The Indian FinTech industry holds the potential to add $700 billion[1] to India’s GDP by 2025. FinTech in India recorded an explosive growth in the last three years and has placed itself second, right behind the US FinTech landscape by the number of new startups that emerged in 2015–2018. It attracted over $1.8 billion[2] in funding in 2018 alone and is poised to scale up in the near future. However, the industry is facing an acute talent shortage as proactive measures to create and attract skilled talent pool have not been taken.
Skilled talent is one of the key elements for any region to establish itself as a prominent FinTech hub; with access to capital, progressive regulatory environment & strong government support, and B2C/B2B demand for solutions forming other key aspects. Among these, creating a talent pool requires a relatively long-term action plan. FinTech hubs across the globe are working on strategies to develop and retain talent in technology, finance, and entrepreneurship. Some of the global initiatives include:
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Hong Kong’s FinTech career accelerator scheme co-organized by the Hong Kong Monetary Authority and the Hong Kong Applied Science & Technology Research Institute.
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The UK’s Tech Nation Visa, which aims to attract tech talent from across the world to work in the UK’s digital technology sector.
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Singapore’s MAS established R&D collaboration with the Massachusetts Institute of Technology Media Lab to facilitate BFSI and FinTech players to collaborate in a wide range of pilots and experiments.
Unlike some of the established FinTech hubs, such as the UK, that
