Author:
Jennifer Osayawe Atu Afolabi, Oladapo Olakunle James, Damilola Emmanuel Ogedengbe, Funmilola Olatundun Olatoye,
Emmanuel Osamuyimen Eboigbe

Doi: 10.26480/faer.01.2024.39.49

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

This paper presents a comprehensive review of the evolving role of Human Resources (HR) in the financial services industry amidst the rapid digital transformation and the burgeoning influence of Financial Technology (FinTech). The primary objective is to explore how HR strategies and practices are adapting to the unique challenges and opportunities presented by these technological advancements. The study delves into the impact of digital and Fin Tech innovations on talent acquisition, development, and retention strategies, emphasizing the need for HR to foster organizational agility and a digitally adept workforce. Key findings indicate that digital transformation and FinTech innovations are not only reshaping the financial services landscape but also compelling HR to redefine its traditional roles. This involves a shift towards more strategic functions such as fostering a culture of continuous learning, promoting digital literacy, and facilitating agile organizational structures. The paper highlights the growing importance of data-driven decision-making in HR processes and the need for up skilling HR professionals to manage the intersection of technology and human capital effectively. The review concludes that the transformation of HR in the financial services sector is pivotal for organizations to remain competitive in this digital era. It underscores that HR must proactively embrace these changes, leveraging technology to enhance employee experience, drive operational efficiency, and align HR strategies with the overall business objectives in the context of a rapidly evolving digital and Fin Tech ecosystem. This transformation is not just a functional change but a strategic imperative that requires a holistic approach to managing human capital in the digital age.