Page 42 - Special Topic Session (STS) - Volume 4

STS560 Haniza Yon et al.

Exploratory study of key traits for the fourth
industrial revolution among employees of

financial institutions in Malaysia
Haniza Yon , Mazlina Muhammad , Devika Balan , Kok Mun Yee , Nur Ayu
1
2
4
3
Johar , Amrit Lakra, Nurul Fatin Shakira Helmi
2
3
1 Global Psytech (Malaysia)
2 Global Psytech Sdn. Bhd.
3 Bank Negara Malaysia
4 Bank Islam Malaysia Berhad

Abstract
The fourth industrial revolution (4IR) is changing the way people live and work
at an unprecedented speed. For success during this revolution, employees
require future-focused skills such as problem-solving, creativity, and critical
thinking. In the financial services industry, one effect of the revolution is the
rise of the financial technology (FinTech) sector. The accompanying
technological restructuring, which includes a shift towards a peer-to-peer
financial system, is expected to affect business models, profitability,
productivity, and employment needs in the financial industry. To survive the
FinTech wave, financial institutions will need to foster innovation and attract
entrepreneurial talents by adopting new methods of talent acquisition and
management. This paper reports the results of our measurement of
behavioural competencies among 211 employees in the Malaysian financial
services industry, with a focus on attributes that are important in a 4IR work
environment in which FinTech is taking centre stage. We also report measures
of the psychometric and statistical properties of the instrument we used, as
well as of its construct validity.

Keywords
psychometrics; talent analytics; validity

1. Introduction
Financial Technology (FinTech) is the use of new technologies in the
financial services industry. Innovations in FinTech, such as mobile banking,
cryptocurrency, and robo-advisers, are leading to a restructuring in this
industry. This restructuring, which includes a shift towards a peer-to-peer
financial system, is changing business models and affecting profitability,
productivity, and employment needs.
The Fourth Industrial Revolution (4IR) has opened up new opportunities
and challenges for many industries. Sectors such as healthcare, travel, and
agriculture have greatly advanced using 4IR technology, but in the financial
services sector, this revolution remains at an earlier stage (World Economic
Forum, March 2019). Perhaps the sophistication and complexity of the

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