Along with its manifold growth banking, Financial Services & Insurance (BFSI) sector is undergoing a major transition. Today, technology has changed the very concept of banking and is offering ample opportunities for technology professionals.
When was the last time you visited a bank for a transaction? Not in the recent past right? Today your bank is at your finger tips and a transaction just few clicks away. Technology is making this happen. Internet banking, mobile banking, ATM machines etc is making banking hassle free. Technology has brought in several changes in the BFSI sector.
The biggest change that technology has brought to this sector is that it has given us the ability to offer our customers services anytime, every time. It has enabled interactions amongst people in real time and is much effective a great way to connect and engage. Technology is extensively used to offer products and services to customers. Technology has made customer service beyond 9am – 5pm, ATM, Internet and mobile banking access provide easy and 24/7 access to major BFSI services. It has brought in transparency by providing real time access to current account status and transactions and has also reduced costs.
This technology advancement has brought in several opportunities for technology professionals in this sector. Companies are constantly looking for ways and means to enhance the customer experience and to come up with innovative products and services while also keeping up with the changing trends. Jobs in this sector could be categorized under two profiles – one is at an entry junior level, where the aspirations are associated with learning and developments and to a certain extent onsite opportunities and the other is at a senior level, where there is an incubated interest to work on state of the art technologies different liens of business in the domain and in the various phases of the life cycle of the software development. We offer team members with opportunities that are spread across all phases of software development lifecycle that include design development testing and support in the application development space and interesting options to work in the technology infrastructure management space such as operating system technologies, network technologies and web engineering / middleware support. Security experts (threat and vulnerability assessment) application and infrastructure support. Database Management (DBAs), CRM experts, domain experts, (ISO, BASEL I / II, SarBOx etc) are the most sought after jobs in this sector.
How can an aspirant get into this industry? A basic engineering background is imperative for any candidate. Strong analytical skills and flexibility to adapt to work across various liens of business will prove useful. Moreover experience in banking helps as people with this experience can determine the relevance of a technology design towards positively enhancing the business. A Strong pursuit for excellence willingness to innovate an ability to think for the customer hunger to learn agility and delivery orientation are among the few attributes that we look for the in our team members, According to kapur, being equipped with domain specific knowledge like GAAP, PCIDSS etc will give you an edge. Security certifications like Certified Information Systems, Security Professional (CISSP), Certified Information systems, Auditor (CISA), Certified Ethical Hacker (CEH). The global information assurance certification (GIAC) and IT Certifications like NET, Java, Oracle etc could add more value to a candidate’s resume.
According to experts firms in the BFSI sector are increasing their investments in IT as part of their strategy to increase profits and are also bringing in new products /services to the market in a quest to effectively deal with the rising customers aspiration. An increasing demand for Internet and mobile banking reveals that technology in BFSI is poised to grow and this trend will present several career opportunities for tech savvy professionals to explore.