The invention of money took place before the beginning of written history and comes in many different forms. Whether in the shape of a metal coin, a piece of paper with a historical figure on it, or a number on a computer, one thing is for certain – money is constantly evolving. The potential for innovation in finance is substantial, evidenced by the 1,113 financial technology organisations currently operating in the UK. Given the significant number of start-ups involved in the FinTech sector, it is not surprising to discover substantial growth is occurring.
Traditional banks, insurers and other large financial institutions are increasing their investments in FinTech as well. Some integrate FinTech into their existing product and service offerings, while others invest in FinTech start-ups or set up their own incubators. The European Fintech Alliance (EFA) was founded to give all businesses active in the FinTech sector a strong voice at the European political level, while industry body Innovate Finance represents the UK’s global FinTech community. Their mission is to accelerate the country’s leading position in the financial services sector by directly supporting the next generation of technology-led financial services innovators.
Employment in the sector will continue to grow as high usage of mobile devices and technology-based solutions will push the demand for financial and banking solutions, which can be accessed through personal devices. The FinTech market's largest segment is Digital Payments, with a total transaction value of US$162,006m in 2019.
Based in the City of London, our consultants are specialists in their markets, recruiting top talent for organisations across the FinTech jobs market throughout the UK and Europe.