Securing the right tech talent for BFSI in 2025
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Securing cyber, data and blockchain talent for BFSI in 2025
The Banking, Financial Services and Insurance (BFSI) sector is now at the forefront of digital transformation. Predictions show that by 2027, 80% of banking interactions will be digital. However, the once traditional banking sector is struggling to keep up.
In fact, only 30% of banks are in a position to successfully execute their digital transformation strategies.
Several complex and interconnecting challenges are creating a new sense of urgency for finding sustainable workforce solutions across BFSI. These include:
- Banking: slow hiring cycles, rigid cultures and tech talent leaving for other industries are all slowing progress.
- FinTech: steep competition for specialised FinTech talent solutions and rising attrition are impacting a traditionally agile sector.
- Insurance: legacy brand perception, an aging workforce and limited tech skills are preventing digital change.
Today, talent strategy is inseparable from business strategy. The ability to attract, engage and retain the right talent will determine who succeeds in an ever-changing environment. However, many organisations are struggling to meet the unprecedented demand for specialist skills.
In this blog, we explore how BFSI organisations can adapt to digital change. One way to achieve this is closing the gap between the high demand for tech skills and the lack of available tech talent. We’ll also discuss how AI is changing existing roles and creating new ones throughout the financial services industry.
Demand for talent in the BFSI sector is skyrocketing, but supply can't keep up
Everest Group, in partnership with Hays, revealed just how much the demand for specialist tech skills in the financial services sector is outpacing supply. High demand roles include:
- Data scientists: Businesses are becoming increasingly reliant on data-driven decision-making. Businesses now require the skills to analyse and interpret complex data sets.
- Cybersecurity professionals: Cyber threats and cyber attacks are growing more complex and sophisticated. Plus emerging technology is introducing new cybersecurity challenges and opportunities, especially when combined with an increasing reliance on interconnected systems. The industry needs skilled professionals to prevent damaging and costly cyber incidents.
The result of the increasing demand is a persistent skills gap. Many organisations are struggling to hire the right talent at scale to drive their digital initiatives forward. However, is hiring new talent even the solution?
Many enterprises are moving away from aggressive hiring strategies. Instead, they are looking toward operational efficiency using AI technology to bridge the gap.
AI is changing and creating roles in the BFSI industry
The BFSI sector’s digital transformation is making tech and data skills essential. As AI technology advances, certain roles are becoming less relevant. The 2025 Hays Future of Finance report warns of certain positions potentially becoming obsolete. These roles include, Remediation Specialist and Asset Transfer Specialist.
Across the digital financial landscape many job profiles are evolving at pace, blending financial expertise with technological knowledge. James Musgrave is the Divisional Finance Director at Hays UK&I. He explains, “A lot of people will be moving from producing reports to interpreting them with Generative AI tools. It’s a shift in focus - from data input to decision making.”
Rapid change has also meant the creation of entirely new roles to work alongside new AI tools, such as:
- Generative AI strategist: helps businesses to understand and implement generative AI technologies to achieve specific goals.
- AI integration specialist: focuses on blending AI technologies into existing systems and processes to optimise efficiency.
- AI ethicist: ensures the responsible development and implementation of AI technologies.
New opportunities can also be expected across all areas of finance. Adaptability and continuous learning will be the key for professionals to stay ahead in this changing landscape.
What are the next steps for bridging the supply gap in the BFSI sector?
BFSI leaders are seeking ways to ensure that their organisations stay ahead of the curve. At Hays, we have access to a wealth of insight on ways that the BFSI sector can help to bridge the talent gap. This can be done while still driving business, whether in finance or cybersecurity.
Karen Young, Finance Director, Hays UK&I describes the urgent need for development. She states, “Although finance has often followed traditional practices. The evolving business landscape is driving leaders to embrace change and cultivate new skills.”
James Musgrave suggests looking at the longer term, even in times of rapid change. Stating, “You need a proper succession and talent management plan. If you’re looking at the next 5 years and want top talent who can embrace change, start bringing in that talent. Next, have a plan for who will be doing what in 5 years.”
How urgently does the BFSI industry need to take action?
Creating a long-term strategy for change is essential, however now is the time for action. Rising pressure requires enterprises to be agile in the face of unpredictable macroeconomic conditions. The BFSI industry may not be as prepared as you may think. Research from the report uncovered some shocking statistics:
- Less than 15% of the workforce is AI ready.
- More than 50% of the BFSI workforce will need reskilling to keep pace with digital transformation.
To ensure your organisation is ready for the developments of tomorrow, it’s imperative to begin implementing change today.
What can we learn from other organisations adapting to the evolving talent landscape?
Enterprises worldwide are also experiencing challenges securing the right cyber, data and blockchain talent. To overcome these obstacles, some organisations have chosen to put their people at the heart of their business strategy:
- DBS Bank in Singapore is building in-house tech academies to nurture talent from the start of their careers.
- ICICI Bank in India is partnering with universities to create custom training programs. Ensuring they are training the talent of tomorrow.
- MUFG in Japan is offering employees international mobility and leadership opportunities in emerging markets like Indonesia.
Learn how to leverage the evolution of BFSI talent
To respond to digital challenges during waves of continuous innovation requires us to be flexible. This includes a willigness to create a strategy that will attract, engage and retain talent in the long term.
The Global BFSI Talent Report 2025 reveals the challenges and opportunities surrounding digital change in the BFSI sector today. You will discover short, medium and long-term strategies to secure the skills you need. Ultimately this will ensure your organisation is agile and ready to not just embrace change, but to drive it.
Download your copy today.