6 banking and finance professions that will bring in a fortune – but which do not yet exist
HSBC has released a new report that offers a glimpse into the future of a career in banking, predicting six surprising new types of jobs and how the role of people will evolve in the workforce.
âMany of the positions and job titles of tomorrow are unknown to us today,â said Josh Bottomley, global head of digital banking, retail banking and wealth management at HSBC.
âOne thing is certain, however, artificial intelligence will not replace human intelligence. Combining the best technology with the power of people will make the difference between good and great when it comes to customer experience. “
Lifelong learning and the need to upgrade employee skills will become critical as the shortage of qualified candidates in digital and tech disciplines continues, the report says.
âEmployers have a huge role to play in helping people continue their personal development, including working with existing staff to develop them,â said Josh Bottomley.
âWe are embedding a culture that encourages our employees to see everything through a digital lens, changing our mindset from the inside out so that we can provide a better experience for our customers. “
Below, Bottomley breaks down these six future jobs and the skills you’ll likely need to be successful in them.
Mixed reality experience designer
The consensus is growing that mixed or augmented reality (MR / AR) will be our main interface with the digital world in the future.
Overlaying our physical world with a layer of digital data allows us to create any character or object imaginable and locate them in physical space as if they were real, and this technology will likely be used to answer some of our banking needs in the future.
Basic skills: Designing these complex three-dimensional interfaces and making them smooth and intuitive will be a major new area of ââemployment for the future, requiring skills in aesthetic design, branding, user experience and 3D mechanics.
An increasing proportion of decision-making is taken by algorithms, fed by a variety of input data to reach quick conclusions.
However, these algorithms operate in a rapidly changing environment with changing regulations, new information, and evolving products. Constantly tuning these algorithms to optimize the banking customer experience and avoid times when the computer says no will be a skill in increasing demand.
Basic skills: As we move to a low-code / no-code environment for technology to work, this role will require skills in risk management, service design, and financial literacy, rather than technology skills.
Conversational interface designer
Machines have become progressively more human in their interactions over the years. Chatbots are already used in the banking industry to answer simple queries and collect information.
Where the instructions were complex strings of code, we can now talk to our machines and they will interpret our needs. Designing conversational interfaces is an emerging skill to help us get the most out of voice and text chatbots, and one that will only grow in importance as the technology becomes more mainstream.
Basic skills: Building natural, low friction interfaces that go beyond solving immediate challenges to surprise and delight clients requires a mix of creative, linguistic and anthropological skills.
Universal service advisor
The separation between digital, physical and remote service environments is crumbling. At any time, a client may wish to serve in an agency, via a chat, voice, or augmented or virtual reality application.
As mixed reality becomes the primary interface between people and machines, highly skilled service agents, empowered to support customers on a variety of products, will be able to seamlessly switch between virtual and physical environments from anywhere. and at any time to meet customer needs.
Basic skills: The essential skills for the customer advisor of tomorrow are a combination of product and domain knowledge with excellent customer communication and empathy. This will require a level of comfort with key communication technologies, including running in a virtual environment.
Digital process engineer
Many interactions with bank customers – from onboarding to replacing a lost card – follow standardized flows that balance security and regulatory requirements with the desire for a seamless customer experience.
The rate of change of these processes is likely to increase, as is their complexity, as they combine service and information components from multiple sources. A digital process engineer analyzes, assembles and optimizes these workflows, constantly adjusting them to maximize throughput and minimize friction.
Basic skills: The digital process engineer will need great discovery skills, to understand important and interconnected workflows and diagnose issues and bottlenecks, as well as creative skills to help them prototype and test solutions.
Partnership Gateway Facilitator
In an increasingly networked business world, digital relationships with banking partners, such as fintechs and global technology companies, will require careful monitoring, maintenance, and negotiation.
Since cash and customer data potentially flows between organizations, someone will need to closely monitor usage and conduct, as well as ensure performance and regulatory compliance.
Basic skills: Gateway Controllers will balance technical knowledge of digital interfaces with an understanding of security and risk management. Communication skills for partner engagement will also be highly appreciated.
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