Financial services IT

Financial services employers such as retail banks and insurance firms use a wide range of technology to deliver products and services. A computer science degree isn't always necessary to work in this graduate technology career area.
  • Search for graduate jobs in financial services IT by typing 'financial services' into the job search box on the TARGETjobs IT homepage

The financial services sector covers a range of graduate employers including retail and online banks, pension providers, insurance and actuarial firms, and organisations such as supermarkets that have diversified into providing financial services and products (eg savings accounts, mortgages, etc).

Technology underpins the efficiency with which these organisations run their businesses, but also the sophistication and competitiveness of the products they offer. IT is used on a massive scale to support all data management, interactions and transactions and it is central to providing services through a range of channels, including internet and telephone banking, cash machines and over the counter in high street branches.

The technology division of a large financial services organisation is typically split into three main areas:

  • Application development: development of software applications used by the organisation’s staff and customers.
  • Infrastructure: provision and maintenance of servers, networks, data storage, disaster recovery and desktop terminals.
  • Support: supporting users and fixing issues with systems.

Applying for IT graduate jobs in the financial services sector

Graduates joining financial services organisations need to be passionate about both technology and the finance business. Commercial awareness is essential. A computer science degree isn’t always necessary, but employers typically prefer candidates with a technology-related degree for IT roles. You will need to be a good communicator to work with people at all levels within the business, and be a capable problem solver.

The route into larger financial services organisations is through a graduate programme. Typically graduates rotate through a number of IT function areas to gain a broad perspective on the business, for example, operations, development and infrastructure, before settling in a field of work that they can take to a higher level, such as, security, architecture or programme delivery.

Financial services organisations employ a huge range of technologies and continually look for new ways to gain an advantage, which gives those working in this sector ample opportunity to progress and work on appealing projects that can have a significant business impact.

Choose this IT career area if…

  • You want to roll out IT systems and applications that are used nationally and globally.
  • You want to be a technologist but work closely with the commercial functions of an organisation.
  • You want to work in a large organisation that offers a variety of work and progression.

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