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Scope for Job in Card and Payment industry (Digital Banking) in Canada

Jan 20, 2019
6
0
Hi, This is Rohan from Mumbai, India working for one of the Indian based nationalized Bank since last 8+ years. I am working as a Assistant Manager in Credit Card operations and has experience of product Manager in Prepaid Card as well, basically a good hands on experience in Digital Banking in Indian card and payment market. I would like to know about the scope and opportunity for aspirants like me in Canada in same industry for long term
Rgrds,
Rohan Shanbhag
 

ssoy

Member
Jan 11, 2016
17
5
This is a niche segment and definetely growing. The local pool for it is less competitive than some other banking segments. I think your prospects would be good with a PR.
 
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Jan 20, 2019
6
0
This is a niche segment and definetely growing. The local pool for it is less competitive than some other banking segments. I think your prospects would be good with a PR.
Thank you sir for valuable info... Yes I am trying for Canada PR this year.. May I know u r from which country??
 

canuck78

VIP Member
Jun 18, 2017
52,969
12,771
Doesn't sound like you work in the tech side of things? Those jobs are more in demand versus business graduates who can pivot from one sector of banking to another or many young people have only been involved in business within tech. It does sound like the majority of your experience is really in credit cards. Just want to paint a more realistic picture. Think you are still entering a competitive field. Will depend on how many years you were involved digital banking and what your role was. Also depends on your degrees.
 
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Jan 20, 2019
6
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Doesn't sound like you work in the tech side of things? Those jobs are more in demand versus business graduates who can pivot from one sector of banking to another or many young people have only been involved in business within tech. It does sound like the majority of your experience is really in credit cards. Just want to paint a more realistic picture. Think you are still entering a competitive field. Will depend on how many years you were involved digital banking and what your role was. Also depends on your degrees.
Thank you sir for your realistic views on my question.... Yes, I have experience from business, operations and 40% technical part of Credit Card as well Prepaid Cards such as Travel Card as projects execution is always depends upon co-ordination with technical vendors.... However, I do not hold any pragmatic experience in tech side of Digital Banking... My overall experience is divided into 2 parts - 4 yrs in Prepaid and 4 yrs in Credit Card.. I have completed my CA-inter and MBA-Finance and a graduate in commerce field..
 

canuck78

VIP Member
Jun 18, 2017
52,969
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Sounds like you have more traditional banking experience then. Definitely no shortage of people with similar qualifications moving to Canada from all of the work on top of Canadians already hear. It's a competitive field and a field in transition. You should be living a good life in your home country. Would only leave if there is a good opportunity unless you have other reasons to move.
 
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Reactions: Rohan Shanbhag
Jan 20, 2019
6
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Sounds like you have more traditional banking experience then. Definitely no shortage of people with similar qualifications moving to Canada from all of the work on top of Canadians already hear. It's a competitive field and a field in transition. You should be living a good life in your home country. Would only leave if there is a good opportunity unless you have other reasons to move.
Thank you sir once again for your feedback... I'll surely keep the same in mind while switching the job and before taking the decision of leaving home country...
 

mahi2020

Hero Member
Oct 7, 2016
278
51
Hi, This is Rohan from Mumbai, India working for one of the Indian based nationalized Bank since last 8+ years. I am working as a Assistant Manager in Credit Card operations and has experience of product Manager in Prepaid Card as well, basically a good hands on experience in Digital Banking in Indian card and payment market. I would like to know about the scope and opportunity for aspirants like me in Canada in same industry for long term
Rgrds,
Rohan Shanbhag
sounds like you have an Indian govt job.
wud suggest to think twice before coming here and struggle like other immigrants.

if private job like icici/hdfc then dont bother and immigrate.
you can always go back and get a job I guess.

budget/money to waste: 20,000CAD if single and 30,000CAD if double, 35,000 if triple
 
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Jan 20, 2019
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sounds like you have an Indian govt job.
wud suggest to think twice before coming here and struggle like other immigrants.

if private job like icici/hdfc then dont bother and immigrate.
you can always go back and get a job I guess.

budget/money to waste: 20,000CAD if single and 30,000CAD if double, 35,000 if triple
Thanks ma'am for your advise... However, I work for private bank now... And, definately think for your advice before moving... But, then there is 1 question which is cropping up in my mind now, that why Canadian government is publicizing for express entry for immigrants if there is less vacancies available for skilled employees... Or is it so that there are more vacancies in other industries and less in banking field especially digital banking in canada??
 

mahi2020

Hero Member
Oct 7, 2016
278
51
Thanks ma'am for your advise... However, I work for private bank now... And, definately think for your advice before moving... But, then there is 1 question which is cropping up in my mind now, that why Canadian government is publicizing for express entry for immigrants if there is less vacancies available for skilled employees... Or is it so that there are more vacancies in other industries and less in banking field especially digital banking in canada??
hope you get ur answer below:

https://www.quora.com/Is-Canada-scamming-immigrants-by-importing-professionals-while-not-respecting-their-experience-or-providing-a-job
 

canuck78

VIP Member
Jun 18, 2017
52,969
12,771
Don't agree that immigrants are being scammed. Most people immigrating to Canada are also looking to benefit from being a Canadian in one way or another. I imagine @Rohan Shanbhag is currently living a very comfortable life in India. In the case of professionals living a good life in their own countries it is particularly important to think about why they want to immigrate snd what are their expectations about their potential life in Canada. In the banking segment in particular it is a sector in a bit of transition that is also trying to get rid of some of the bloated infrastructure. You have a lot of highly trained bankers who are planning on moving to Canada. Some are Canadians who have been working abroad. Brexit has only increased the interest in Canada. Canada is a relatively small country with a high cost of living but affordable compared to many banking cities. Wouldn't consider Toronto one of the major banking centres but it is the Canadian banking centre. Many of my friends that have worked in finance have spent their young adult years working and making their money in NYC, London, Dubai. HK, etc. and return when they have children. I have noticed that Canada has replaced the UK as the place to immigrate to by many South Asian communities. Immigrating may have made sense over a decade ago but many arrive without doing much research and don't have realistic expectations. All the effort has been put into getting to Canada. I don't want to discourage you from immigrating to Canada. Many people immigrate and are living great lives. Many don't find success in Canada. Whether Canada is to blame or not is another question. For example in the quora post there is a foreign trained MD. Had he done his research he would have known that getting licensed as a Canadian MD after attending an Egyptian medical school would likely not be possible. Who is to blame the system or him for not doing his research before starting medical school abroad? 2 sides to every story.
 
Last edited:

mahi2020

Hero Member
Oct 7, 2016
278
51
Don't agree that immigrants are being scammed. Most people immigrating to Canada are also looking to benefit from being a Canadian in one way or another. I imagine @Rohan Shanbhag is currently living a very comfortable life in India. In the case of professionals living a good life in their own countries it is particularly important to think about why they want to immigrate snd what are their expectations about their potential life in Canada. In the banking segment in particular it is a sector in a bit of transition that is also trying to get rid of some of the bloated infrastructure. You have a lot of highly trained bankers who are planning on moving to Canada. Some are Canadians who have been working abroad. Brexit has only increased the interest in Canada. Canada is a relatively small country with a high cost of living but affordable compared to many banking cities. Wouldn't consider Toronto one of the major banking centres but it is the Canadian banking centre. Many of my friends that have worked in finance have spent their young adult years working and making their money in NYC, London, Dubai. HK, etc. and return when they have children. I have noticed that Canada has replaced the UK as the place to immigrate to by many South Asian communities. Immigrating may have made sense over a decade ago but many arrive without doing much research and don't have realistic expectations. All the effort has been put into getting to Canada. I don't want to discourage you from immigrating to Canada. Many people immigrate and are living great lives. Many don't find success in Canada. Whether Canada is to blame or not is another question. For example in the quora post there is a foreign trained MD. Had he done his research he would have known that getting licensed as a Canadian MD after attending an Egyptian medical school would likely not be possible. Who is to blame the system or him for not doing his research before starting medical school abroad? 2 sides to every story.
I do NOT believe it either.

No-where in express entry process they say that job is guaranteed.

that link is for perspective for disillusioned PR aspirants.
 
Jan 20, 2019
6
0
Don't agree that immigrants are being scammed. Most people immigrating to Canada are also looking to benefit from being a Canadian in one way or another. I imagine @Rohan Shanbhag is currently living a very comfortable life in India. In the case of professionals living a good life in their own countries it is particularly important to think about why they want to immigrate snd what are their expectations about their potential life in Canada. In the banking segment in particular it is a sector in a bit of transition that is also trying to get rid of some of the bloated infrastructure. You have a lot of highly trained bankers who are planning on moving to Canada. Some are Canadians who have been working abroad. Brexit has only increased the interest in Canada. Canada is a relatively small country with a high cost of living but affordable compared to many banking cities. Wouldn't consider Toronto one of the major banking centres but it is the Canadian banking centre. Many of my friends that have worked in finance have spent their young adult years working and making their money in NYC, London, Dubai. HK, etc. and return when they have children. I have noticed that Canada has replaced the UK as the place to immigrate to by many South Asian communities. Immigrating may have made sense over a decade ago but many arrive without doing much research and don't have realistic expectations. All the effort has been put into getting to Canada. I don't want to discourage you from immigrating to Canada. Many people immigrate and are living great lives. Many don't find success in Canada. Whether Canada is to blame or not is another question. For example in the quora post there is a foreign trained MD. Had he done his research he would have known that getting licensed as a Canadian MD after attending an Egyptian medical school would likely not be possible. Who is to blame the system or him for not doing his research before starting medical school abroad? 2 sides to every story.
It was a great analysis... First of all, I m glad that I m getting lot of good insights from you guys... Yes I am happy with my job prospects and learnings in India in this card and payment industry in particular but there is no professionalism left in any department of Banking as such... Yes. I am clear in my thoughts that y I want to migrate to Canada and that is not because salary or better job opportunities... However, it is all about environment and culture of working in Canada and also the standard of living in developed countries like US/Canada as compared to home country... I also would like add 1 more point here that me n my wife r planning a baby in near future and want to give birth in some developed country to give a good future prospects for my child as well...
My only concern for raising this question was to get to know about future of digital banking in Canada so that before moving to Canada I can know and do some research for my industry in Canada... However, I am also ready to go for other banking jobs as well for the time being like branch banking or an accountant... Overall reading experience tells on this site has made me aware that there is no such great aspects to look after job in specific....however, migrants should have strong desire and clear in thoughts y they want to re-locate and settle in some different country... I appreciate for Ur view point...
 

canuck78

VIP Member
Jun 18, 2017
52,969
12,771
It was a great analysis... First of all, I m glad that I m getting lot of good insights from you guys... Yes I am happy with my job prospects and learnings in India in this card and payment industry in particular but there is no professionalism left in any department of Banking as such... Yes. I am clear in my thoughts that y I want to migrate to Canada and that is not because salary or better job opportunities... However, it is all about environment and culture of working in Canada and also the standard of living in developed countries like US/Canada as compared to home country... I also would like add 1 more point here that me n my wife r planning a baby in near future and want to give birth in some developed country to give a good future prospects for my child as well...
My only concern for raising this question was to get to know about future of digital banking in Canada so that before moving to Canada I can know and do some research for my industry in Canada... However, I am also ready to go for other banking jobs as well for the time being like branch banking or an accountant... Overall reading experience tells on this site has made me aware that there is no such great aspects to look after job in specific....however, migrants should have strong desire and clear in thoughts y they want to re-locate and settle in some different country... I appreciate for Ur view point...
You'll need to be a CPA jobs for accountant jobs an branch banking is an area in decline. Many branches have already closed. Just want you to have a realistic impression that your quality of life and what you can offer your children may be better in your own country. In Canada both parents usually work because they need to. While it may have been correct in the past, moving to a developed country no longer means a better quality of life. The cost of childcare is extremely expensive in Canada and mothers do not receive maternity payments unless she has worked 600 hours that year in Canada. If you want to move and you have realistic expectations including that you may not be able to get a job in the financial sector and may possibly struggle in Canada. If you are willing to work as hard and never give up then you should look into moving.
 

BC4life

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Thanks ma'am for your advise... However, I work for private bank now... And, definately think for your advice before moving... But, then there is 1 question which is cropping up in my mind now, that why Canadian government is publicizing for express entry for immigrants if there is less vacancies available for skilled employees... Or is it so that there are more vacancies in other industries and less in banking field especially digital banking in canada??
There are definitely vacancies here otherwise the government wouldn't be expanding the express entry program. Unemployment rate is currently at an historical low. THE problem is that the jobs that are available are not the seniority level most EE applicants have when coming into Canada, and are close to minimal wages. Canadian employers prefer citizens for cultural fit reasons. So if you are ready to start from the bottom you are good to go, although you must understand that it will take years for you to return to your same level. There are new immigrants who are able to get high paid jobs within days of weeks of arrival, especially if they have niche skills, but it is more the exception than the rule.

I think it is easier for business/finance professionals than for those that require licensing such as engineers or doctors. Many come and are unable to continue in their field of profession because their certifications are not recognized and they may be too old to go back to school to meet the Canadian requirements.

All being said, if you qualify for PR and do not have children yet it is worth taking your chances. You can always go back if it doesn't work out.