Overcoming Tech Skill Gaps: Scaling Your FinTech Without Barriers
In the world of FinTech, where innovation drives progress and disruption are the norm, scaling your business is not just a goal, but a necessity for survival and success. However, one common obstacle that many FinTech startups and established companies alike face is the challenge posed by IT technical expertise and skill gaps. These gaps can often become significant bottlenecks, hindering growth, and impeding the journey to the next level. There are strategies and solutions to overcome these barriers and propel your FinTech to new heights.
Understanding the Challenge
According to the Australian FinTech Survey Report by KPMG, resourcing the right tech talent is one of the major challenges the FinTechs in Australia are facing. The FinTech landscape is a complex ecosystem where cutting-edge technology meets intricate financial systems. To navigate this terrain successfully, a deep understanding of both domains is essential. However, recruiting and retaining top-tier IT talent with the necessary expertise can be a daunting task. Moreover, even if you manage to assemble a talented team, the pace of technological advancement means that skill gaps can quickly emerge, leading to more business challenges.
Those skill gaps can slow down innovation, increase cost, increase security threats and many more.
Following strategies can be adopted to overcome skills gap challenge with the right timing and focus.
How iTelaSoft contributes?
iTelaSoft services extend from nurturing start-up and scale-up ventures to providing tailored solutions for enterprises. It also adds value in core product design, seamless implementations, and steadfast long-term support. Some of the key areas are KYC, Credit Verifications, Payment Processing, Ledgers, Customer Relations, and Lead Management and many more.
Innovation Enabler: We actively engage with customers from the conceptual stage, fostering an environment for novel ideas to flourish. This early involvement enriches concepts and identifies potential challenges, paving the way for transformative solutions.
Comprehensive Service Offering: We provide a full suite of services essential for the entire fintech product lifecycle. From UX design to ongoing support, our end-to-end competencies ensure seamless execution, streamlining operations effectively.
Global Expertise and Accessibility: With a geographically distributed team and strategic partnerships with industry leaders, such as AWS, Salesforce and WSO2 we offer our customers cutting-edge solutions aligned with industry standards.
Support for Startup Ecosystem: We actively engage with the broader startup community, providing tailored methodologies, technical guidance, venture engineering and investment initiatives. This fosters growth and innovation, helping startups navigate challenges and seize opportunities in the dynamic fintech landscape.
Some of our fintech engagements:
TelaSoft was involved with one of the fast-growing home loan lenders from the beginning of the digital strategy and contributed to design and implement a unique lead origination mechanism and associated tools to manage leads. Just after one year, the company was able to double its revenue and expand the core business.
One of the renowned loyalty cashback products sought support iTelaSoft for their interesting tech innovations and the relationship grew stronger since 2019. With the focussed approach on platform architecture, platform development, mobile application development, DevOps solutions and QA services helped the customer to prepare for the growth challenges in advance.
A novel Sydney based crowd funding platforms needed to complete the building of their platform with campaign management. The most recent feature enhancements such as seamless and intuitive interface helped effortless navigation and engagement throughout the investment process which enhanced the user experience, administration of payment updates, refunds processing and added seamless experience with identity verification capability through third party products.
Globally known mobile money platform launched it’s standards based QR payment platform. iTelaSoft engaged in designing and building the Payment QR code generation engine. Key problems solved were, while keeping compatibility with numerus non-standard formats already existing in the market, adopt an international standard format that’s interoperable with different African countries and telco operators.
What makes iTelaSoft unique?
Overall, iTelaSoft stands out as the premier choice for fintech support, offering a range of unique value propositions that set us apart from others.
Our commitment to early concept enrichment and continuous contribution ensures that clients benefit from our insights throughout the entire development journey.
With end-to-end competencies seamlessly integrated under one roof, including UX design, technical planning, cloud engineering, and ongoing support, iTelaSoft provides unparalleled convenience.
Collaborating with leading tech partners like AWS, ISTQB, Salesforce, and WSO2 gives us a competitive edge, delivering solutions aligned with industry standards.
Our services encapsulate a wide spectrum of talents, and our role in the fintech ecosystem is that of an Innovation Partner, uniquely positioned to drive growth, innovation, and success for our customers.
Learn more: https://www.itelasoft.com.au/services/build-engineer/fintech/
