Rapyd fintech developer survey shows a desire for collaboration

by James · November 1, 2022

Rapyd has conducted a fintech developer survey which reveals their challenges, opportunities and a desire to collaborate within the developer community.

The fintech-as-a-service provider conducted global research among web developers who wanted to identify the daily challenges and opportunities associated with their roles, with the results showing that respondents embrace two methods of collaborating and learning new skills: developer communities and hackathons.

The survey showed that the most dominant opportunities in the fintech industry, identified by web developers, are:

Real-time paymentswith 39% identifying them as the leading space in terms of opportunity and innovation;

Blockchain and cryptocurrencyas stated by 30% of respondents;

Digital commercewith 29% seeing opportunities;

And alternative paymentswith a further 28% of respondents seeing development opportunities.

In terms of the challenges that web developers currently face in their roles, the results are as follows:

43% identified fraud prevention and cyber security as the most dominant technical challenge;

25% identified increased workload and lack of manpower as another challenge;

22% have stated that their fight comes from inadequate compensation and benefits;

While another 20% mentioned lack of mentorship as an additional obstacle.

These key pain points suggest that staffing shortages and a lack of proper human interaction are impacting skills, training and growth opportunities among web developers across the board.

Rapyd has conducted a fintech developer survey which reveals their challenges, opportunities and a desire to collaborate within the developer environment.

Further findings about collaboration and what it entails within the developer environment

A terminal “State of Remote Engineering” 2022 study reveals that among the web developers surveyed, 55% reported suffering from a lack of daily social personal interactions, while 40% reported loneliness or a sense of isolation.

Rapyd’s data highlights how having a sense of community helps ensure web developer engagement in their roles, with respondents reporting their preferred activities as shown below:

44% actively choose to participate in hackathons;

39% choose voluntary work technological projects;

38% contribute to developer forums.

When it comes to the rationale behind this participation, developers are motivated by a set of factors, including:

Commenting on the report’s findings, Rapyd officials have stated that the results come as proof of developers’ need to collaborate with like-minded people to solve challenges, highlighted by the company’s Developer Community, which brings together over 50,000 members in the global fintech the developer community to solve problems, collaborate and learn new skills. With the tech industry looking to have more developers recruited into the sector, companies should keep in mind to offer ongoing training and fair compensation to ensure they retain the best suited people. In addition, company representatives added that the industry should know that developers are looking to be part of a collaborative community that fosters innovation, and should make sure to create puzzles, challenges and rewards to help create communities that build for the future of fintech .