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'Fierce' competition for talent among Fintechs

7 March 2022
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Talent recruitment is fast emerging as a huge issue for the Fintech industry, according to a new Barclays Bank report.

While growth and expansion remains the number one priority for Fintechs, their ability to acquire suitable talent has been identified as a key priority. The report finds that the competition for skilled employees is so "fierce" it describes it as: "a war for talent."

Barclays quizzed 1000 financial services leaders from across EMEA, the Americas and Asia-Pacific in 2021.

The 'Strength in Numbers' report found that talent acquisition is a growing priority for respondents and is now cited as the second-most pressing concern.

Securing the talent that they need to succeed and grow their businesses is the top priority of more than one in ten (11%) FinTechs .

Jenni Himberg-Wild, Head of FinTech and Non-Bank PSPs, UK, at Barclays Corporate Banking, said: “It’s essential to understand that the battle is no longer just for coders and technical payments people. As the market continues to mature, there is increasing demand for people with a real breadth of experience.

"We are seeing firms looking at IPOs, for example, and they are looking to add people with broad business experience, bolstering their boards and adding credibility.

“The competition is now fierce. As these businesses mature and evolve, it is not enough to just bring in new tech. Talent is essential to the continued growth of these businesses.”


Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.

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