Fintech: Industry Overview and Trends for 2024

Fintech is one of the most popular IT industries: the number of applications and products increases every year. Who doesn't use a mobile banking app or pay bills online, for example?

Recognising the increasing interest in the fintech sector among IT professionals and non-IT individuals, and given our extensive expertise in hiring IT specialists for fintech companies worldwide, we decided to delve into the industry's prospects, trends for 2024 and sought-after specialists.

What is fintech?

Fintech uses technology to transform financial services and encompasses various companies, from startups to large financial corporations.

Here are some examples of fintech products:
  • Online banks help manage bank accounts from anywhere at any time.
  • Mobile payment services to make payments using mobile phones.
  • Crowdfunding and crowdlending platforms to raise money for various projects.
  • Cryptocurrency exchanges to buy and sell cryptocurrencies.
Crowdfunding is a method of financing projects where people contribute money, typically through the Internet, from numerous individuals.

Crowdlending, a form of crowdfunding, involves individuals or companies lending funds directly to borrowers through online platforms. Borrowers promise to repay the loan with interest. Unlike donations in crowdfunding, participants in crowdlending expect a financial return on their investments.

Top 5 Professions in FinTech

Thanks to the development of new technologies, FinTech companies require various IT specialists, from software developers to ML engineers. These professionals play a crucial role in creating new products and services, enhancing the efficiency of financial operations, and protecting clients from fraud.

Here are five indispensable professions in FinTech.
Fintech industry: tech recruiting. IT recruitment agency Lucky Hunter

1. Mobile Developer

A mobile developer creates applications for smartphones and other mobile devices.

Key tasks:
  • Developing efficient code for mobile applications
  • Creating an intuitive and attractive user interface
  • Testing applications for stability, security, and efficiency
  • Releasing updates
  • And more

2. Blockchain Developer

A blockchain developer is a specialist responsible for creating and maintaining blockchain platforms.

Key tasks:
  • Creating automated and secure smart contracts
  • Developing cryptocurrencies and tokens
  • Ensuring high performance and efficiency of blockchain platforms
  • Working with decentralised applications
  • And more
Lucky Hunter Case:

A major FinTech company approached us to find a blockchain developer willing to relocate to Abu Dhabi. The perfect candidate had to have experience in Ethereum and Solidity, web3.js, and truffle stack. Despite challenges such as a demanding test assignment and a slightly below-market salary, we successfully found a blockchain developer who accepted the offer and relocated to Abu Dhabi.

Read more in the case description

3. Cyber Security Specialist

A cyber security specialist is a professional responsible for protecting information and information systems from cyber threats and unauthorised access.

Key tasks:
  • Identifying and analysing potential threats
  • Developing security strategies, including protection against viruses and cyberattacks
  • Monitoring and analysing events in information systems
  • Conducting security audits to prevent possible attacks
  • And more

4. DevOps Engineer

A DevOps engineer is an IT specialist who combines development and operations to improve and automate software development, testing, and deployment processes.

Key tasks:
  • Automating infrastructure
  • Using containerisation technologies for packaging applications
  • Creating monitoring and logging systems for real-time performance tracking and issue detection
  • Integrating security methods into development processes
  • And more

5. Business Analyst

A business analyst is a specialist who analyses company needs, develops improvement strategies, and provides valuable information for strategic decision-making.

Key tasks:
  • Gathering and analysing project or system requirements
  • Developing visual models of business processes to understand current processes
  • Researching and interpreting data to identify trends and key metrics
  • Exploring market and competitiveness
  • And more

Trends in 2024

While 2023 saw a decrease in fintech investments, experts remain optimistic about the industry's trajectory. Despite temporary setbacks attributed to broader economic conditions and geopolitical events, analysts project that the volume of fintech investments will reach $150 billion by 2025.

Here are some trends that will shape the development of fintech in 2024:

AI + Fintech = Future

In 2024, AI will play an increasingly important role in all areas, including fintech. Artificial intelligence is already being used today to enhance financial services. For instance, AI can be used to personalise investment recommendations, offer tailored product and service suggestions, and automate processes like lending and fraud detection.


Biometric payments will enhance the experience of financial transactions, increasing security and convenience. Users can make payments simply by using their unique biometric data, such as fingerprints, faces, or voices. This method makes the payment process faster, more straightforward and more secure, as biometric data is considered more reliable than traditional passwords or PIN codes.
(However, there arises a rhetorical question: with the active development of AI, to what extent will such transactions be secure, given that today it can already replicate a person's voice and appearance?)

Buy Now Pay Later

The 'Buy Now Pay Later' (BNPL) market experienced significant growth, expanding from 23.22 billion dollars in 2022 to 30.38 billion dollars in 2023. BNPL services empower customers to make purchases immediately and pay for them later, often in instalments over multiple payments. This accessibility benefits individuals with limited budgets or those aiming to avoid credit card usage. In 2024, experts anticipate active integration of BNPL services into small and medium-sized businesses.


Stablecoins connect traditional and digital currencies, poised to reshape payment methods and financial interactions. Pegged to the value of fiat currencies such as the US dollar or euro, stablecoins maintain relative stability, making them more attractive for use as a means of payment compared to other cryptocurrencies. The market capitalisation of stablecoins will grow to several trillion dollars in 2024.

Blockchain Integration

Blockchain technology is not fading into the background: it is becoming an integral part of fintech products. Transparency, security, and efficiency make it essential for online financial processes. Blockchain-based solutions allow to process payments in a matter of seconds.
In 2024, blockchain technology will be used in new applications, including payments, lending, and insurance, leading to increased investments.

The fintech industry is a rapidly developing sector that utilises new technologies to transform the financial sphere. It significantly impacts the financial system, making services and products more accessible, efficient, and secure.

For more than five years, Lucky Hunter has been connecting the best IT specialists with FinTech companies worldwide. Fill out the form, and we will contact you soon.

Alexandra Godunova
Content Manager at Lucky Hunter
Focusing on a diverse range of topics including talent acquisition strategies, employer branding, workplace culture, leadership development, and industry trends. With her extensive knowledge, she delivers engaging content that helps businesses thrive in the competitive landscape of today's job market.

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