Student scholarship up for grabs

Students are being encouraged to explore the vast career opportunities in the innovative and lucrative world of fintech, after the UK government identified the sector as a key area for future economic growth.

The UK is at the forefront of the global fintech industry and is the top-ranking fintech investment destination in Europe – home to an estimated 2500 firms and employing 76,500 people – with this set to grow to 105,500 by 2030.*

Despite a global decline in fintech investment in 2024, the UK attracted upwards of £3 billion of investment last year – affirming the sector’s resilience in the face of economic uncertainty.**

UK Chancellor of the Exchequer, Rachel Reeves has recognised the importance of fintech as a key growth opportunity and has named it as one of the sectors that will play a vital role in her plan to bolster the economy.***

With all that in mind, there has never been a better time for graduates to kick-start a career in this thriving industry, which has a reputation for highly competitive salaries and a wealth of benefits and development opportunities.

However, fintech is facing a dilemma that threatens to hinder its rapid growth – a major skills shortage. In order to maintain the UK’s position as one of the leading hubs for innovation and growth in fintech, it is imperative that the sector is able to plug this talent gap by attracting the next generation of fintech professionals.  

Alarmingly, a survey by leading fintech business Quotezone.co.uk found that 76% of students haven’t even considered a career in fintech.

The poll of UK students found the biggest factor (36%) stopping graduates from pursuing a career in fintech was a lack of knowledge about the sector itself. Other factors holding students back from considering a career in fintech are pressure to pursue a more traditional career path (26%) and a lack of available experience (9%).

In an effort to change perceptions and shine a light on the many benefits of a career in fintech, Quotezone.co.uk has launched its fifth annual Fintech Scholarship. The initiative aims to encourage students that may never have considered a career in financial technology to research this flourishing sector and get excited about everything it has to offer.

Greg Wilson Founder and CEO at insurance comparison site Quotezone.co.uk said: “The fintech industry is expanding at a rapid pace and the UK government has acknowledged the importance of this sector in developing its strategy for growing the economy.

“As the industry continues to wrestle with a significant skills shortage, it is vital that fintech companies work together with educational institutions to nurture and develop homegrown talent, ensuring a sustainable pool of skilled fintech workers.

“That is why we have developed our Fintech Scholarship, to use as a platform to highlight the opportunities available for students in this burgeoning field.”

The application process for the Quotezone Fintech Scholarship is simple – and consists of a short online form, asking students for their thoughts on how the sector could improve recruitment and the issues they currently face.  The winner will receive a £1000 bursary and will also have the opportunity to take part in industry related work experience at Quotezone.co.uk – gaining vital sector experience to help support their recruitment efforts. 

References:

*https://www.great.gov.uk/international/investment/sectors/fintech/
**https://www.innovatefinance.com/announcements/uk-fintech-retains-second-spot-in-global-investment-rankings-amidst-tough-market-conditions/
***https://www.gov.uk/government/news/chancellor-ramps-up-engagement-with-financial-services-leaders-to-bolster-plans-to-grow-the-economy