BFSU Launches Youth Chapter to Jumpstart Young Professionals’ Careers

Twenty-year-old Krystal Lim’s interest in fintech was first piqued when she made her initial transaction via ApplePay in 2015.

The co-president of the Singapore Fintech Youth Chapter (SFYC) then knew that she wanted to be more than just an end-user in the future of financial services automation.

But like any journey, it was not one without its challenges.

Networking, industry literacy and scope of work were some areas she felt she and her peers would have benefitted from during her diploma years.

She said: “You know how we have all heard of financial literacy? Well, I think it would have been good if [back then] there were fintech literacy workshops or courses as well.”

On getting opportunities within fintech, she added: “I think a lot of hands-on experience happens through networking, but many youngsters are quite shy to take that first step. So if there were more strategically curated networking programmes for youth, I think that would be a good first step.”

The Banking and Financial Services Union (BFSU) has heard Krystal’s call.

The Establishment of the BFSU Youth Chapter

To attract and develop a community of young talents within the financial and fintech sector, BFSU launched its youth chapter on 3 October 2022.

The launch took place at NTUC Centre and was witnessed by NTUC Secretary-General Ng Chee Meng – who was the guest of honour at the event.

The BFSU Youth Chapter, supported by the Singapore FinTech Association (SFA) and the SFYC, will provide students and young workers with access to industry events and workshops with domain experts – co-organised by the three partners.

The youth chapter is expected to benefit 1,200 existing SFYC members from the get-go. After that, the chapter aims to grow its membership base by 500 new members yearly.

Additionally, the BFSU Youth Chapter will continue to partner with reputable employers in the finance and fintech space to offer youth internship opportunities, mentorships, and learning journeys to provide students with a holistic learning experience.

Beyond benefiting jobseekers, BFSU President Annie Lee believes the youth chapter will also benefit employers.

She said: “For companies open to grooming our future talents, they would have a talent pipeline of early career individuals for the sector. For youths, they would be able to seek career opportunities and invaluable hands-on experiences in the fintech space.

“We strive to provide a one-stop service for the financial and fintech community, acting as the bridge between established multinational corporations (MNCs), SMEs and our tertiary students, who share the same interest, to nurture and grow the financial sector.”

BFSU Executive Secretary Sylvia Choo shared that the chapter will aim to make a positive difference to young Singaporeans interested in joining this sector.

She said: “Our youth today will make up a major percentage of our future workforce, so we have a vested interest in their career pathways.

“Our youth chapter will help those who enter our workforce and our sectors have career opportunities, guidance and support and become valuable contributing members.”

A Brighter Future for Fintech

Krystal feels that this alliance between the union and association will further expand what the SFYC has already been embarking on – creating mentorship and networking opportunities for Singaporean youth locally and internationally.

She shared: “For the past few years, we have been looking at how we can put our Singaporean youth on the world map in the fintech space. This partnership with the union will allow us to explore how to channel better jobs for our members, which is the key here.

“Anyone can get a job, but how do you secure a good job that will make you stay and make you feel that it fits your aspirations? So I think these two things will be different moving forward.”