The 4 biggest challenges in Fintech 2023, and how recruitment agencies are mitigating these.
1. Competing with huge brands.
B2B startups must solve a significant issue to be noticed, from huge expenses to regulatory fines, or even ease of use.
2. Data security.
Data breaches are at an all-time high, risking companies their reputation and money.
Performing penetration tests annually and after each new update is key.
3. Regulatory and compliance laws.
Fintech is overwhelmed by government regulations and standards like GDPR, GLBA, the Wiretap Act, the Money Laundering Control Act, and many others. The maximum penalty for a GDPR breach is in the millions.
4. Lack of mobile and tech expertise.
Many banks and financial companies use outdated software, which isn’t user-friendly or intuitive.
How are recruitment agencies solving these problems?
Recruitment agencies have a catalog of candidates perfect for solving these solutions, including but not limited to, data experts, cyber security specialists, legal consultants, UX designers, and programmers.
Recruitment agencies are financially incentivised to place the best candidates, so they are a no-brainer partner for fintech companies to help solve the biggest challenges of 2023.