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5 Essential Skills in Big Data for a Career in Fintech

5 months ago by Luigi Muscat Filletti
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Sectors in finance continue to integrate the latest technologies of the digital age to enhance their competitive edge in the market to offer the best financial solutions to their customers. Digitisation objectives are rapidly developing, with banks and financial institutions continuously looking to attract top talent in tech to strengthen their tech operations. 

Career opportunities in Fintech in Malta are progressing steadily for both finance and tech professionals. This growing segment, also branching into further areas of Regtech and Insurtech, is promising a great influx of quality software development job opportunities for professionals with expertise in select fields of technology - skills in AI and Big Data in particular continue to grow in demand as employers gain more awareness about the influence of evolving technologies internally and externally.

Professionals in technology seeking a career in Fintech are encouraged to develop their skillsets to meet the requirements of the job market - below, we discuss five vital Big Data skills for tech professionals to stand out further and attract the eye of the employer.

 

Machine Learning, AI & Automation

Artificial Intelligence has made great waves across practically all industries worldwide, with careers in financial sectors for tech professionals growing in multitude over the years through the investments in advanced technologies of machine learning and automation. Such technologies have been shaping the way companies operate - from predicting financial results, market trends and behaviour, to strengthening cybersecurity efforts and improving customer relationship management. Concerns regarding fraud detection, risk management and compliance are also made more efficient for company and customer alike, and so great attention is being given to develop these areas of tech within an organisation. Skills in Natural Language Processing and deep-learning grow in demand, as well as social media (SoMe) data collection which is gaining in popularity. 

 

Programming

Software development jobs in Malta are seeing great opportunities on the horizon through the evolving sectors of gaming and finance, with a diverse range of skills in programming becoming exceedingly more essential for companies working to reach their digital goals. The fundamental skills for software developers - HTML, Javascript and CSS - are top priorities, with skills in Python, Java, C, C++ and C# gaining steady ground and helping candidates make more attractive impressions to employers. Moreover, working with Big Data technology requires working knowledge in tools such as Hadoop and MapReduce which are becoming more relevant in this sector. 

 

Data Mining

Related to the process of analysing large pre-existing databases to create new valuable information, data mining is a growing area of technology expertise. Candidates with experience in statistics and algorithms as well as unstructured data is of great importance, and once more, Python and knowledge in R programming languages is essential. This area of expertise allows professionals to develop various types of statistical data to assist companies in generating insightful data for their tech-based operations. 

 

Database Administration

The Fintech industry processes insurmountable amounts of sensitive and confidential data each day, meaning that legal practices and cybersecurity frameworks regulating the collection, storage and use of such data must be consistently monitored, maintained and updated in accordance to new regulations or threats. Technologies of MySQL, Kafka and Cassandra are a few skills required by the Fintech industry in 2019 which continue to prove greatly beneficial to candidates wishing to differentiate themselves in the job market for careers in tech.

 

 

Predictive Analytics

This stream of tech contributes towards more efficient and productive methods of data usage. As companies collect large data sets in real time, predictive analytics enables organisations to merge historical data with customer insight to predict future trends. Professionals with experience in statistical modelling and heavy machine-learning will be valued, and hands-on experience in SQL and Data Warehousing are additional valuable skills for the desired professional seeking a career in tech within the sector of Fintech. 

 

All in all

The future of Fintech remains exciting as further investments are being made in this sphere, especially as Blockchain regulations in Malta progress further, a focus on AI and Big Data remains a great priority as companies aspire to achieve their digital goals for business growth, relevance and dominance.