University of Birmingham Hackathon showcases student innovation in reducing online scams and improving payment platform user experience
Why FinTech?
With the UK recognised as one of the leading global hubs in the rapidly growing world of FinTech, it isn’t surprising that demand for talent has never been higher. Technological innovation is a key driver for FinTech growth, and companies are competing with many other sectors for tech skills shortage areas like cyber security, blockchain, AI, machine learning, big data and cloud.
Adding to the challenge, for many roles, it’s not just deep technology skills that are essential, but also broad ranging additional capabilities from project management to knowledge of financial instruments to understanding of a complex regulatory environment.
Our job at Tech Skills is to bring together employers and educators to create the pipeline of diverse tech talent that is essential for UK businesses to thrive. Given the massive growth in FinTech and the equally massive skills challenges, we have a particular focus on inspiring more students to consider FinTech careers and giving them opportunities to gain the skills that employers most need.The Birmingham FinTech Hackathon****
A very practical way to make a big difference is for employers to come together through events like the recent FinTech Hackathon at the University of Birmingham.
On 7 June 2024, over 50 students from business, finance and tech courses showcased their ideas to the blockchain-based marketplace Stoado in a day of innovation, competition and networking. Sponsored by the UK Centre for Blockchain Technologies, the event was led by the impressive student startup Jigsaw, the university’s FinTech Society, the Co-directors of Birmingham’s FinTech MSc, and TechSkills.Students were also able to network with industry professionals from Goldman Sachs, Santander, EY, Capco and Peppa.io.**Highlights of the day **
The hackathon provided a unique opportunity for students to immerse themselves in the FinTech industry, and practice working under tight deadlines and collaborating with peers. Students competed for cash prizes, gift cards and even an internship opportunity by tackling challenges such as improving cryptocurrency transactions and increasing user engagement.
Teams were judged not only on innovation and technical feasibility but also market research, business plan, problem identification, teamwork and presentation – the holistic skillset which is in such demand in industry.
Ian Bolton, Head of Learning Providers for TechSkills reflected: “A real take out for me was to witness the leadership, professionalism, energy and passion of the organisers, AI student Mohamed Elsayed and Jigsaw co-founder Sachin Bhatia, alongside the great creativity and innovation on display from all the participants. It was a pleasure to support this fantastic event which will make a real difference to many students’ FinTech career prospects.
Ian also called out thanks to @University of Birmingham staff Francesco Pierangeli, Karen Elliott, and Anandadeep Mandal, without whose vision and support this event would not have happened.Getting involved
Are you interested in supporting the next generation of FinTech talent? At TechSkills, we are committed to supporting initiatives that bridge the skills gap and prepare students for successful careers in FinTech and other high tech industries and would love to include you.
For employers, getting involved is a great way to see potential future employees in action, as well as raising awareness of the career opportunities available in FinTech them and helping students gain the skills to be successful.
There’s lots of ways to help, for example:
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Volunteer to be part of the solution by meeting with students during their university studies. Rachel would love to hear from you onrachel.king@techskills.org.
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Join us at theUniversity of Hull on 27 June, at a conference in partnership with FinTechNorth, which includes discussion a focus on enhancing the supply of skills into this growing sector. Click hereif you are interested.
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Input to plans for a FinTech Degree Apprenticeship – find out more by getting in touch with Ian onian.bolton@techskills.org.
Or just take a look at www.techskills.organd sign up for our newsletter to keep in touch. We look forward to meeting you.