Solving the IT conundrum for financial institutions

IT professionals are becoming an increasingly important part of small and large companies alike. This is especially true in the banking sector, which is being driven by simultaneous desires to reduce costs, increase security and provide exceptional services to clients. The dynamic growth of the banking sector, however, has made it difficult for many financial institutions to attract and retain qualified IT professionals.

Recruitment is a task that is traditionally solved “manually”, through the analysis of resumes and interviews. Unfortunately, recruiters are often unable to assess the level of a candidate and look only at a formal set of certain skills and knowledge. However, the complexity of the problems solved by IT departments is such that this is not enough. The procedure for selecting IT professionals requires careful attention to checking the real professional level. And here financial institutions face a difficult choice: use standard recruitment processes and risk getting lower levels of work that could result in financial losses or expend significant resources to select very specialized candidates, candidates who may resent having to perform other basic duties.

Some of the best modern solutions to this issue are internship programs, competitions, hackathons and corporate universities. The fact is, however, that only a systematic approach and cooperation with large training centers can guarantee the compliance of a financial institution with the requirements of the present and, most importantly, the future. It is necessary to prepare for the challenges of tomorrow today and have the right personnel in place to do so.