visimoney
TLDR:
- Fintech companies are turning to Poland as a talent hub due to its affordability and access to skilled professionals.
- Poland offers both cost-effective and quick set-up options for fintech firms looking to outsource key functions.
- The country has a pool of talented engineers who have been trained by established banks and hedge funds.
Fintech companies facing funding challenges are increasingly looking to Poland as a talent hub, as they seek to maximise their financial potential. Many companies are turning to outsourcing as a viable option, as it provides access to skilled professionals at a more affordable cost. Poland has long been known as a hub for cheap developers, with an abundance of engineering talent that has been trained by established banks and hedge funds.
In particular, Poland offers a number of advantages over other potential outsourcing locations. The country is not only cost-effective but also quick to set up, with the ability to establish an entire team within a matter of months to a year. Additionally, the financial services experience available in Poland makes it an invaluable resource for fintech companies. Established banks like JPMorgan, Goldman Sachs, Credit Suisse, and Citi have been operating in Poland for some time, training up local talent in financial services.
Compared to other outsourcing options, such as India, Poland offers a more stable market and higher job tenure. Fintech companies are looking to avoid repetitive hiring cycles and the associated costs. However, salaries in Poland are still significantly lower than those in major financial centers like London. According to Matthew Abbot, associate director of recruitment firm Charles Levick, salaries in the region are estimated to be 60% lower than in London.
Revolut has been one of the most active recruiters in Poland, hiring almost 200 employees in the past year. The company’s rapid headcount expansion plans have seen it bring on board developers, financial controllers, and analysts from established banks like State Street, HSBC, and Credit Suisse. Other fintech companies, such as Form3 and Zilch, have also hired professionals from established banks like UBS and Goldman Sachs. Overall, fintech companies are increasingly turning to Poland as a talent hub to access skilled professionals at a more affordable cost.
