Rapyd fintech developer survey shows a wish for collaboration

Tuesday 1 November 2022 13:38 CET | News

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


The fintech-as-a-service provider carried out global research amongst web developers looking to identify the day-to-day challenges and opportunities associated with their roles, with the results showing that the surveyed are embracing two methods for collaborating and learning new skills: developer communities and hackathons. 

The survey revealed that the most predominant opportunities within the fintech industry, as identified by web developers, are:
  • Real-time payments, with 39% having identified them as the leading space when it comes to opportunities and innovation;

  • Blockchain and cryptocurrency, as stated by 30% of respondents;

  • Digital commerce, with 29% having seen opportunities;

  • And alternative payments, with another 28% of respondents having spotted development opportunities.

When it comes to the challenges that web developers are currently facing in their roles, the results are as follows:

  • 43% identified fraud prevention and cybersecurity as the most predominant technical challenge;

  • 25% identified the increase in workload and shortage of workers as another challenge;

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

  • Whereas another 20% mentioned the lack of mentorship as an additional obstacle.

These key pain points suggest that staff shortages and lack of proper human interaction impact skills, training, and growth opportunities amongst web developers across the board. 

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

Further findings on collaboration and what it entails within the developer community

A Terminal ‘State of Remote Engineering’ 2022 study reveals that amongst the web developers which have been surveyed, 55% have reported suffering from a lack of day-to-day social personal interactions, while 40% have reported loneliness or feelings of isolation. 

Rapyd’s data highlights how having a sense of community helps ensure web developer’s engagement within their roles, with the surveyed having reported their preferred activities as seen below:

  • 44% actively choose to participate in hackatons;

  • 39% opt for volunteering on tech projects;

  • 38% contribute to developer forums.

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

  • Learning about new technologies (55%);

  • Winning prizes (51%);

  • And collaborating with other developers (45%).

When commenting on the findings of the report, Rapyd officials have stated that the results come as a proof for the developers’ need to collaborate with like-minded people in solving challenges, something that is highlighted by the company’s Developer Community, which brings together over 50,000 members within the global fintech developer community to problem solve, collaborate, and learn new skills. With the tech industry looking to have more developers recruited to the sector, businesses should have in mind providing ongoing training and fair compensation to ensure they retain the most suited people. Additionally, company representatives have added that the industry should know developers are looking to be part of a collaborative community that furthers innovation, and should ensure the creation of puzzles, challenges and rewards to help with creating communities that build for the future of fintech. 

Survey Methodology

Rapyd surveyed 797 web developers within their global community online on October 19, 2022. All respondents were over 18 and a mix of genders and ages.

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Keywords: report, research, fintech, payments , ecommerce, cybersecurity
Categories: Payments & Commerce
Companies: Rapyd
Countries: World
This article is part of category

Payments & Commerce


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