Over the past decade, digital transformation has reshaped industries across the globe, with the banking, financial services and insurance (BFSI) sector witnessing a rapid shift towards technology-driven processes. Automation, Artificial Intelligence (AI), Blockchain and big data are now reshaping business operations and redefining traditional roles. As India moves forward at this intersection of innovation and opportunity, the employability of the country’s youth – especially in BFSI – will depend on their ability to merge digital expertise with financial knowledge, enabling them to thrive in the emerging industry. Will become major players in the scenario.
India, with more than 65% of its population under the age of 35, has one of the largest pools of potential talent in the world. To harness this demographic advantage, it is imperative that we equip our youth with the necessary skills to thrive in the increasingly digitalized BFSI landscape. The World Economic Forum estimates that by 2025, more than 85 million jobs could be vacant globally due to lack of skilled talent, with India potentially facing a skills shortage of 29 million by 2030. The number of global digital jobs is expected to increase from 73 million today to approximately 92 million by 2030.
The BFSI sector has transformed from manual bookkeeping to advanced AI-powered solutions, automation has simplified routine tasks and blockchain has reshaped the way transactions are recorded and verified. For young professionals, staying competitive now requires more than just financial expertise – they must also acquire technical skills. Entry-level positions, which once focused on manual tasks like data entry, have now shifted to digital-first roles tied to fintech tools. Meanwhile, specialized fields are growing rapidly, creating valuable opportunities for those with the right skill set.
Deloitte’s global survey estimates the total market value of the automation market to exceed $25 billion by 2027 with a CAGR of over 40%. Additionally, the demand for roles in data analytics, artificial intelligence, and cybersecurity is expected to grow by 12% annually through 2030. , according to McKinsey.
Companies that prioritize investing in cutting-edge technology while promoting workforce development are better positioned to thrive in a rapidly changing marketplace. By developing a culture of lifelong learning and encouraging continuous upskilling, they not only enhance their competitive edge but also ensure compliance with regulatory demands for digital competency. This dual approach enables such organizations to stay ahead and lead in market acquisition.
Some technical skills are becoming indispensable in the BFSI sector:
- Big Data Analytics: Financial institutions are relying on data-driven insights to predict market trends, enhance customer experience, and make strategic decisions. Professionals skilled in data analysis tools like Python, R and SQL are in high demand.
- Cyber Security: As cyber threats become more sophisticated, BFSI companies must protect sensitive financial data. Cybersecurity experts are critical in preventing breaches and ensuring the integrity of financial systems. Key skills include proficiency in programming languages such as Python, Java, C/C++ and JavaScript, as well as familiarity with security tools such as Wireshark, Metasploit and Kali Linux. Additionally, expertise in ethical hacking – identifying vulnerabilities before they are exploited – is essential to building strong financial cybersecurity systems.
- Blockchain: This technology is reshaping everything from payments to trade finance. Professionals who understand the potential of blockchain and how to implement it within the existing financial framework will find themselves in high demand. Key skills include proficiency in programming languages such as Solidity, Java, Python and Go, as well as frameworks such as Ethereum, Hyperledger and Corda. These tools enable professionals to develop and manage decentralized applications and smart contracts within the BFSI sector.
- AI and GenAI: From automated customer service bots to AI-powered loan approvals, BFSIs are adopting AI for both efficiency and personalized service. GenAI, with its ability to process large amounts of information, has tremendous potential to revolutionize the way financial decisions are made. Proficiency in programming languages such as Python, R, Java, and C++, as well as frameworks such as TensorFlow, PyTorch, and Keras is required.
Mastery of these skills not only enhances employability but also provides a faster path to leadership roles within the field. As companies look for talent who can tackle the complexities of digital finance, those who combine technical expertise with strategic financial thinking will stand out and climb the ladder to success faster.
Technology adoption is no longer optional – it is a necessity driven by both market demand and regulatory requirements. Even institutions serving rural areas have to integrate tech-driven solutions to work efficiently and meet regulatory mandates.
Digital onboarding of customers, AI-powered analytics and blockchain-powered transactions are not only improving internal efficiency but also reshaping customer experiences in real-time. In today’s competitive landscape, AI-powered recruitment solutions are revolutionizing talent acquisition, enabling organizations to streamline early recruitment stages and quickly identify high-potential candidates. By analyzing resume content for key skills and experiences, AI tools generate a curated shortlist, allowing hiring teams to immediately focus on top talent.
What makes AI-based recruiting transformative is the integration of psychometric assessments and other metrics that create a holistic view of candidates. This approach aligns technical skills with cultural competency and job requirements, improving the quality of hires while saving valuable time. By adopting AI in recruiting, companies can build efficient teams aligned with their strategic goals, positioning themselves for sustainable growth in a rapidly evolving market.
Despite the growing demand for digital skills, many young Indians still lack the training needed to succeed in the BFSI sector. Government programs like the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) aim to address this gap, but a collaborative approach involving educational institutions and financial organizations will significantly increase digital literacy.
Roles in BFSI require more than basic digital literacy; They also demand specific skills. IT risk management (using frameworks like COBIT and ISO 31000 and tools like Archer), IT governance (with the ITIL framework and ServiceNow), solution architecture (using AWS, Azure, or GCP), frontend development (with HTML ) expertise in areas like CSS, JavaScript, React, or Angular), young professionals equipped with these skills can meet the digital demands of the BFSI sector, bridging the skill gap Can and accelerate India’s progress. Tech-driven future.
India, once the global leader in back-office outsourcing for the BFSI sector, is now seeing much of this work being automated. As the country focuses on becoming the world’s third largest economy and achieving a GDP of $5 trillion, the youth will play a vital role in driving this transformation.
The future of the BFSI sector is undeniably technology-driven, requiring new entrants to be both agile and innovative. As the economy evolves, the next phase of development will depend on highly specialized, technology-based roles. To remain competitive and sustain economic progress, India’s workforce must focus on mastering advanced digital skills along with financial acumen. This strategic shift will not only help in bridging the skills gap but will also place India’s youth at the forefront of the country’s economic growth.
This article is written by Vivek Jain, CHRO, Capri Global Capital Limited.
