The global banking and payments industry experienced a 13% rise in new job postings related to real-time payments in Q2 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 77% increase versus Q2 2022. An overview of the impact of instant payment technology on the payments industry is included in GlobalData’s Instant Payments Market Analysis report along with information on key countries and companies in the sector and instant payment-associated risks and solutions. Buy the report here.
Notably, Computer and Mathematical Occupations jobs accounted for a 23% share of the global banking and payments industry’s real-time payments-related total new job postings in Q2 2023, up 7% over the prior quarter.
Computer and Mathematical Occupations drive real-time payments-related hiring activity
Computer and Mathematical Occupations, with a share of 23%, emerged as the top real-time payments-related job roles within the banking and payments industry in Q2 2023, with new job postings rising by 7% quarter-on-quarter. Sales and Related Occupations came in second with a share of 21% in Q2 2023, with new job postings rising by 18% over the previous quarter.
The other prominent real-time payments roles include Management Occupations with a 15% share in Q2 2023, Business and Financial Operations Occupations with a 4% share of new job postings.
Top five companies in banking and payments industry accounted for 57% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2023 were DBS Group, US Bank, Interac, Visa, and Wells Fargo & Co. Together they accounted for a combined share of 57% of all real-time payments-related new jobs in the banking and payments industry.
DBS Group posted 282 real-time payments-related new jobs in Q2 2023, US Bank 181 jobs, Interac 72 jobs, Visa 50 jobs, and Wells Fargo & Co 47 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 41.98% share of total new job postings, Q2 2023
The largest share of real-time payments-related new job postings in the banking and payments industry in Q2 2023 was in the US with 41.98% followed by India (37.53%) and Canada (6.62%). The share represented by the US was nine percentage points higher than the 33.16% share it accounted for in Q1 2023.
For further understanding of GlobalData's Instant Payments Market Analysis, Key Trends, Strategies, and Future Implications, 2022 buy the report here.