fintech Articles

Corporate Titles: An outdated concept or a building block for excellence?

As we look across a set of industries—Financial Services, Technology, Fin Tech, and Consulting—we see dramatically different approaches to job architecture in general, and the use of corporate titles in particular.

The Technology Talent Demand Convergence

It wasn’t so long ago that information technology (IT) was a back office function at most firms and, while companies would look at Apple or other innovators with envy or admiration, information technology was seen primarily as a way to execute or operate more efficiently – particularly at financial services and consulting firms. While there were pockets of innovation and firms dabbled with client-facing technology solutions, the overall IT focus was on automating repetitive tasks, storing and analyzing data, and running communication systems. As a result, the market for technology talent at financial and professional services firms was a relatively soft one.

Software Development Lessons from the Technology Sector: Banks Consider New Sources of Talent

Major financial institutions are increasingly viewing the technology sector as a source of talent for key roles such as low latency trading, cloud computing, security, mobile applications and other development/architecture roles.  At the same time, in light of flat or reducing total compensation levels, banks are concerned that they, in turn, will lose staff to the technology sector and are looking to find alternative ways of motivating and rewarding key talent.

Aon Names Ray Everett Global President of McLagan

Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today announced it has named Raymond Everett as global president of McLagan. In this role, Everett is responsible for leading a team of experts who provide compensation, performance and talent intelligence to companies in the financial services and insurance industries. He leads the McLagan executive committee and is a member of Aon’s Talent, Rewards & Performance executive committee.

Managing Compensation in a Downturn

It seems like we are in for a rocky ride in 2016. While underlying economies of many countries and the financial performance of many companies still appear solid, numerous firms are preparing for a tough year ahead.

Broadening the Employee Value Proposition for Digital Talent

Almost every company is now a tech company in some way. The need for digital roles and specific skillsets in the financial services industry is at an all-time high. Firms in every sector are competing for the talent that they need to pursue innovation at the speed of today’s demanding tech environment. In fact, according to our cyber security pulse study, 95% of financial services firms plan to increase their cybersecurity headcounts in 2017. It is undoubtedly the age of digital disruption. In order to compete with emerging tech firms and their highly appealing Silicon Valley approach to attracting and retaining key employees, the financial industry must acknowledge that the broader ecosystem of rewarding digital talent is changing and transform its value proposition with it.  

Infographic: Elevate People Performance in Financial Services

It's no secret that times have changed for the financial services industry. When times were good, soaring revenue and profits covered up human capital challenges and issues lurking beneath the surface. Today, firms are emerging from the human capital bubble and need to position themselves to select, engage, and develop their most critical resource - people. In our latest infographic, get key insights and actionable tips your firm needs to rise above.

Understanding Your FinTech DNA to Create a Culture that Truly Stands Out from the Crowd

When it comes to creating compelling company cultures, financial technology (FinTech) firms are in an enviable position—they can pick and choose best practices and styles from both the financial services and technology sectors to carve out their own path.

The Spotlight: Warren Rosenstein, Partner, Global Head of FinTech, Consulting Services, and Regional Head of Latin America

Warren Rosenstein has global responsibility for McLagan’s financial technology and consulting services practices and oversees the firm’s Latin America financial services business. Warren helps clients build customized reward and human capital strategies that support each firm’s unique business requirements. He has designed solutions ranging from job architecture, performance management, incentive design, salary banding, compensation philosophy, staffing models, and productivity optimization.

Latin American FinTech Markets Growth and Its Impact on Traditional Financial Players

Many people in Latin America do not have bank accounts or credit histories, leaving them with little reason to work with banks. Consumer banking services are currently only offered by a handful of large traditional banks, making room for new players in the marketplace—more specifically, the growing FinTech sector and its low-cost offerings. Emerging FinTech firms provide opportunities for this underserved population due, in part, to their lower or non-existent fees compared to large banks that charge for almost every service. In this article, we explain specific trends and the resulting impact of FinTech in the markets of Argentina, Brazil, Columbia, and Mexico.