The Experience Gap: A Threat to Ireland’s Fintech Future
Introduction
The fintech sector has experienced explosive growth over the past decade. Traditional banks, once reliant on outdated payment systems, have shifted towards digital banking and digital payments, with increased adoption of blockchain technology. This digitalisation of the banking industry has revolutionised financial services and accelerated the rise of fintech banks.
The emergence of fintech companies has also brought about an evolved C-suite – leaders who need to drive critical innovation while expanding market share and navigating a complex regulatory environment. Demand for these leaders however is beginning to surpass supply. This article explores the hiring challenges facing Ireland’s fintech sector and how they might impact future growth.
How are Fintechs Impacting the Banking Industry in Europe
Since 2016, the fintech industry across Europe has expanded rapidly, driven by strong consumer demand for digital services. The market, according to multiple research firms, is valued at $85.5–$100 billion, with a projected compound annual growth rate of approximately 14.9–17.6%.
Despite global economic challenges, hiring has remained robust, with companies such as Revolut, Adyen and SumUp expanding their senior teams in Europe. In July, Portuguese super-app Rauva announced significant hiring plans across Europe through 2026, making it one of the fastest growing fintech companies. Super-apps — unified platforms offering multiple services — are widely seen as a key element of the next phase of digital interaction. China currently leads with examples such as WeChat and Alipay, while several European firms, including Rauva, are developing offerings in this space.
Another emerging super-app is Revolut, which is set to create more than 400 new jobs in Western Europe by 2029 as part of establishing a Western Europe headquarters in Paris. While at least 200 of these roles will be based there, the remaining positions will be distributed across key Western European markets, including Ireland.
Although many of these newly created roles require executives with deep expertise in compliance, risk management, and cybersecurity, strong finance leaders with prior scale-up experience are also in demand. To a lesser extent, fintech companies are hiring for senior roles that bridge traditional finance and new digital assets such as cryptocurrency and decentralised finance.
This strong demand for senior fintech professionals has heightened competition, with executives offered lucrative packages to relocate or change firms. As regulation becomes more complex, organisations must secure leaders capable of navigating these demands while continuing to drive innovation and rapid expansion.
Ireland’s Fintech Landscape and the Quest for Senior Talent
Ireland’s fintech sector reflects European growth, supported by a unique mix of strengths: a strong legacy in both financial services and technology, a highly skilled and educated workforce, a stable regulatory environment, and access to EU and global markets.
However, as the sector expands, competition for talent is intensifying, and many organisations report difficulty sourcing scale-up leadership. Fenergo, an Irish fintech SaaS provider, is growing with the creation of 300 jobs as part of a €100 million Research, Development & Innovation plan supported by Enterprise Ireland. This growth could help retain talent that might otherwise relocate abroad. Additionally, PayPal has announced 100 new AI and data science roles in Dublin, highlighting the city’s importance within its global AI network.
This growth is further evidenced by a recent Fintech & Payments Association of Ireland (FPAI) study which found:
• 59% of senior executives in the fintech and payments sector see Ireland as an attractive base for accessing both technical and senior talent.
• 42% of firms plan to seek further funding.
• 91% expect to hire in the coming year.
These figures, while demonstrating optimism, also highlight the likely challenges in securing sufficient senior leaders in an increasingly competitive, evolving market.
Race for Talent: How a Shortage May Impact the Future of Irish Fintech
Such scarcity of senior leadership is undoubtedly a significant challenge for Ireland’s fintech industry and could affect critical growth in several ways.
Senior leaders are essential for providing the vision and direction needed for Irish fintech companies to scale up. Scaling up is a complex process that involves balancing rapid growth with stability, security, and compliance in a fast-changing environment. Additionally, the burn rate (or rate at which capital is spent) requires close management and considerable financial expertise.
Arguably most importantly, experienced leaders are also vital for navigating the increasingly complex regulatory landscape of fintechs. Without timely regulatory approval, fintechs cannot scale up.
Finally, but equally important for a growing fintech, are the fundraising activities of C-suite leaders. They provide the essential capital needed for key activities such as product development, market expansion, marketing, and regulatory costs. Unlike traditional financial services, fintechs operate with a high ‘burn rate’ in their early stages to capture market share, which is crucial for scaling. C- suite leaders skilled in raising funds from sophisticated backers, while managing equity considerations, are key to a fintech’s success during scale-up.
Closing Thoughts
Ireland is making significant efforts to cement its position as a fintech hub, but success will depend on attracting and retaining experienced leadership. Education, industry collaboration and government initiatives are all heading in the right direction. The government’s Ireland for Finance strategy includes talent development measures. Enterprise Ireland and IDA Ireland continue to deliver vital support for scaling firms and ecosystem players such as the FPAI and Dogpatch Labs play a key role in promoting innovation and connectivity.
Whether this is sufficient will depend on execution and pace. In March, more than 120 European tech founders launched Project Europe to support young entrepreneurs locally — an example of coordinated ecosystem-level effort.
If Ireland can emulate that spirit by broadening its global attractiveness, accelerating internal leadership pipelines, and retaining senior professionals with compelling mandates and support, its fintech sector will be well positioned to translate momentum into a lasting advantage. Fintech rarely fails due to a lack of ideas; it stalls because of a shortage of leaders with proven experience.
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