Top 3 Fintech career opportunities in Hong Kong and What is Finance training

The development of financial technology is becoming increasingly important and will influence the future of the financial industry. According to the latest policy address, the Hong Kong Government has provided substantial funding to support innovation and technology development with the aim of transforming Hong Kong into a smart city. The demand for Fintech professionals is expected to grow, and many educational institutions have started to offer courses on Fintech, big data and artificial intelligence to meet the market demand.

What is Fintech?

FinTech, known as 'Finance Technology', refers to new technologies that are improving and automating the delivery and use of financial services. At the heart of FinTech is the use of dedicated software and algorithms used on computers and, increasingly, smartphones to help companies, business owners and consumers better manage their financial operations, processes and lives.

Content of the finance training – What will be covered in the course?

Fintech programmes can be described as an amalgamation of two courses, 'Finance' and 'Technology', which focuses on financial literacy, while the technology aspect focuses on related software technologies, including exposure to a wide range of computer programming, which can be used to develop various fintech software or systems upon completion of the course.

In terms of financial knowledge, a lot of financial analysis and computation will be involved, so the programme will cover related areas such as mathematics, statistics and economics, and may also include some financial law courses. As financial analysis requires strong numerical skills, the course will cover a lot of mathematical theories and calculations. As it is a computer-related subject, it will be easier for students with a programming background to grasp.

Why should I enrol in finance training?

This is a common question asked by many economics graduates, who believe that they already have sufficient knowledge and do not need to take additional courses. However, FinTech is about both 'technology' and 'knowledge'. There is a lot of talent in Hong Kong, but unfortunately most of them are only proficient in programming or only have strong financial knowledge, whereas FinTech requires a combination of both.

What kind of jobs can I get by taking these Fintech programmes?

While fintech services are focused on finance, the talent needed for fintech jobs is not only limited to the financial sector, but you will need to have both financial and technological knowledge if you want to be successful in Fintech industry. Below are the top three positions that offer the most competitive salaries and job opportunities in Hong Kong.

1. Data analyst

Big data is one of the core technologies of FinTech. Regardless of the FinTech application scenario, data analytics is an integral part of the business. Financially knowledgeable or trained data analysts won't have to worry about finding a good job in the fintech industry. In 2022, the average monthly salary for data analysts in Hong Kong is above HK$20,000, but some data analysts working in large banks or fintech firms can reach a higher level of salary.

 2. Security specialist

Most fintech applications will need to handle a lot of personal information from clients, so cyber-security becomes very important. With the prevalence of ransomware, most of the well-known companies like Amazon, Microsoft, and other big tech companies had also been attacked. The importance of cybersecurity professionals in the tech industry is increasing, as well as Fintech. In Hong Kong, the monthly salary of a cybersecurity professional can be up to HK$45,000, which is a relatively high salary for a professional in an IT position.

3. Compliance analyst

Compliance has always been one of the core activities of the financial industry. The contribution of compliance analysts is important as FinTech-related regulations change from year to year and regulatory standards vary from country to country. In Hong Kong, a senior financial compliance manager can earn up to HK$60,000 per month.

The potential for FinTech in Hong Kong is indeed very strong, and the salary package for these Fintech professionals is also very attractive. If you are interested in pursuing a career in FinTech, you may want to pick a right-fit Fintech programme to enrich your knowledge and use it as a career-changing opportunity.