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Singaporean Fintechs to Ramp up Hiring Amid Slowing Economy
FinTech, Financial Services
Here’s some good news for those looking to break into fintech; the Nikkei Asian Review reports that despite a cooling economy, Singaporean fintech firms are planning to rev up hiring:
A report by the Singapore FinTech Association and consultancy PwC earlier this week showed 94% of fintech companies are planning to expand their workforce over the next 12 months, with 28% expecting to double headcount in three years.
“Survey respondents were very optimistic about the outlook for the fintech industry in Singapore, with over 75% stating they believed industry growth would accelerate with more opportunities available,” SFA and PwC said in a report based on inputs from 93 executives and professionals working in the industry.
The optimism stands in stark contrast to the gloom in Singapore’s financial industry. With investment banking activities shrinking, banking hires have remained “conservative” and generally “for replacement roles,” Randstad Singapore’s Lim Chai Leng told the Nikkei.
Demand for wealth management personnel remains high, however, and people with digital technology experience seems to have a good shot:
Banks and insurance companies are also aggressively hiring people with experience in digital technologies and creating whole new departments that did not exist a few years ago.