The global banking and payments industry experienced a 43% drop in new job postings related to real-time payments in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 64% increase versus Q1 2022. An overview of the impact of instant payment technology on the payments industry is included in GlobalData’s Instant Payments Market Analysis report along with information on key countries and companies in the sector and instant payment-associated risks and solutions. Buy the report here.

Notably, Management Occupations jobs accounted for a 30% share of the global banking and payments industry’s real-time payments-related total new job postings in Q1 2023, down 58% over the prior quarter.

Management Occupations drive real-time payments-related hiring activity

Management Occupations, with a share of 30%, emerged as the top real-time payments-related job roles within the banking and payments industry in Q1 2023, with new job postings drop by 58% quarter-on-quarter. Computer and Mathematical Occupations came in second with a share of 20% in Q1 2023, with new job postings dropping by 24% over the previous quarter.

The other prominent real-time payments roles include Business and Financial Operations Occupations with a 14% share in Q1 2023, Office and Administrative Support Occupations with a 2% share of new job postings.

Top five companies in banking and payments industry accounted for 53% of hiring activity

The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were DBS Group, Interac, US Bank, Mastercard, and JPMorgan Chase & Co. Together they accounted for a combined share of 53% of all real-time payments-related new jobs in the banking and payments industry.

DBS Group posted 203 real-time payments-related new jobs in Q1 2023, Interac 115 jobs, US Bank 75 jobs, Mastercard 74 jobs, and JPMorgan Chase & Co 57 jobs, according to GlobalData’s Job Analytics.

Hiring activity was driven by the US with a 34.29% share of total new job postings, Q1 2023

The largest share of real-time payments-related new job postings in the banking and payments industry in Q1 2023 was in the US with 34.29% followed by India (32.96%) and Canada (12.96%). The share represented by the US was two percentage points lower than the 36.05% share it accounted for in Q4 2022.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.