Startups and fast-growing scale-ups are currently the top recruiters of fintech talent in Singapore, while most applicants still come from multinational corporations (MNCs) and traditional banks, revealing a talent-demand imbalance, according to a new survey by the Singapore Fintech Association (SFA).
Half of the hiring managers in the survey represent startups and scale-ups, with strong talent needs in product development, technology, and go-to-market roles. In contrast, more than 50% of job seekers are professionals from MNCs, including banks—individuals with solid industry expertise but less experience in the agile, high-growth environments typical of younger fintech firms, the SFA noted.
This gap highlights the importance of reskilling programs, career transition pathways, and greater mobility support.
HR leaders at Singapore-based banks previously told Asian Banking & Finance that they are prioritizing internal capability-building through upskilling and reskilling initiatives, alongside more targeted hiring and increased reliance on automation and technology. Recruitment specialists also report rising contract hiring in the banking industry.
According to the SFA survey, hiring momentum over the next year will remain strongest among startups and scale-ups, with MNC talent expected to continue feeding into emerging fintech opportunities. The association also pointed to significant “untapped potential” for cross-sector mobility, enabling seasoned MNC professionals to successfully move into the startup and scale-up landscape.
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