The Fintech Talent Development,Competency, and Manpower Study

The Fintech Talent Development, Competency, and Manpower Study 83 Application of Competencies in Talent Management The 13 core competencies are distilled from the many inputs and deliberations with the organizations that participated in this Study. Together, they are intended to be comprehensive, but note that not all organizations will possess all core competencies. Organizations are also in different stages of developing their own competency models which are relevant to their operating environments and settings. To investigate how ready fintech organizations are to use a competency model to manage and develop their people, our survey included questions on whether a competency model was in place, in which area(s) of talent management was the competency model being applied, and any evidence of positive influence as a result of the application. Our survey discovered that close to two-fifths of digital-native organizations have implemented a competency model. On the other hand, slightly more than half (54%) of traditional banking organizations have a competency model in place. Among them, 41% have a competency model that caters for fintech requirements (Exhibit 28). This indicates a significant percentage of fintech organizations are already using a competency model. Exhibit 28 Percentage of surveyed organizations which have a competency model Digital-native organizations Traditional authorized insititutions 39% 54% 41% Compentency model is in place Compentency model is in place Compentency model catered for fintech requirements