The UK government has asked the Financial Services Skills Commission (FSSC) to outline which AI and technology capabilities the financial services workforce will need over the next decade. The goal is to support long-term sector competitiveness and ensure firms can adopt new technologies effectively.

The Focus of the Initiative

The work will look at technologies expected to shape the sector over the next five to ten years. This includes AI-driven data analysis, automation tools and new digital workflows influencing how products are developed and delivered. The aim is to understand both opportunity and practical capability needs.

Why Skills Are at the Centre of the Discussion

AI is no longer limited to specialist teams. It affects risk functions, compliance routines, customer interactions and operational decision-making. A workforce that understands how to use and supervise these tools is viewed as important for resilience, performance and innovation.

This is also tied to national economic strength. Financial services is a major contributor to the UK economy. Ensuring that the workforce can adopt relevant technology is framed as a strategic priority, not simply a technology trend.

What This Means for Fintech Startups

Fintech startups may be closer to new tools, but they are not immune to skills gaps. Many early teams operate quickly but rely on a small number of deeply technical individuals. As products scale, the whole organisation needs clarity on how AI is used, what risks need monitoring and how processes adapt.

This initiative also signals that industry-level guidance and training structures may evolve. Larger organisations, trade bodies and training partners may create shared programmes. Startups that pay attention early can benefit rather than respond later once expectations are already set.

Opportunity for Participation and Alignment

Fintech founders should watch how this work progresses. It may shape language, hiring expectations, due-diligence discussions with partners and signals used by regulators. Being informed early helps position your company as prepared rather than reactive.

Key takeaways for fintech startups

• Review internal AI and data-related skill levels across both technical and non-technical roles
  
  
• Develop ongoing learning plans instead of relying only on individual expertise
  
  
• Monitor how industry guidance develops as the FSSC’s work progresses
  
  
• Create internal clarity around how AI is used and overseen in your products and workflows
  
  
• Present your company as one that builds capability, not just software

If your fintech wants to build a clearer skills foundation for growth, Your Fintech Story supports founders with strategy and team development planning. Feel free to reach out when you’d like to explore it.