The fintech industry is rapidly evolving, and so too are the skills required to succeed in it.
As the largest provider of apprenticeships and skills training in Wales, the Cardiff and Vale College Group (CAVC) is at the forefront of discussions around the changing demands for talent within this dynamic sector. Indeed, I am also a member of FinTech Wales' Skills Board so have first-hand experience of how education and business can work together to grow a highly skilled, employable and motivated workforce.
Covid-19 has certainly accelerated the transformation, revealing gaps in the talent pipeline, the need for upskilling the existing workforce, and the importance of preparing young people for future roles in fintech.
One of the major shifts that we have seen is the increased demand for tech-savvy professionals. As the fintech industry grows, there’s a significant need for a diverse range of skills, from coding and data analysis to cybersecurity and financial regulation expertise.
At Cardiff and Vale College, we work closely with FinTech Wales to make sure we’re preparing students for the jobs that exist today and anticipating what skills will be needed in the future. Changing lives and inspiring success with high-quality learning and skills development solutions is part of our DNA.
Engaging with industry is a cornerstone of the work we do. Employers, whether large financial institutions or agile start-ups, help us stay in tune with the immediate and long-term skills needs of the sector. Right now, coding academies and tech boot camps have become critical. For example, we’ve partnered with FinTech Wales to develop programmes that equip adults who might not currently be in the fintech industry with the skills they need to pivot into this field. These short, sharp interventions help address existing vacancies, offering immediate solutions to the talent shortage.
However, it’s not just about the here and now. We are also focused on shaping the future workforce through tailored apprenticeships and qualifications. By working hand-in-hand with employers, we ensure that the skills we teach are relevant and that the learners we develop are highly employable.
The challenge is remaining flexible and agile while navigating the complexities of an industry that changes quickly. While qualifications and apprenticeships don’t transform overnight, we continuously work to enhance our curriculum to reflect industry needs. We bolt on additional modules and refine delivery to make our programmes as fit for purpose as possible so that we can support recruitment, boost workforce skills, enhance productivity and drive long-term business success.
Another key part of our strategy is raising awareness. Many young people – and their guardians and career advisors – aren’t fully aware of the opportunities that fintech offers. It’s crucial for us to not only deliver the skills training but also make sure that people understand the exciting pathways available to them right here in South Wales. Fintech is an industry brimming with possibilities, whether it’s starting out in an entry-level role, developing a high-level tech career, or eventually launching your own business. We help to identify and create that pathway.
Successful fintech companies can serve as breeding grounds for talent. Many individuals who gain experience in these companies go on to establish their own ventures or move between firms, taking their expertise with them. This creates a positive cycle that attracts more businesses to the area, knowing they’ll find skilled professionals ready to contribute.
As we look to the future, predicting the exact skills that will be in demand is a challenge. However, by maintaining close engagement with employers and continuously adapting our approach, we ensure that the CAVC Group remains at the forefront of the fintech sector. By staying agile, we’re able to create learning pathways that meet both the current and future needs of the sector while delivering economic and social value for the Cardiff Capital Region, Wales and beyond.
Leanne Waring is Business Development Manager for Cardiff and Vale College. The College is part of the award-winning CAVC group, the largest college group in Wales and the third largest in the UK. With a combined turnover in excess of £130 million, it includes ACT Training and ALS Training.
The CAVC Group supports more than 2,000 large employers, SMEs and micro businesses in the private, public and third sector each year to up skill, reskill and diversify their workforce.
