12 Apr 2019
Report: attracting the tech talent to fuel UK’s financial services
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How will a fast-growing, tech-powered financial sector find the skilled talent it needs? A new report recommends a way forward for the UK.
As disruptive technology opens up innovation, the financial services sector is growing strongly on the back of developments in Fintech. But a limited pool of tech talent, coupled with a reduction in the flow of EU tech graduates into the UK, is putting the brake on that growth.
What should the industry, education and government do about it?
To understand the current situation and find solutions for the future, an in-depth report was produced jointly by CityUK, Odgers Berndtson and Santander UK. Now available for download, the report is called ‘Fuelling Fintech: attracting the UK’s future tech talent into financial services’.
Face-to-face interviews with over 50 leading professionals across banking, insurance, market infrastructure, asset management, consulting, law, regulation and Fintech provided one half of the picture. The picture was completed by discussions with representatives of the Russell Group of universities and the Institute of Apprenticeships.
The report asks a number of important questions:
- What exactly are the skills missing at the moment?
- Is there a new blend of skills required, and what are they?
- How can the UK create an effective pipeline of graduate talent?
- How do we reskill the current workforce?
- What can we learn from other industries?
- Is diversity being neglected?
- What is the Brexit effect?
Read the recommendations
The report makes clear that to ensure Fintech continues growing from strength to strength in the UK, a number of issues will need to be addressed. That’s particularly true about the way the financial services sector interacts with government skills policy and academia.
Other recommendations cover how to get more accurate skills to demand data, the importance of boards, engaging with public sector initiatives, promoting the image of the industry, upping the tech content of non-tech education course, promoting diversity and attracting tech talent from other sectors and industries.
To get the full report, download it below:
‘Fuelling Fintech: attracting the UK’s future tech talent into financial services’ was produced jointly by CityUK, Odgers Berndtson and Santander UK.