The National Bank of Australia is hiring 600 technology specialists to try and compete against FinTech.
NAB is looking to hire specialists within software engineering, data, architecture and security. This new initiative comes after NAB chose to reshape its workforce and create up to 2,000 new jobs by 2020, to meet changing needs of customers.
To kick off this launch of new roles, the bank is appointing two people in newly created positions. Yuri Misnik will serve as executive general manager business enabling technology, and Kyle McNamara will become the executive general manager leading the program management office.
One of the aims of this new supply of jobs is to shift from outsourced suppliers based in Australia and bring the talent to the bank.
NAB Chief Technology and Operations Officer Patrick Wright said, “We understand what the FinTechs across the world are doing, and we think we can do better, but we need to move now, invest in the right systems and people, and change dramatically.”
Australia has seen a lot of activity within the FinTech space over the past month. Earlier this week, RegTech solution APIR Systems formed a partnership with the London Stock Exchange. This was created to help Australian financial services comply with new global regulations. Australian Securities and Investment Commission signed an agreement with China Securities Regulatory Commission to share FinTech information between one another.
The biggest sector of Australian FinTech is the marketplace lending space, with it representing more than half of the total funding in the country.
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