With the advances made in technology in recent years, digital banking jobs now offer some exciting career opportunities! Consequently, this raises the question; Could this be a double-edged sword? Naturally, many worry that the same advances in digital capability could potentially put people out of jobs.
We firstly, take a look at the most in-demand digital banking jobs right now. Furthermore, we tackle the issue of what the future might hold for those choosing a career in Fintech.
The inspiration to write this blog post came from new research commissioned by the HSBC. Their research has enabled them to predicted what the six most in-demand banking roles of the immediate future might be. Not surprisingly, they all have a distinct digital focus.
Six Most In-Demand Digital Banking Jobs
The six jobs that major banks are likely to start a surge in recruitment for include:
Universal Service Advisor
The role of a Universal Service Advisor is a crucial digital banking job. It is a Service Advisor’s job to respond to the ever-expanding customer expectations, which demand more than traditional in-branch, phone and chat app services. Banks are, therefore having to respond to these expectations by developing augmented or virtual reality contact solutions.
Universal Service Advisors facilitate seamless switching between physical and virtual environments. Being able to blend environments in this way is necessary to ensure that banks can respond to customers ever-changing needs.
Online decision-making, particularly within the banking industry, is based on algorithms. These algorithms feed on an increasingly complex input of data. Operating in fast-moving environments, Algorithm Mechanics enable banks to respond to shifts in regulation and offer brand new products.
An Algorithm Mechanic will fine-tune these algorithms continuously. These constant tweaks improve and optimise the banking experience for customers.
Mixed Reality Experience Designer
A Mixed Reality Experience Designer’s job is to design complex 3D interfaces. They achieve this by anticipating the broader role that augmented, or mixed reality will play in our digital futures.
A Mixed Reality Experience Designer is responsible for overlaying our physical world with a layer of digital data. These virtual overlays allow us to visualise any imaginable character or object in our physical space as if they were real.
Conversational Interface Designer
We’re all familiar with chatbots, which are commonplace within the banking industry to answer customer enquiries and collect information.
Conversational Interface Designers are required to enhance the way that chatbots interact with customers. Making the best use of technology, they provide an optimised user experience.
People in these roles will be responsible for building natural, low-friction, conversational interfaces which solve immediate challenges. Additionally, they will surprise and delight customers using a mixture of creative, linguistic, and anthropological skills.
Partnership Gateway Enabler
Banking organisations are increasingly working in closer proximity with other partners, such as global technology companies and Fintechs. A Partnership Gateway Enabler will monitor and maintain these crucial relationships.
Their primary responsibilities involve balancing security and risk management with communication skills and technical knowledge.
Digital Process Engineer
Digital Process Engineers are essential for the banking sector. Without them, it would be unable to manage the increasingly complex processes involved in consumer transactions and interactions.
Digital Process Engineers are responsible for overseeing complex interconnected workflows. It is their job to troubleshoot issues and ease bottlenecks in the processes, thus creating highly efficient systems which provide security and accuracy.
Will the Rise of AI Make Digital Roles in Banking Redundant?
Josh Bottomley, thinks the answer to this question is no. He said in the report, which is titled ‘Human Advantage: The Power of People’:
“Many of the roles and job titles of tomorrow are unknown to us today… One thing is certain, however – artificial intelligence will not replace human intelligence… Blending the best technology with the power of people will be the difference between good and great when it comes to customer experience.”Josh Bottomley – Global Head of Digital, Retail Banking and Wealth Management at HSBC
The above are just a few examples of digital banking jobs created by a combination of advances in technology and changing customer needs.
Of course, it is only natural for sceptics to worry that digital developments may one day put humans out of a job. However, industry leaders maintain that machines can never replace humans.
To deliver the kind of user experience that banks’ customers now expect, it will take a combination of curiosity, creativity and communication that machines alone don’t have.
If you have the kind of skills required to perform any of the above digital banking jobs, we would love to speak to you about your future career ambitions.