Half of all fintech firms have put a stop to hiring staff in 2023 because of the challenging economic climate, according to a major new report. During the first half of 2022, over 4,000 fintech employees lost their roles across 45 companies, from mortgage lenders to firms processing digital payments, further highlighting the impact challenging financial times are having on a sector.
With a global recession looming, the development of financial software and the evolution of fintech innovations will have a larger impact on consumers than ever in 2023. That’s according to a new report – Exploring Fintech in 2023 – by Erlang Solutions, leading technology experts who work with companies globally to build and deliver transformative, scalable and innovative tech solutions.
Half (51%) of fintech firms are expecting to put a hiring freeze in place this year, with almost another third (31%) not ruling the idea out – and 16% already having a freeze in place.
