Fintech Recruiting Strategies to Hire Top Talent

From a global pandemic, inflation, war, rising interest rates, supply chain disruptions, and more, the market has seen an unprecedented time of instability. Despite this, the global finance industry still showed strong revenue growth, reaching a 14-year high in profitability in 2022.

However, new data suggested that the banking and financial sectors have had a pretty bumpy start this year. The high-profile bank failures, rocky global stock markets, and rising bond yields have shaken the confidence of people in these sectors. The dearth of talent in the banking industry and high employee turnover have posed a serious problem for banking hiring managers. If the financial sector does not up its game, it is going to be a tough road ahead.

Of course, you cannot control the global economy, but what you can do is strengthen your fintech recruiting strategies. By recruiting and retaining better talent, organizations can stay ahead of the competition.

Financial institutions must rethink how they attract, recruit, and retain talent. A future-back approach to talent acquisition in financial services is essential—one that focuses on the skills required over the next 5 to 10 years.

Key Challenges Faced by the Banking and Fintech Industry

The economic downturn, coupled with a wave of layoffs across fintech and big tech, has slowed the “Great Resignation” of 2022—but not for banks. According to a study by Cornerstone Advisors, nearly 9 out of 10 banks are still struggling to hire new staff or retain existing employees.

Layoffs from FAANG companies (Facebook, Amazon, Apple, Netflix, Google) should have created a strong talent pool for financial services. Yet, banks were unable to attract this workforce at scale.

A Forrester Research report suggested that concerned fintech engineers, data scientists, and professionals may consider banks as more stable employers. However, many candidates still hesitated because:

• They were seeking a more entrepreneurial and dynamic environment

• They were looking for faster financial upside

The reality is that traditional banks often struggle to offer these incentives.

1. Lack of Skilled Finance and Fintech Professionals

There is a significant shortage of skilled professionals in banking and fintech recruitment. According to the Bureau of Labor Statistics, employment in business and financial occupations is projected to grow by 7% between 2021 and 2031, adding approximately 715,100 new roles.

When replacement hiring is factored in, the industry faces nearly 980,200 job openings annually, further intensifying competition for qualified talent.

2. Inability to Offer Job Security

A Randstad study revealed that economic and job security are top priorities for workers:

• 52% are worried about job security amid economic uncertainty

• 37% are concerned about potential layoffs

This uncertainty negatively impacts banking talent acquisition strategies.

3. Rising Competition for Digital and Tech Talent

Rapid digital transformation has increased competition for professionals with both financial expertise and digital skills. Employees with fintech, data, and technology capabilities are highly sought after across industries, not just financial services.

Curating the Right Team Through Creative Fintech Recruiting Strategies

People are the most valuable asset for financial institutions. To build a resilient workforce, organizations must upskill existing employees while implementing innovative fintech hiring strategies to attract new talent.

Below are proven practices financial institutions can adopt to both attract and retain top performers.

1. Implement Early-Career and Internship Programs

Skill shortages remain a critical issue in financial services recruitment. Partnerships with universities and training institutions help develop role-specific capabilities early.

Whether remote, hybrid, or in-person, candidates prefer employers that proactively invest in skill development and employee well-being.

2. Build a Strong Employer Brand in Financial Services

A compelling employer brand is essential to successful fintech recruiting strategies. Organizations should:

• Highlight company values, culture, and growth opportunities

• Invest in employer branding initiatives such as a strong careers page, social media presence, and industry participation

The goal is to improve visibility and attract high-quality talent.

3. Support Flexible and Hybrid Working Models

According to the World Economic Forum’s Future Jobs Report:

• 83% of workers prioritize flexible hours

• 71% prioritize flexible work locations

• 35% would leave due to burnout or poor work-life balance

To support employee well-being, financial institutions should:

• Set clear expectations around workloads and deadlines

• Normalize flexible and hybrid working

• Encourage regular breaks and time off

• Prioritize mental health resources and wellbeing programs

• Promote healthy lifestyle habits

American Eagle’s work-from-home policy set a benchmark, with nearly two-thirds of financial institutions now adopting hybrid work models.

Source: Cornerstone Advisors

4. Offer Professional Career Development Pathways

Career development is one of the most effective employee retention strategies in fintech and banking recruitment. Training, mentoring, and coaching enhance engagement, productivity, and loyalty.

A Finextra study found:

• 90% of employees consider development essential

• 40% left vacant within five years due to a lack of development opportunities

Ongoing training is increasingly vital due to evolving regulations, governance models, and financial technologies.

5. Provide Competitive Benefits and Financial Support for Learning

A strong benefits package remains critical in attracting top fintech talent. Financial support for learning—whether technical, leadership, or personal development—enhances employability and long-term retention.

As of 2026, the top benefits in financial services include:

• Financial support for education

• Life insurance

• Remote working equipment

• Pension contributions

• Health insurance

Benefits should complement professional development efforts to maximize employee performance.

6. Promote Shared Values and Workforce Diversity

Corporate values significantly influence hiring decisions. Research shows:

• 54% would quit if they felt they did not belong

• 42% would reject a role if the company values did not align

To attract modern talent, organizations should:

• Actively promote diversity, equity, and inclusion

• Invest in value-driven sectors such as clean energy, financial inclusion, and community initiatives.

Win the Talent War With Smarter Fintech Recruiting Strategies

Attracting talent in financial services requires adaptability and innovation. Organizations that evolve their fintech recruiting strategies, embrace diversity, and align with market expectations will position themselves as employers of choice—driving long-term growth and innovation.

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Amit Saproo

Head Operations: RPO

Amit Saproo is the Head of Operations at ALP Consulting with nearly 17 years of experience in Executive Search, RPO, Leadership, and IT & Engineering recruitment. He leads nationwide recruitment programs across Technology, BFSI, and R&D domains, driving strategic hiring solutions for diverse client needs. Amit excels in building and managing high-performance teams that deliver scalable, end-to-end recruitment and consulting services.