Labour market in Argentina: What is it like to work in a Fintech and what is the industry looking for?

According to the Argentine Chamber of Fintech, the number of financial technology companies has doubled in the last two years despite the crisis that the country was already going through before the Covid-19 coronavirus. This growth goes hand in hand with an increased demand for talent. In this context, Maite Represas, People Business Partner at Bitso, shared with Cointelegraph en Español, her vision on how it is to work in a fintech, in a „post pandemic“ labor market

„The global crisis caused by the covid pandemic quarantine19 boosted the growth of the fintech ecosystem worldwide. In the case of Argentina, isolation precipitated the use of new means of payment, which in turn generated an accelerated digitalization of the financial system. According to statistics from the Argentine Chamber of Commerce, which brings together companies in the sector, to date the country has registered 6.5 million Clave Virtual Uniforme (CVU), the code that enables the use of digital wallets, and it is estimated that this number could exceed 10 million by the end of 2020,“ said Dams.

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„The same agency noted that the use of digital wallets during the pandemic increased by between 120 and 800 %, depending on the case. In this sense, a report by Kantar Media revealed that, with the arrival of Covid-19, 76% of consumers in the country now prefer to replace cash with electronic payment methods, even once the crisis is over,“ he added later.

Adapting to new work systems
Just as the virus imposed new dynamics in payments and financial inclusion, it also changed companies‘ internal processes. In the case of the fintech industry, the pandemic accelerated the strengthening of end-customer service channels and, at the same time, modified human resource management through the digitalization of internal relations in the work environment.

Remote working is just one of the examples that reflect the rapid adaptation that companies in the sector demonstrated in the face of these new challenges.

One of the approaches that Covid-19 introduced in the world of talent management is the need (or not) to use offices. „Although some are concerned that with this new modality companies are losing the social capital that they had managed to build, the implementation of distance working demonstrated numerous benefits. One of the most important is that employees were able to increase their productivity,“ said Dams.

He also cited a study by the firm Cushman & Wakefield, for which over 50,000 workers from around the world were interviewed. According to this data, 75% of the employees stated that, despite the current context, they can effectively focus on group and individual activities. In that sense, according to the same study, already in the stage prior to the coronavirus, those who performed tasks remotely were more committed and had better work experience than those who usually attended the office.

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„In addition to dispelling the myths about online working and low productivity, self-management and employee engagement, the forced and accelerated adoption of this new system means that the workplace in the future will not be a single space, but will be composed of several locations where employees will find comfort, functionality and well-being. That is why companies will also have to innovate by strengthening cultural connections, learning and continuous training, and consolidate the link with clients and among colleagues,“ he said.

He also said that at Bitcoin Up, for example, they are constantly looking for new ways of doing things, accepting changes and adapting to them. „In this case, we implement in all our processes the 100% remote work modality without losing the motivation of our teams and the daily exchange among collaborators. Perhaps that is why it is not by chance that, simultaneously with this transformation, we reach the million of users in our platform“, he highlighted.

The appearance of Covid-19 around the world not only demonstrated that it is possible to work without offices or borders, but it also changed the concept of work: „Now, more than ever, what is prioritized is the results and the well-being of the employee“.