In what has already proven to be a dire year for employees in the fintech world, major fintech brands like Stripe have continued to slash their workforces, laying off workers and canceling plans for expansion. Yet for every large company trimming the fat, there are more and more small fintechs hustling to snap up that newly unemployed technology talent.
One of the most prominent companies to make noise about hiring technologists is wealth management fintech iCapital. The New York-based company maintains offices in six international cities, and has announced that it seeks to increase its technology team by 25% this year.
According to Marco Bizzozero, Head of International at iCapital, the fintech world is in desperate need of solid technological infrastructure, and that’s what his company aims to address with its hiring blitz. “The industry is so fragmented; there are custodian banks, administrators, transfer banks, and our technology needs to be end-to-end,” Bizzozero said at the London School of Economics’ Alternative Investment Conference. With the help of their newly expanded team of technologists, iCapital is positioning itself to build technology that can be “embedded across the entire ecosystem to ensure data flows digitally from one end to the other.”