Fintech explosion triggers boom time for contractors

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The UK’s financial technology (Fintech) sector has continued its impressive rise in prevalence, potentially creating a raft of opportunities for contractors.

Research from recruiter Morgan McKinley reveals that banks and financial services companies are increasingly looking overseas to fill vacancies, due to a lack of homegrown permanent talent. This presents an ideal opportunity for contractors to step in and offer their skills.

The study also found that an increase in regulatory scrutiny has led to a wealth of opportunities for compliance professionals, especially those with experience in change management and corporate governance. It claimed that the situation has enabled individuals with the relevant skills and qualifications to demand premium salaries.

On a wider scale, the research revealed that the availability of financial services jobs has increased by 19% month-on-month – a trend that is likely to continue into April and May. Hakan Enver, operations director of Morgan McKinley Financial Services, suggested that a predicted slowdown in hiring intentions in the run up to the election looks unlikely to materialise.

He said: “Despite the contrary belief that the market is slowing down pre elections, general job availability is actually very good and people are much more confident in searching for new employment prospects.”

Meanwhile, a separate study by the Confederation of British Industry (CBI) and KPMG revealed that optimism levels have soared within the financial services sector. Some 59% of firms said they are more positive now than they were three months ago, perhaps due to reported increase in profits.

Have your say

Are you a contractor with experience in the above sectors? Have you witnessed an increase in demand for your services? Do you think election uncertainty will harm your prospects of securing new assignments? Join in the discussion on Twitter, or leave a comment below.