What Will Be The New-Age Jobs And Careers In The Banking Sector?
Technology has made banks turn and enhance their services and helped in cutting their costs by the use of technology. The new-age jobs of the banking sectors will blend the best technology with the people’s power and make customer’s experience great.
Banking sector is one of the highest perk giving industry with big pay-outs, endless learning opportunities, demanding job responsibilities and a dynamic work environment. Maximum of the MBA’s, Economics and Mathematics students flock to these as the best career of the future.
Along with being a volumetrically industry, banking sector also witness a tremendous changes in operations and large scale technologies.
A few main reasons why making banking a career options are:
- Huge money which exponentially increases as one progresses
- Experience and exposure is dynamic and will keep you thriving
- Too many sister fields as relating to stock broking, investment banking, mutual funds, private equity etc.
With the digital revolution progress, new-age jobs in the banking sector will hunt for people who have an evolved set of skills, suggest the banks with specialising applications with predictive algorithms, virtual reality and conversational commerce.
Let’s talk about the new-age jobs in the banking sector which are the jobs of the future. The result of the influx of new technology into the banking world.
- Mixed Reality Experience Designer
Mixed Reality is going to be our primary interface in the digital world of the future. It will allow us to create any imaginary character and locate them in physical space giving us a feel of it being real. This technology will be used by our banking sector in new-age jobs. It requires designing complex three-dimensional interfaces and making them intuitive and slick. Other applications of Mixed Reality is in engineering, architecture and education, to name a few.
- Algorithm Mechanic
Algorithm Mechanic will be the new-age job for banking sector. It already does exist to some degree today also. It will help in import to the trading industry in the future. The main work of an Algorithm Mechanic will be to fine tune the computer algorithms to automate processes such as customer experience and risk management.
Such a job function is already important for brokers, retail or institutional and is its importance is expected to increase in the near future.
A good example is that of know-your-customer (KYC) regulation which is automated, but the regulation could be changed anytime. Those changes will have to be reflected in the algorithm automating a firm’s KYC process. An algorithm mechanic will be required to make such changes and ensure that the company does not have to make a wholesale change in the KYC technology.
Algorithm Mechanic is the digital transformation of the new-age jobs in the banking sector, who will tune algorithms to optimise profit and customer experience. They operate in a fast-changing environment and rising proportion of decision-making is made by algorithms. This will be used by banking customer experience and will be a skill in growing demand.
- Conversational Interface Designer
Conversational Interface Designer is an emerging skill to make the best advantage of voice and text chat box. It is one field which will grow in importance with the technology becoming mainstream.
The high-tech Conversational Banking is representing a shift from the traditional design (content, graphics and buttons) to recognising the customer’s wants, providing, meaningful responses and performing actions for the customer.
With Conversational Interface Design, banks will be able to use technology to interact with customers intelligently. It will be a two-way conversation with personalized customers, enhancing the customer engagement and operational efficiencies. This tool will effectively communicate with customers.
- Universal Service Advisor
This profession will help the banks to switch seamlessly between physical environment to virtual environment from anywhere, anytime to be able to meet customers wants. It will be exercised by service agents who will be empowered to support customers across products.
Universal Service Advisor are a combination of products and domain knowledge, along with customer communication and empathy. It involves key communication technologies performing in a virtual environment.
- Digital Process Engineer
This profession will help to analyze, assemble and optimise workflow, through maximum throughput and minimum friction. To understand large and interconnected workflows, Digital Process Engineer will need great discovery skills. Along with it, they also require creative skills to help them prototype and test solutions and diagnose problems.
- Partnership Gateway Enabler
Partnership Gateway Enablers will be required in the new-age banking jobs to balance technical knowledge of digital interfaces with an understanding of risk management and security, along with communication skills.
In a networked business world, careful monitoring, maintenance and negotiations will be needed in digital relationships with banking partners. Someone will have to keep an eye on conduct and utilisation along with ensuring performance and regulatory compliance.
More on the above discussed new-age banking jobs can be found on Acadru.com. Acadru is a multidisciplinary learning platforms which tells us more about the future of jobs coming up. Do visit the website and read more!