Are you tech savvy with a head for numbers? New fields of digital banking have opened up for anyone looking to combine financial services and tech.
Article by Amanda Wilks
Technology has gradually integrated itself into modern consumers’ lives, and the financial sector is looking to cash in on the transition. New opportunities are popping up for bank cashiers, software developers, and financial analysts to step into more technological positions. Keep reading to explore this new field and three exciting digital bank jobs.
Digital Banking: A Booming Field
According to the Ofcom two-thirds of adults in the UK own a mobile phone, and about half of mobile phone users with a bank account use mobile banking. This industry is booming and the jobs are growing right along with it.
Along with technical and analytical services, one of the most important aspects of any bank is its customer interaction. According to mobile bank executive Emma Northcott, customer feedback is paramount to operations. She praised the bank she works at, saying, “I’ve never worked in a company where these [customer] opinions are so highly valued by the larger team, and where they can so strongly influence the development of the technology.” In an ironic twist, the decrease of face to face interaction that comes with technology has improved the way banks listen to their clientele.
Modernizing the Bank Cashier
With such an emphasis on banking customers, it is no wonder that technology is affecting the job of bank cashier. In 2015 British bank Barclays introduced a video chat service. Customers can use video calls for account and mortgage services or to make appointments. While Barclays’ service is available via app, other banks might try desktop versions or even offer video chat at ATMs. Although method may vary, it seems this is the way of the future as 80% of banks plan to offer video banking services. You could be involved by becoming the new brand of cashier by working remotely or even during nontraditional hours.
The only question now: how much does a bank cashier make? Official statistics report a median wage of £20,786 per year.
The minimum education requirement is a high school diploma, and some bank cashiers work part time, making this an ideal job for students looking to gain experience in the financial sector. A job as a remote bank cashier could be your introduction to technology in the financial world.
Software Development: Not Just for Silicon Valley Anymore
New innovations in banking such as the video chat are thrilling, but all hinge upon the software. If any digital service wants to thrive and be competitive, quality software is a must. Software engineers and developers are finding exciting opportunities in the financial world. Many banks have developed mobile apps and are constantly looking for ways to update and improve those apps. Beyond that, you may find positions involving websites or internal software.One area you might be working to improve is security.
Concern about security is one of the top reasons consumers opt out of mobile banking services. 73% of eligible consumers citing security concerns as the reason they don’t use mobile banking. Potential new security measures include voice recognition and strengthening app design. You will be compensated generously for your services, whether they be in development, security, or another area. Software developers in the finance and insurance sector earn a median wage of £52,503 per year.
Financial Analysts: Applying Numbers to the Future
If you’re looking for a job on the numbers side of the finance world, consider challenging yourself by pursuing a career as a financial analysts. These professionals are a core part of any financial center. They analyze current and historic data for trends to determine the best financial path. Their decisions are then presented in a report or used to develop models. Financial analysts are meticulous, decisive, and excellent problem solvers.
This is an exciting, fast paced job made more thrilling by the modernization of banking. Financial modeling is in particular high demand. Much of the technology being proposed is unchartered territory, and the creativity to think through all situations will be vital. A position as a financial analyst is quite attractive in this technological boom. Not only is the job growing faster than average, it pays a median wage of £41,875 per year.
Your Next Steps
As the world continues to modernize and technology continues to improve, the banking sector has moved right along with it. Innovations like mobile deposits and video chatting are exciting customers and spurring job growth. By becoming educated in tech and finance, your world becomes wider. Take your job search into the 21st century and find a position as a digital bank cashier, software developer, or financial analyst. These digital bank jobs will prove exciting, beneficial, and thoroughly modern. Right now, you can be a part of the future.
Amanda Wilks is an ex-Boston University valedictorian and a digital magazine editor. She has traveled abroad numerous times and believes higher education as well as self-education, make a tremendous difference in someone’s future career path. Visit Amanda’s Twitter for more details.