Developers: When It Comes To Tech Jobs, Banking Is Booming

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Whether it's cloud, coding, machine learning or AI, financial services companies are investing heavily in tech. Little wonder, then, why developers are flocking to the sector.

Customers are placing more and more faith in digital tools to manage all aspects of their lives, including their money. As such, financial services companies are increasingly becoming tech companies.

Multinational investment banking and financial services company JPMorgan Chase invests $12 billion a year in technology, of which $4 billion is dedicated to Chase Bank, the firm's consumer and commercial banking business. Not many companies, regardless of the industry, are able to work with that sort of scale, says Gill Haus, CIO of consumer and community bank (CCB) at JPMorgan Chase.

"Technology isn't an afterthought at Chase, we use all the latest technologies - machine learning, artificial intelligence, microservices, mobile, cloud - at scale," Haus tells ZDNet. "It permeates everything across the bank."

Chase currently serves more than 60 million households and has nearly 58 million digitally active customers, who rely on the technology the bank builds to manage their finances.

As of Q3 2021, the bank hasover 44 million active mobile users - an increase of 10% compared to the same period last year - and in September, 75% of total payment transactions were completed digitally.

Needless to say, there is an incredible demand for developers and other software and IT professionals in banking, says Haus - and the prospects are good. "Frankly, the sky is the limit as far as where technologists can take their careers within this industry," he adds.

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