Having a stable and secure career is something everyone looks forward to. So if you're in this category, you should check out the fintech industry. But, first, we will focus on why you should consider fintech as your dream career.

Fintech means financial technology, and it is the integration of technology into financial and marketing systems to improve workflow and change people's views about the industry. It is a technology used to automate the delivery and use of financial services.

Fintech companies have become a vital part of Nigeria's financial and business sector. They create new products and services that provide technical solutions to money management issues.

This makes it easy for business owners, account managers, sales managers, account managers, and consumers to keep a tab on their finance.

Using fintech is not only profitable but also time-saving. When a company creates a digital product that saves time, they are not limited but advanced in the fintech industry.

The main goal of fintech is to provide technical support and help companies, business managers, consulting firms, and consumers keep their financial and marketing operations in check by using advanced software, algorithms, and other technology.

Fintech is used in mobile banking and payment to perform quick transactions. It is also used in online trading and sales, cryptocurrency, and blockchains.

In Africa, Nigeria is one of the fast-rising countries in the fintech industry. It was estimated recently that Nigeria has over 200 fintech companies, and new companies continue to arise by the day.

Examples of the prominent fintech providers are; Opay, Paga, Remita, Kuda, PiggyVest, Interswitch, Paystack, Flutterwave, and more!

If you're thinking of going into fintech, there are many reasons to convince you to go into that area, and we'll be talking about them in this article.

Here's all you need to know about fintech in Nigeria!

A man at the ATM
The ATM you use almost every day is a piece of financial technology || Image Source: Pexels
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Job Security

Getting a stable job in Nigeria is something everyone looks forward to. But, if you are worried about having a secured and stable job, you can't go wrong with fintech.

Since the world is digital and fintech is growing bigger, there is a global increase in the need for professionals that can go through fintech daily operations and give technical support and solutions.

As long as you have the technical skills required in the fintech industry, you can apply for any fintech recruitment program in Lagos and other parts of Nigeria.

Unlike the traditional banking system, fintech is not concerned about what you studied in school. Instead, they are interested in your skillset and what you have to offer the industry. So you don't need to worry about your school grades.

Unlike what we had a long time ago, companies now know and understand the importance of digital financial services in their business and marketing system, making them source professionals in that field.

In addition, companies hire professionals within the fintech industry, making it a highly sought-after profession, thus improving your chance of having a secured job.

Working in the fintech industry comes with many new job opportunities and risks. For example, you can work as any of the following:

  • Software developer
  • Financial analyst
  • User experience designer
  • Account officer
  • Artificial intelligence engineer
  • Data scientist
  • Software engineer
  • Machine learning specialist
  • Business development manager
  • Marketing manager
  • Sales officer
  • Director of finance
  • Human resources manager
  • Cyber security specialist
  • Data analyst, and more.

Working in any fintech company in Nigeria allows you to explore and dive into any fintech job opportunities that suit your expertise and point of view.

Read about the development of fintech in Nigeria!

Career Development

Fintech is undoubtedly one of the best things that have happened in the banking and finance sector. However, if you are interested in fintech, you must have at least one of the skills required in the industry.

This will help you when applying for recruitment programs.

If you're looking forward to developing your career, you can venture into fintech. Fintech promotes creativity among newbies in the industry, giving them exposure while building their careers. Taking the risk of going into fintech is a good career development strategy.

The fintech management will give you access to the resources to help you build your career.

If you have one technical skill relating to fintech and want to develop yourself in new fintech skills, you can always take fintech courses online and check learning resources in your free time.

This will help you stay ahead in the industry and build a global fintech career.

Fintech offers workers in the industry the opportunity to work in a highly collaborative and innovative environment.

This will help you work alongside other people and senior colleagues within a financial institution, thus exposing you to different areas that will help you grow your skill sets.

In the fintech industry, you'll learn how to collect clients' data to know about them and maintain a good customer relationship with any client you might come across. This helps you understand how to view customers in line with what you do.

It will also help to create tailored products and solutions for clients.

Working in a fintech industry requires that you are open-minded. This will help you in your career development journey. In addition, fintech is one of the best industries where you can gain experience in the latest skills while working on the job.

You can gain new and useful experience while working in the fintech industry, as you'll also get exposed to the latest tools, software, and programming languages.

A lady using a calculator
The FinTech industry fosters career advancement || Image Source: Pexels

Accessibility

Fintech is a digital industry that uses cyberspace making it open to everyone. Other organizations, companies, and businesses use skills and strategies in fintech to boost their sales and productivity.

They are also used to improve customer service and experience.

Fintech is a global industry that uses technical skills and support for improving daily operations such as marketing, sales, business management, and other areas.

Due to how accessible fintech is, it has now been incorporated into engineering, where engineers now take risks and dive into software engineering. This allows engineers to learn about financial technology and relate it to engineering.

Like engineering, other fields can use fintech skills and apply them to their line of work.

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Numerous Job Opportunities

If you're looking for a global industry that provides many job opportunities for people, you should check out fintech.

There are a variety of jobs and positions that makes up the fintech industry, and there are a lot of fintech companies you can apply to in Lagos and other parts of Nigeria.

All you need to gain access to the industry is your skillset. With that, you won't be limited. Here are a few examples of careers and skills that are in high demand in the fintech industry:

  • Software engineer
  • App and web developer
  • Artificial intelligence developer
  • Machine learning engineer
  • Cloud integration
  • Cyber security specialist
  • Strategy developer
  • Product manager
  • Data analyst

Profitability

No one wants to venture into a career that is not profitable. Everyone wants a successful and profitable job career. Fintech is one industry that brings in large income amounts, making it an essential part of businesses and companies.

In fintech, your skill sets and level of knowledge in the field will determine how well you'll be paid and how limited you could be. But the good thing is, you can always build your career in fintech.

Working in fintech is very lucrative since everyone makes use of fintech products. Paying bills online, money transfer, ATM usage, digital wallets, and more are examples of areas where people use fintech.

Having any of the skills required in the fintech industry will make it easier for you to land a profitable job in fintech due to the solutions it proffers to businesses.

The question to ask is, how profitable is fintech in Nigeria and Africa?

Nigeria is seen as one of the countries making waves in the fintech industry globally compared to other African countries.

It is estimated that Nigeria's fintech revenue will be $543 million by the end of 2022. However, the global fintech industry has achieved a valuation of $91.5 billion in just 2021 alone. This shows how well the industry is growing.

Fintech has been sweeping banks off their feet due to their high profitability rate, becoming a threat to the local banking industry.

A perfect example is the popular mobile-only bank, Kuda. This new digital company has been competing with physical banks in Lagos and other states in Nigeria.

Kuda has surpassed these banks in terms of digital banking operations and profit-making. For an online bank less than four years old, Kuda has achieved a valuation of $500 million, which is enough to show you how profitable the fintech industry is.

A man working from home
The ability to work remotely is one of the interesting perks of the FinTech industry || Image Source: Pexels

You Get to Work Remotely

If you don't like the office environment or don't want to get involved with the risk of traffic in your city, you can always opt for fintech, where everything happens online. But, don't get this wrong; there are also fintech jobs that require you to be physically present.

You can always apply for any remote jobs in fintech, as long as your product and services are excellent. You should also be good with customer management to give the client a good customer experience.

Fintech gives room for working remotely, depending on the area of interest. However, you might have to work at odd hours, days, and not the regular 8-5. However, the time doesn't matter since you're working within your comfort zone, right?

Different companies in Nigeria are willing to hire remote workers as long as they have the skills they need to bring in sales, meet the expectation of each client and offer good customer support and services.

Final thoughts

If you desire creativity, innovation, collaboration, exposure, strategy making and career development, you shouldn't miss out on the opportunity the global fintech industry has to offer.

The fintech industry has a lot of things to offer you. A high-paying job, career development, accessibility, collaborations, job security, job opportunities, and more are benefits of working in the fintech industry.

Fintech offers you different working possibilities while you improve your skill personally, within the company, and the industry at large.

You also get to meet new people and senior colleagues in the industry, both physically and online, who will help you during your career development.

There are more than enough fintech jobs to go around these days. All you need is your skill sets, experience, and open-mindedness. With that, you'll be able to thrive in the fintech industry.

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Emmanuel

Emmanuel Oyibo is a Content Writer and budding Python Developer. He's adept at many niches, but his expertise shines more in the medical sciences, tech, and blockchain niches. Emmanuel has a Bachelor's degree in Biochemistry, and he's currently a full-time freelance content writer. When he's not working, he's probably absorbed in some television adventure series or a good book.