Research from recruitment specialist, Robert Half Financial Services, has revealed that 52 per cent of financial services leaders have implemented blockchain due to the ability to facilitate transactions combined with the speed and cost benefits.
Nearly a third (30 per cent) are planning to invest in blockchain in the future and 14 per cent admit they should be considering investment despite having no plans for it at the moment.
As the appetite for blockchain grows, so is the demand for people with the right skills to maximise the technology. Organisations are seeking out financial services professionals with a deep understanding of the principles surrounding blockchain systems listing technology trading (51 per cent) and programming (47 per cent) as the skills most in demand.
Overall, 85 per cent of financial services executives believe blockchain will have made a genuine impact on the financial services industry by 2022. Those that have implemented blockchain report already experiencing benefits including empowered users (54 per cent), increased transparency (54 per cent) and faster transactions (42 per cent). While respondents that have not yet experimented with blockchain see the opportunity that it offers to achieve faster transactions (52 per cent), lower transaction costs (44 per cent) and user empowerment (42 per cent).
“Automation is changing the face of business, and particularly so within the skills and roles within the financial services industry,” says Matt Weston (pictured), Director at Robert Half Financial Services. “With financial crime and compliance high on the priority lists for many senior leaders in financial services, attracting skilled specialists to support the implantation is key. To keep up with the rapidly changing skill and role development, companies who adopt a flexible recruitment strategy will be best placed to adapt their resource requirements during this change.‘
