The UK FinTech sector is booming...
Combine this with the country's well-established expertise in finance, governing support for open banking plus a growing customer acceptance and base, we know this disruptive revolution will progress.
However, the complexity of scaling a FinTech business is challenging, especially in regards to talent.
1. There is a relatively small talent pool with FinTech experience - hence the necessity to look elsewhere and be innovative for transferable skills.
2. Often the "hunting grounds" are large corporate environments, that may lack adaptability and diversity and, but more importantly, the attitude to succeed in more fast-moving environments. Executives, who are accustomed to more structured environments, have to learn to be more fluid in approach and adapt to their new surroundings, with pace. When recruiting and selecting, one must consider cultural alignment, fast growth experience and an ability to be absolute "hands on."
3. A challenge for a new brand isn't just positioning your product and messaging. It's building that brand equity through your human capital and messaging.
4. Having clarity around the product isn't enough; you need to feed into the definition of what you want the culture to become; how is this developed and managed is critical to success.
Scaling an industry with these complexities, plus compliance and regulatory issues, means the opportunity to learn from those that have ‘been there’ is compelling.
Hanover Search Group are hosting an interactive seminar with Alessandro Hatami, Managing Partner at Pacemakers, on 19th June 2019 on these very challenges and more. We are very much looking forward to learning from his wealth of experience in this sector, and also what peers and other operators have done to master this idiosyncratic industry.