Top 6 Principal Skills FinTech Engineers Should Possess

Learn About the Top 6 Trait Skills required for Fintech Engineers

FinTech is a hypernym term, involving a group of companies that use software and technology in order to provide financial services. The FinTech industry emphasizes disruptive innovations such as robotic advisory, asset management firms, online banking, mobile payments, online remittance, etc. all these are redefining landscapes, restructuring financial services, and pushing back the traditional models towards an end. FinTech engineers and professionals make finance easily accessible for both commercial and personal use.

The fintech engineers in today's complex world, need to have the skills to identify and solve the problems that their forerunner never had to deal with. This problem involves full cloud integration, remote workforces, rapidly changing technologies, the evolvement of new technologies and so more.

Top 6 Skills that a Fintech Engineer Must Have-

Cybersecurity Expertise-

The omnipresence of the internet in the financial service industry has resulted in the rise of cybercriminals. Especially the Fintech start-up companies are prone to malevolent threats to their security. This can result in loss of important information, strain business relations, and can also lead to reputation damage, and have several legal ramifications as a result of which employee morale can be affected to a large extent increasing the rates of employee erosion.

There is a high requirement for the Fintech engineers to possess high-security skills, as the present world is running at a high speed where there is no explanation or tolerance for the applications and systems with any failure or interruption. In a fintech industry billions of dollars are being processed, in such a case, if a network goes down then it gets overwhelming for the business and the customers. If you want to be known for trusted and failure-proof technology it is needed that all your system must have100 percent operational maintenance. This means a fintech engineer must have the knowledge of building and work with high availability systems.

Computing Infrastructure– 

Computing Infrastructure gives support and management for servers, storage systems, end-user computers, operating systems, middleware, databases, and ERP systems. Three groups that make up the computer infrastructure team are

• End-User Computing
• Database and ERP Administration
• Server & Storage Services

Fintech engineers, not only work with data that are stored in one location therefore the Fintech engineers need to know about working with data spread across different remote networks. There is a possibility that some clients might prefer internal or in-house applications in that case it is required to have the skills based on computing infrastructure.

Open-Source Technology–

Open-Source Technology, is one of the evolving trends in GIS. It is software in which the source code which is used to create a program is easily accessible for the public to view, edit, and reallocate. The term itself refers to something that is easily available and can be modified and shared by people easily because its design is publicly accessible. Therefore, it is crucial for fintech engineers to be comfortable with the most common open-source technologies such as Android, WordPress, Linux, etc, and also to know how to adjust the code on the basis of their client's needs.

Continuous Integration and Continuous Delivery–

CICD symbolizes a culture, a group of practices, a set of operating principles that allows application development teams to deliver code more regularly and responsibly. CICD is one of the best practices for the application development team to implement the CICD pipeline. It is also considered as a nimble methodology as it allows the software development team to put emphasis on reaching the business requirements, security, and code quality in an automated deployment step.

It is important for fintech engineers to possess the knowledge of writing code that can get to the users rapidly and never drop functionality when changes are made.

Microservices– 

It is being considered as the top next disruptive technology evolution. It serves organizations with innovative ways to build applications in a much improved and faster way for software development. The objective of microservices is to deliver a quality product in the shortest period of time. This is the reason why more and more organizations are implementing microservices. This leads to demand for microservices skills in the fintech industry jobs. Therefore, to become successful a fintech engineer must be comfortable with a multi-dimensional approach. In the beginning, it is required for the fintech engineers to get acquainted with Spring Boot, Jersey, Swagger, and Drop wizard.

Soft Skills– 

To get successful a fintech engineer cannot keep focus only on technical or financial skills, rather it is also needed for fintech engineers to possess soft skills in order to achieve long-term success in the fintech industry.

Following are the types of soft skills that a fintech engineer must possess-

• People skills- This includes emotional intelligence, communication, and empathy
• Creativity and problem-solving skills- This includes analytical and critical thinking skills that can help in finding creative solutions to unidentified problems.
• Adaptability & Flexibility- Fintech engineers need to be nimble and flexible to successfully deal with the hasty changes occurring in the fintech industry.