Lack of Talent an Impediment to Fintech Ambitions of Chinese Banks


A new report from the peak body for the Chinese banking sector highlights to a an insufficient pool of talent to satisfy the fintech ambitions of China’s lenders.

The “China Bankers Survey Report (2018)” (中国银行家调查报告(2018)) produced by the China Banking Association and PricewaterhouseCoopers indicates that Chinese bankers in general hold a positive attitude towards the rise of fintech.

According to the report Chinese banks generally believe that fintech presents more opportunities than challenges, while their expectations of fintech and digitisation are gradually increasing and there exists common consensus on the need to step up fintech investment.

The report points to a “lack of specialised and integrated talent” as the biggest problem for the development of fintech by Chinese banks.

In order to deals with the impact of fintech on their human resource needs, Chinese banks are adopting the following measures:

  • Combining external hiring with internal training;
  • Expanding the professional development channels for fintech talent;
  • Expanding remuneration and benefit support for fintech talent;
  • Expanding training for fintech talent;
  • Diversifying recruitment channels and making benchmarks more flexible;
  • Establishing human resource analysis databases;
  • Providing fintech talent with greater independence of action.