The payment industry in the US has come a long way in the last 10 years. Arguably, it is one of the most dynamic and rapidly evolving industries globally. The availability and extensive use of digital channels have contributed significantly to the dramatic evolution of the payment Industry. One of the biggest challenges the industry faces is the availability of skilled talent. The industry requires specific skill sets to combat the seen and unforeseen challenges because of the dynamic nature of the industry.
The requirements of talent in payment companies are not that simple either. They require people to have some domain experience apart from broad technical knowledge and specific functional skills. According to LTP estimates, the payments industry will create more than 40,000 new opportunities in the next couple of years. Will the current supply be enough? Is the talent coming out of colleges going to fill this gap?
LTP has come up with a three-page sector snapshot catering to the problem of developer availability in the payments Industry. The report gives the talent overview of software developers in the US payments and financial services industry.
According to the sector snapshot, the demand for developers in the US payment sector is around 397,500 in 2015 and expected to be at 516,830 by 2020.
Table of Contents:
1. Demand and Supply Gap of Developers in Us Payments Industry
2. Developer Talent Pool Split by Region
3. Developer Talent Pool Split by Industry
Note: A Segment Snapshot is a crisp analysis (3-5 pages) of specific FinTech segment or a specific region. Every snapshot is divided into different sections: segment definition, market sizing, and growth trends, main players in the industry, business trends, consumer trends and legal trends.