Bright outlook as majority of fintech firms here plan to hire in the coming years

Start-ups were the most upbeat, with 86pc predicting substantial growth in turnover between now and 2026, according to the survey by researchers Amárach for Financial Services Ireland (FSI), the Ibec group representing the industry.

Almost three in four (73pc) longer-established firms said the same.

“In the sector in general, there is certainly still a lot of positivity, a lot of growth,” said FSI director Patricia Callan.

“Globally, we are hearing about job losses. I sense that is more of a correction from Covid.

“In general, there is huge demand for better-quality financial services and for things like better customer experience.”

However, 37pc of the start-ups surveyed said there was a shortage of technical talent and skills – particularly in areas such as software engineering and compliance – which they said was the main impediment to growth.

Almost two-thirds (65pc) of all respondents said there was not enough government support for growth.

And more than one-third (35pc) said financial regulations were hampering the expansion of their business.

The Government has pledged to create 5,000 new financial sector jobs between this year and 2026.

“All of the innovation supports and grants – that whole system – needs to be constantly under review with a view to competitiveness,” Ms Callan said.

“All of the countries are moving to offer better things.

“If we want to keep attracting people here, that is something we are going to have to get better at.”

Meanwhile, Cathy Bryce, managing director of capital markets at AIB, has been appointed the first female ­president of the Banking and Payments Federation Ireland (BPFI).

The group represents more than 125 Irish-based lenders.

Ms Bryce takes over from outgoing president and BPFI chair Jim O’Keeffe, AIB’s managing director of retail banking.

She said the BPFI is focused on providing “supports for our customers and communities” and ensuring Ireland remains “a competitive and attractive location for the financial sector that brings huge employment to the country”.

Ms. Bryce started her career in ­investment banking with Morgan ­Stanley before moving to ABN AMRO.

She joined AIB in 1996 and spent a year (in 2018) working at the National Treasury Management Agency (NTMA) before returning to AIB.

Image by: Fran Veale/Julien Behal Photography

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