Banking Technology Hiring Freeze is Thawing

DBS, Oversea-Chinese Banking Corp, Citigroup are increasing banking technology talent to their tech teams in the region despite the economic downturn. Asia has been the first-in-first-out from the months-long lockdown, giving room for financial services companies in the region to step up recruiting.

Banking Technology Hiring Freeze is Thawing

Banking Technology Hiring is Happening

  • DBS
    DBS is creating 360 banking financial jobs for experienced talent who are strong in tech for Singapore. These banking technology openings include interface designers and data scientists to experts in fraud detection and compliance. DBS is also looking to train and hire more people focusing on artificial intelligence and cloud computing

  • OCBC
    OCBC plans to hire 3,000 people in Singapore this year to support job creation. While it hasn’t disclosed how many of those may be for tech positions, it’s seeking data scientists, analysts and engineers, along with mobile developers and people for information systems security roles, among others.

  • Citigroup
    Citigroup is filling up positions for the 2,500 coders it decided to hire earlier this year. These banking technology openings will be largely be based in Asia including Shanghai and the Indian cities of Pune and Chennai.

Demand for Banking Technology

The growth and expansion of virtual banking in Hong Kong and Singapore open up more opportunities for banking technology professionals. It creates a fueled tech talent competition. Virtual banks are aiming to get slices from HSBC - who has been dominating the market for a while, talent with banking technology experience become hot pies in the market. On the other hand, with the pandemic, tech funding has slowed down. As a result, some startups were struggling to survive and led to cutbacks. It allows financial firms to poach talent. The competition is on.

Banking Technology - Now!

While coronavirus forced global workforce to work from home and minimize social activities, digital platforms become significantly important. Conversations that were happening but delayed for years need to happen now. Everyone is clear that this should be in higher priority. In conclusion, projects receive greenlights and keep moving forward. 

“Over the past few months, we have certainly seen the banking sector slow down its hiring due to Covid-19,” said Bethan Howell, a Hong Kong-based consultant at financial recruiter Selby Jennings. “However, we are now seeing the hiring freezes thawing and with this, a large number of roles emerging in technology", Howell said.

To read the original full article, please visit Bloomberg.

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