Central banks struggle to retain fintech talent
Private sector competition lures employees away
Holding onto fintech staff is tough for central banks, no matter where in the world they are. The Fintech & IT Benchmarks 2021 found that 70% of institutions in emerging economies have difficulty retaining fintech staff, with 67% of those in advanced economies saying the same.
Issues identified by central banks as challenges to retention include competitive salaries elsewhere (cited by 31% of respondents), private sector opportunities (26%) and career progression (12%). Three banks stressed a
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