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Is FinTech dead? Hyper-specialism is the new kid on the block
London, United Kingdom 7th February 2023
Hi ,
Storm2 would like to announce the launch of Payments by Storm2. A hyper-specialised sector in which they’ve already been working the market for the last three years.
After some extensive research into the FinTech market, Storm2, FinTech leaders, have launched a new ‘baby brand’ to highlight their Payments sub-sector. Storm2 continue to be innovators by breaking away from the traditional subsector structure to distinguish themselves in the Tech industry. They believe that individual sectors should have their own chance to thrive and by providing this opportunity, this also aids the generation of revenue for the company. As leaders and innovators, Storm2 are the only recruitment company that has started to divide itself into hyper-specialised sectors.
In the last couple of years, the way the world makes payments has taken a dramatic shift and consumers are making electronic payments now more than ever, accelerating the digital transformation and demonstrating the wide range of choices that consumers now have regarding payments. The digital payments space has expanded massively over the past few years and is not slowing down. By the end of 2023, researchers estimated that the embedded payment industry will grow by 40.4% annually. Furthermore, 52% of businesses plan to sell through social commerce payment channels, with £490m being generated in 2022, this is expected to skyrocket to £1.2T in the next 24 months. Even McKinsey, a management consulting company, expect the Payments industry to grow to £2.5T by 2025.
Steffan Osman-Wiggan, VP of Strategy for Levin (Storm2's parent company) said:
"Five years ago, FinTech was the new kid on the block in the world of financial services. Storm2 was an innovator in a space where FinTech was still a fairly niche sector with little to no specialist recruitment services. After the acceleration of digital transactions and the huge amount of investment it’s had over the last few years, FinTech is becoming the new norm for consumers and businesses alike.
The launch of our specialist Payments service is a decision not unlike our initial launch into FinTech recruitment back in 2019. FinTech is no longer the niche sector it was and the businesses we work with don’t want a one-size-fits-all approach. Our Payments team will work solely with digital payments business, from start ups to enterprise accounts, partnering with them to connect senior talent that meet their unique requirements."
Storm2 is demonstrating to other FinTech recruitment companies why hyper-specialism is needed and should be championed for spearheading this campaign because this is the future of FinTech.
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