Updated: Feb 7
A little while back, I was invited on the 100WomeninFinance panel to talk about my personal transition between the industries. I was obliviously unaware that majority of women in traditional finance careers are daunted by the idea of re-etablishing themselves in the world of Fintech after having fought relentlessly in an environment that regularly dismisses their voices. To that, I gave a hopeful speech and taken on more mentees since all at the same time crafted 3 simple "mental" rules to help you get through your doubtful fear.
I know, we know that making a career transition is a lot of things but easy. Most of the time, it’s the only way forward, and you are left with no choice but to accept the change. It’s a typical case of“Shape in or be Shipped out”.
In the financial sector, things have evolved drastically. The advent of technology introduced newer and seamless ways of managing money.
This financial revolution brought about by technology in the 21st century, tagged along with fresh job opportunities amongst other tangible benefits. With these imposing benefits in the picture, the sheer relevance of traditional financing is being threatened as everyone is embracing its technological variant.
If you’ve decided to hop into the bandwagon, but lack the courage and absolute resolve to push things through, these ideas below might be of tremendous help to your cause.
Fin to Fintech; How to Make the Switch
1. Understand that Change is Inevitable
Once you’ve accepted the undeniable fact that change is constant, it can help you muster up the courage to make the transition. For one, we are all beneficiaries of most of the offerings that technology brought. You’ve seen how life can be made simpler with technology, and that tells you that the good times just began.
In every sector under the sun, things will continue to evolve so long as tech is in the picture. You won’t have to shy away from accepting the changes for long. It’s inevitable.
Reflecting on my experience, if I had enough courage earlier I would have enjoyed my career in Fintech alot longer but every little step brings you closer to your dream job. Be brave, and trust yourself.
2. Find Suitable Positions for a Seamless Transition
Having an idea of what it’s like behind those Fintech doors and how you can fit in can spur you to make that bold transition step without dragging your feet. It’s a diverse world in there and there are a dozen opportunities for people who are in the finance industry already. From insurance to banking, and from investment management to accounting, there are befitting roles everywhere.
You just need to find out which roles are in line with yours, and the ones that won’t be tasking to incorporate the tech advantage. From Fintech startups to existing financial companies moving over to Fintech, you’ll certainly find a place for yourself.
I first learnt my value add as a HR professional in startups that had never established any HR practices before. I knew this was going to be my niche.
3. Hone Your Transitional Skills
Most times people are scared of certain prospects in their career because they aren’t fully prepared. This is common as you move from one industry to another. There are certain skills needed to thrive in the corporate world where Fin and Fintech are members.
Skills like adaptability, ability to work with a team, creativity, communication, multitasking, and problem-solving skills are needed in the Fintech sector. Thankfully, you've got almost all these skills because they are prerequisites in the traditional finance sector already.
All you need to do now is sharpen these skills and make the best out of them. If you used them in the conventional finance industry, they will be needed even more in the finance sector largely based on technology.
Technology is ever-changing our lives forever. In finance, it's the future and a major determinant of the industry’s next direction. Moving from Fin to Fintech is only a right step in the direction that will position you for relevance in the world of finance.