Fintech sector a bright spot in a challenging job market: Alvin Tan

He says firms are expanding, and there are good opportunities for young job seekers

- Sheila Chiang

Singapore's fintech sector remains a bright spot in a challenging job market, offering promising career opportunities for young job seekers, said Minister of State for Trade and Industry Alvin Tan.

Speaking at Fintech Youth Day on July 29, he said that headcount in the fintech sector is growing and companies are expanding.

Financing in the space is also growing, with Airwallex and Thunes among those that recently raised funding.

"They are getting funding in the so-called difficult environment. So you're all in the right space. The financial sector is hiring. The fintech sector is hiring. It's a really good opportunity for all," Mr Tan said.

The fintech sector employs about 10,000 people across approximately 1,800 fintech companies, with jobs spanning compliance, product, trust and safety, risk management and more. Between 2021 and 2024, the financial sector added an average of 4,400 net new jobs annually.