The financial sector is evolving. No one knows exactly what to expect from the end result, but one thing is certain: the future will be very different from what the industry experiences today.
“I think finance and banking [is] probably the last of the big, old industries to be heavily disrupted by technology,” Tyler Griffin, CEO of Prism (a company devoted to simplifying the way consumers pay bills), told StreetID. “We saw communication get massively disrupted by technology. From Skype to Facebook to even e-mail going back 20 years. And now transportation [is] being disrupted by things like Uber and Lyft. Finance is the one that hasn’t been totally disrupted yet.”
Griffin said that most people still use a bank, which he described as an “old institution with a website and a very traditional infrastructure.”
“My advice for people would be, ‘Hey, if you really wanna change things, finance is a really interesting place to be because a lot of changes are coming,’” Griffin added. “That’s everywhere, right? It’s in investing, it’s in saving, it’s in bill payment, it’s in checking accounts and pre-paid cards. All these industries are going to be changing a lot.”
What To Learn
“Do you really need to learn how to code?” Griffin questioned. “Maybe, maybe not. There’s a lot of skill sets at our company that are now related directly to development. But I do think you, at a minimum, would want to be very [savvy] with technology because technology is going to be the disruptor in these industries and consumers are going to demand it.”
Griffin said that he is already seeing that with Prism’s customers.
“[Consumers] have expectations that, because it’s a mobile app…things will just work,” he said. “You’re held to a much higher standard as a technology company than banks are today. It’s a really exciting place to be.”
More Engineers, Please
“We want more engineers,” Griffin continued. “We’re obviously a finance company insofar that we’re helping people with their money. But the work that we’re doing is entirely through technology, through tools.”
Get Hired Now
These days, job seekers have a million options, but we know where they should turn: StreetID. We built StreetID (a financial career matchmaking website) from the ground up to accommodate Wall Street’s growing community of financial professionals. In good times and in bad, current job seekers and those looking to move on in the future can turn to StreetID and sign up for a free account and make a direct connection with relevant candidates and employers.