Fintech Developers Hiring Guide

Finance + Tech: Better Banking, Better Services

Fintech is booming. The industry, which refers to the use of a range of technologies in the financial sector, has grown enormously in the past several years. From mobile banking apps to payment gateways, there is a vast array of opportunities.

There’s also a lot of competition. According to Statista, there were 10,605 fintech startups in the Americas in February 2021. Given how few startups ultimately succeed, it’s critical to hire top staff to make sure your fintech business grows and thrives. That starts with a talented fintech developer.

Hiring Guide
Interview Questions
Job Description

All About Fintech

Fintech describes the application of technology in finance. It encompasses a huge number of services, products, and tools, including cryptocurrency, crowdfunding, insurance, lending, mobile banking, payment gateways, and much more. As the sector grows, it gives rise to more innovations.

Examples of fintech companies and products are:

Avant
Braintree
Bitcoin
Credit Karma
Digit
Paypal
Personal Capital
Pitchbook
Robinhood
Spring Labs
Square
Venmo

What Do Fintech Developers Do?

Fintech developers are software developers who specialize in building financial products. These in-demand professionals create the platforms businesses use to conduct their activities and provide their services.

Types of Companies and Businesses

Fintech isn’t limited to banking and other financial institutions. There are many types of businesses and organizations that benefit from these innovations. While financial institutions, such as banks and investment firms, are the most obvious types of companies that leverage fintech solutions, others include:

Government agencies
Retail stores and businesses
Tech companies of all sizes

Trends in Fintech

There are some new trends in fintech, as well as new applications for established technologies. For example, there has recently been an emphasis on accessibility, reaching underserved populations, and financial literacy. Robo-advisors are one example of a fintech solution that helps people who may not be able to have access to a financial advisor manage their finances and investments.

Meanwhile, autonomous finance uses AI and other tools to personalize and automate the banking experience. Other current trends include:

Contactless payment
Digital-only banking
More applications of blockchain
Open banking
P2P lending
Regtech

Explain fintech in a nutshell.

Fintech is the intersection between finance and technology. It often applies to software that is used to facilitate more efficient, convenient, and all-around superior transactions and other actions in the finance sector, from personal banking to lending to investment advising.

But fintech isn’t limited to software. It describes a range of innovative technologies used in finance, apart from more traditional banking methods. These technologies often automate processes that previously had to be conducted manually, sometimes in person, while making them quicker and more streamlined.

What is autonomous finance and why is it important?

Autonomous finance leverages artificial intelligence and machine learning to provide more efficient, less complex means of helping people manage their money. The process is automated, and the tools used to facilitate autonomous finance make the experience more personalized by pinpointing consumer behaviors, actions, and preferences. Ultimately, it helps these consumers manage their money in easier, more accessible ways.

How does blockchain fit into fintech?

Blockchain is an important tool in fintech. The digital ledger technology is best known as being the power behind cryptocurrency, but its applications extend far beyond Bitcoin and other cryptocurrencies. For example, it’s used in payment processing and smart contracts.

Because the ledger is immutable and decentralized, it’s both more efficient and more secure for users and businesses alike. It also makes for more transparent transactions, critical for transferring money and information in a number of cases, such as government records.

List different categories of fintech services.

Fintech encompasses a number of different services and innovations. Some broad, major categories include:

B2B banking
B2C banking
Cryptocurrency
Digital lending
Insurance solutions
Mobile banking and personal finance
Robo-advising
Smart contracts
Trading

Describe some major fintech technologies.

Fintech leverages a number of widely-used technologies. Some examples are AI, big data, and blockchain. It also utilizes regulatory technology, or regtech, which automates and manages compliance and regulation within the financial sector by using technology. Biometrics, which uses physical traits to verify identity, has also gained traction in fintech.

We are a growing fintech business looking for a full-stack developer to design and build financial technology solutions. You will be tasked with overseeing, creating, and testing robust, high-quality products, including systems and applications.

You should have experience working in the fintech sector, as well as a background in creating secure products in several niches, such as cloud-based technologies

Responsibilities

Research and conceptualize new product ideas in the finance sector
Leverage cybersecurity principles to ensure technologies are safe and secure
Collaborate with team members to deliver functional, secure, quality products
Collaborate with clients to understand and successfully apply requirements
Work in a DevOps environment
Unit test all software
Document requirements and efforts
Build a wide range of products, including eCommerce platforms, IoT solutions, banking applications, and more

Skills And Qualifications

At least 3 years experience working in fintech
At least 6 years experience in software development
Experience with Java, C++, C#, Swift, JavaScript, HTML, CSS, PHP, R, and ETL
Knowledge of cybersecurity
Analytical, problem-solving, critical thinking, interpersonal, and verbal and written communication skills
Strong attention to detail
Experience with full-stack development, including both front- and back-end architecture
Ability to test code
Cross-platform development skills
Experience with database technologies
Ability to collaborate with UX/UI designers to build interfaces
Bachelor’s degree in computer science or a related field