Fintech Hiring Trends

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Intoduction

Fintech is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.The use of smartphones for mobile banking, investing services and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public.

Goal

In this research we intended to find relevant growth of fintech by analyzing the demands for the fintech jobs needed by largest US banks. We gathered the data of the banks and performed relevant data analysis to get to the conclusion of how and by what margin the fintech industry is growing.

Overview

• Methods : Data mining, Data Scraping, Data Engineering
• Skills : Python programming, Analyzing data, Generate Visualization, Data cleansing, Pipelinig
• Deliverables : Docker image of pipeling, Visualization Report, Analysis report

My role

To lead one of the tewelve teams which was responsible for scraping data of 2 of 24 banks and generating datasets. My teammates (3) were responsible for data gathering, merging from other 11 teams. I was also involved in the phases of data cleansing, feature engineering, data analysis and generating reports.

Process Overview

Research Strategy

1. Building Dictionary

We fetched the text from reports on Fintech by World Economic Forum, based on the fetched text we tokenized each word using bigram, unigram techniques. The tokenized words were then lametized and later ranked using tf-idf vectorizer and wordcount strategy.

Below is the wordcloud of the reports
Word clouds (also known as text clouds or tag clouds) work in a simple way: the more a specific word appears in a source of textual data (such as a speech, blog post, or database), the bigger and bolder it appears in the word cloud.

The ranked top 104 words were then clustered in 9 different buckets based on their relevance.We considered 9 buckets ie Payments, Blockchain, Trading, Investment, Lending,Insurance , Data & Analytics, Security and Software Development. Then we further divided these buckets into two buckets ,Financial and Technology. The words related to the financial domain were classified under the finance domain and the words related to the technical domain were classified under the technology domain.

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2. Fetching Bank Hiring Data

We scraped / mined career webpages of banks and fetched each job posting for past 2 weeks for relevant analysis. The process also involved checking of each job post for the next 3 weeks to deduce that how fast the job posting are being filled by the applicants.

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3. Feature Engineering - Classifying job as fintech or non-fintech

Algorithm followed to decide if a job is Fintech or not and the reason behind it ?

Step 1. Compare the words in the Dictionary with the job descriptions total count of financial and technical words from the job description.

Analysis

Job Openings in USA

As of February 2019, JP Morgan had the largest job opening with estimated count of around 535 followed by Bank Of America (472) and Capital One(314).

Top Location for hiring

Inferring data we observed that NYC has largest job openings, followed by Atlanta and Riverwoods

Overview of Job Buckets

Below bar chart helps us to conclude that the number of pure fintech jobs is slightly greater than the pure technology jobs where as the finance jobs outweigh both by a very large number.

Top Location for hiring

We segregated the data firstly on the basis of the link status that is whether the links are active or not. Then we used the filter of location that is whether a job location is in USA or not. Then we plotted the graph between the axes : the name of the banks and the count of the fintech jobs and non fintech jobs in those banks.We concluded that the number of job openings in both Fintech and non Fintech are the highest in JP Morgan followed by Bank Of America where as Fifth Third bank has the least number of openings in both the sectors.

Overall Comparison

Using both the filters that is whether a link is active or not and that whether the jobs are fintech or not we plotted the overall comparison. We concluded that the weightage of active non fintech jobs is greater than the active fintech jobs by a significant amount and the same conclusion was made that the inactive non fintech job was greater than inactive fintech jobs.

Inferences

As per the analysis, we see that the category with the greatest number of Fintech Job is ine the Technology Development sector. This clears the common misconception that Tech Development or Software Development cannot be a key area of Fintech. Our analysis also shows that most of the banks in U.S are hiring in the Fintech sector for about 20% of their overall job openings in and out of the country. What Fintech strives is to apply technology to ease the delivery of financial services. As we all know, there can be no data without an application, there could only be analytics if there are applications or software to generate that data. So, this justifies our analysis that Tech Development is also a Key area of Fintech Job. The other key areas of Fintech as we categorized are Data & Analytics, Applied Security, Trading, Investments, Payments, Lending and Insurance. So, as we look through these key areas in our analysis for the top 24 banks, we can say that an individual who is looking for a Tech or Analytics in the Fintech Industry will find the most number opportunities within the country as well as offshore.

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M - Sanitation

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Intoduction

The imperative to address sanitation issues on a large scale stems from its profound impact on public health conditions. A significant contributing factor to this challenge is public defecation, a practice that has been observed to frequently lead to various health-related problems. These incidents are particularly prevalent in the rural areas of India, where a lack of awareness about the consequences of insufficient sanitation and hygiene prevails.

In response to these critical needs, we have developed a survey aimed at alleviating the sanitation crises faced by India. This survey is designed to raise awareness, identify key issues, and contribute to the reduction of health risks associated with inadequate sanitation practices in the country.

Goal

This study tackles sanitation challenges experienced by individuals in both rural and urban areas, aiming to identify a viable solution capable of mitigating the adverse costs associated with unhygienic sanitation conditions.

Overview

• Methods : Report Review, Surveys - Online and Onground, ML Model development, Application Development
• Skills : Data Science, Analysis, Interviewing
• Deliverables : Survey paper, Application Prototype

My role

The process involves creating an application, administering online surveys, analyzing the gathered data, and establishing effective communication between the development team and the on-ground survey team in India.

Team Members

Siddhesh Keshkamat, Avinash Chourasiya, Vaibhav Raj, Rohit Jain

Process Overview

Statistics Study

World's Number

According to findings in the WaterAid report titled "Out Of Order: The State of the World's Toilets 2017," global sanitation statistics are a cause for concern. The prevalence of unhygienic or inadequate sanitation is on the rise, contributing to the increased incidence of diseases, particularly among vulnerable populations. This underscores the urgent need for concerted efforts to address and improve global sanitation conditions.
Report: Out Of Order: The State of the World's Toilets 2017

India's Standing

• Every year, 60,700 children under the age of five succumb to diarrheal diseases related to inadequate sanitation.
• A concerning 40% of the population engages in open defecation practices.
• A staggering 732 million people in India lack access to decent toilets.
• Alarmingly, 56% of the population is deprived of adequate toilet facilities.
• The impact on child health is evident, with 39% of children under the age of five experiencing stunted growth, highlighting the urgency for improved sanitation measures.

Analysis and the Solution

Analysis of India's Sanitation Problem

Addressing the challenge outlined above, the primary cause of open defecation is the insufficient access to toilets and water scarcity. Even when toilets are provided, they are either situated at a considerable distance for daily use or are inadequately maintained. Additionally, there is a crucial necessity to actively promote the utilization of available toilet facilities.

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And the solution

Considering the needs we discussed, we have come up with a survey which if implemented will help reduce the percentage of open defecation gradually. Thus a system application that would assist the users to locate toilets in nearby areas as per their convenience will help them to keep their surroundings clean and better to live.

A number of factors like, water provision, toilet construction, maintenance and financial aid come into picture while addressing this concern. Basically our system aims to lessen the human intervention for the entire process which would in turn become cost effective. Our system to sanitize and digitize the country would be treated as an android application initially and then further it will be developed on IOS platform as well.

The three proposed schemes Mobile toilets, Stationed toilets and Rental toilets have an equal importance with respect to this initiative.

1. Mobile Toilets

   Mobile toilets are the one which can be moved very easily from one place to another. These may be used in rent a toilet for services as well as for providing additional functionality to users thus locating nearest mobile toilets available to them for usage. One of the main reason for using mobile toilets is that it does not require any external sewage or any disposable functionality, rather it is completely self-compliant for this.

2. Stationed Toilets

   Stationed toilets are the ones which are constructed in every area for the users to easily locate the same. The toilets that are registered with us by hotel owners will also be categorized under stationed toilets. With such hotel and restaurant toilets being considered, the maintenance cost will be minimized and there is no need of separately constructing public toilets for usage.

3. Rental Toilets

   Rental toilets is a concept where the users can rent a particular toilet according to their convenience for different events such as weddings, parties, etc. This will help keep the surroundings clean and also avoid open defecation. For rental service, the user will have to pay some amount to the owner of the toilets depending duration for which the service is required.

Download Survey Paper & Report

Implementation

The system will be having two main sides: the user side and the vendor side.

• User Side

  Whenever a new user registers on the mobile application, he/she will just need to enter UIDAI number to which he will be verified through an OTP on the registered number of UIDAI, login needs to be done only once and not every time the user want to access.

  Initially as a start, each user will receive 100 credits to use the app and later on every user will be asked to pay a minimal amount of charge for the usage of the service. At the time of the login process, the users will have to enter a few basic details which would help the application to keep a track of the preferences. Once the login process is completed, Users will be redirected to the map page with all the toilets displayed on it. If the user wants to search for mobile toilets along with stationed toilets, he will be required to check the mobile toilet checkbox on top of the map. Users will be prompted with all the toilet locations with distance, pricing, availability, average waiting time & user ratings mentioned on it. The user needs to select the toilets based on his/her convenience and pay accordingly if required. Upon selection, user will be assigned a barcode for the particular selection.

  If user selects free toilet usage then he/she will be prompted with an AD on the top of barcode page for the revenue purpose which can then be used for the maintenance of the toilets. This barcode can be used to unlock the door of toilets. Once the usage is completed user will be prompted to rate toilets accordingly. There will also be a feedback section available wherein the users can suggest any improvements if required.

• Vendor Side

  Our application will also provide the owners of hotels, houses and mobile toilets to get registered with us. This allows them to make their toilet listed on our system database. The vendor is allowed to declare the toilets free or they can levy some cost depending on their service criteria. Once registered with us, the vendors will be verified based on their criteria mentioned and they will be given a system lock for their door. These door can be opened only through 2 keys, one through 4 digit code and second through a barcode generated on user’s phone. This will help to include more number of toilets for usage in case of emergencies.

• Rent a Toilet

  User can select a tab on the top ‘Rent’ where he will be provided with the information of mobile toilets or portable toilets to rent and their cost to which a payment can be made and the person will be delivered the facility. The user can rent a toilet facility for a specific period of time which can be used in various locations like wedding ceremony, rural parts with no toilet facility, events etc.

Download Survey Paper & Report

Source Code

Source code to M-Sanitation System Application
Source code to M-Sanitation User's Android Application

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