Singapore’s fintechs see mismatch between talent and hiring demand

Startups and scale-ups are the biggest employers whilst talent comes from MNCs.

Startups and scale-ups are the biggest hirers of fintech talent in Singapore, whilst most job-seekers are from multinational corporations (MNCs) and banks— showcasing a mismatch between talent and hiring demand, according to the latest survey by the Singapore Fintech Association.

Scale-ups and startups make up 50% of the hiring managers seeking fintech talent. There is strong demand for roles in particularly recorded in product development, technology, and go-to-market functions, according to the SFA, based on a survey released in November 2025.

Meanwhile, over 50% of job seekers originate from MNCs, including banks. They bring deep domain expertise, but limited exposure to fast-paced, high-growth environments typical of startups and scaleups, the SFA said.

This skills mismatch underscore the need for reskilling initiatives, career transition programs, and mobility support.

Human resources leaders of Singapore-based banks earlier told Asian Banking & Finance of their focus in developing internal talent, with reskilling and upskilling programs for employees.

Many indicated more focused hiring strategies while scaling up automation and tech initiatives. 

Recruitment experts, meanwhile, observed an increase in contract hiring in the banking sector.

SFA’s survey expects startups and scaleups are expected to lead hiring activity over the next 12 months, with MNC talent serving as a key feeder pool for emerging fintech roles.

There is also “untapped potential” for cross-sector mobility, according to the SFA— enabling experienced  MNC professionals to transition into the startup and scaleup space.