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The combination of a strong financial sector, second to none digital infrastructure and an open, innovative mindset makes the Netherlands an attractive market for the fintech industry. The jobs that come with it will attract talent from all over the world.
The most popular destinations for finance expats on a global level are still mostly located elsewhere in Europe and the United States, with London a leading global FinTech capital. However, the Netherlands is a potential hotspot. According to a study by Price Waterhouse Coopers (PwC) the Netherlands is a very attractive location for number of reasons, from its infrastructure, international focus, and the language skills of the workforce.
Amsterdam is internationally known for its FinTech start-up scene. “There is a lot of knowledge, and we are in general one of the frontrunners when comes to new technologies”, says Peter Kwakernaak, CEO van fintechbedrijf AcceptEmail, in an interview with online magazine Emerce. “Look for instance at successful companies like internet payment tool Adyen, Fox-IT for cybersecurity, and Innopay for consultancy in the financial sector.”
According to a study by the Cambridge Centre for Alternative Finance, The Netherlands is, together with France and Germany, one of the biggest markets for P2P lending, followed by Finland, Spain, Belgium and Italy.
As Bart Klompenmaker, Executive Director for Michael Page and Page Executive says, "In the Netherlands, you have start-ups like Jungo and Monefy. In general, these kind companies look for two "types" of candidates: IT professionals and professionals with a more generic profile who used to work in the financial sector. The latter usually decided to leave their old companies because they thought that change was required, and was being carried out too slowly.”
Another rising Fintech hub is located in Sweden. The country, which ranks number 10 on the list of most popular destinations, is tipped to become the world’s first cashless society, depending completely on mobile apps and cards to make transactions. Swish, a hugely popular app developed jointly with the major banks including in Sweden uses phone numbers to allow anyone with a smartphone to transfer money from one bank account to another in real time.
Adopted by nearly half the Swedish population already, Swish is used to make more than 9 million payments a month. Cash transactions make up barely 2% of the value of all payments made in Sweden, with many banks no longer keeping cash on hand. The transformation of how finance is perceived at a grassroots level and the fast pace of innovation strongly indicates that forward-thinking finance candidates will be drawn to the country from well beyond its national borders.
Although Fintech is disrupting the financial industry, with disruption come opportunities. A country like Singapore, which invests heavily in Fintech, is rapidly becoming a hotspot for global job candidates in the finance industry.
For Trend Watch PageGroup surveyed 18352 job seekers worldwide, who applied on our Michael Page and Page Personnel websites during the 3rd quarter of 2017.
Of the 2145 finance professionals who participated in the study, 50% were willing to relocate, for job opportunities, a better salary or a different lifestyle.