UK Fintech Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers UK Fintech Companies and it is segmented by Service Proposition (Money Transfer and Payments, Savings and Investments, Digital Lending & Lending Marketplaces, Online Insurance & Insurance Marketplaces, Others). The Market size and forecast for United Kingdom Fintech Market in transaction volume and/or revenue (USD Million).

UK Fintech Market Size

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Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR < 14.00 %
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

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UK Fintech Market Analysis

There has been negative impact of COVID-19 pandemic across different regions of the UK as well as international FinTech ecosystems, we have seen a number of key themes emerge as a result of the pandemic. It has impacted FinTech in a range of ways, and not always consistently. For instance, alternative lenders have faced a unique set of challenges in managing loan origination, risk and collections during these times. B2B FinTechs (e.g., RegTech, core banking software, data analytics providers) on the other hand, have in some instances seen the pandemic spur demand for their services, given their applications towards cost cutting, automation and reducing manual complexity.

FinTech is already vital to the UK and the value of the global market is expected to triple in the next decade. In a similar way to how the COVID-19 pandemic has introduced wide-ranging changes to the way we work and live, the impact of Brexit continues to be felt for a long period of time. While no single EU rival to the City of London has emerged yet, different Member States are taking advantage of the uncertainty presented by Brexit and are positioning themselves as new homes for fintechs.

UK Fintech Market Trends

This section covers the major market trends shaping the UK Fintech Market according to our research experts:

London Emerges Global Leader as Financial Center

London is ranked second as a top financial centre after New York. Also serving various financial products along with the Artificial Intelligence provision with the financial product serving the global market abundance of Fintech Products formanaging loan origination, risk and collections during these times. B2B FinTechs (e.g., RegTech, core banking software, data analytics providers), oayments, Transfers P2P and other stock exchanges as well as the Cryptocurrency. Also It has boosted Australia Fintech Market with various contracts and services

U.K. Fintech Market

Payment Infrastructure and International Connectivity

Interconnected ecosystem with broad-based strength across policy, talent and financial institution demand. Generational experience from a relatively mature FinTech community , abundant capital across growth lifecycle, with experienced VC and PE communities and New regional hubs anchored on industry specialisation and university connections led to the adaption of UK Fintech in U.S., India and Australia 46%, 87% and 58% respectively. Strong pool of technical talent has been key to attracting global FinTechs to India

U.K. Fintech Market

UK Fintech Industry Overview

The United Kingdom Fintech Market is highly competitive and fragmanted as United Kingdom's fast-growing, yet fragmented, digital payment landscape has been witnessing the support and poartnerships with other countries in fintech domain as well. United Kingdom is currently home to more than 800 FinTech startups that cater to numerous clients and cover a broad range of services such as digital payments, alternative finance, wealth management and blockchain, among others. There are currently over 15 million authenticated e-wallet users leaving plenty of opportunities for players. In United Kingdom, digital and mobile payment is undeniably the most developed and crowded fintech segment. The common services offered by such e-wallet or payment platforms include transfer money, pay for online transactions, like bill paying and utility bills, and point-of-sale transactions through wireless transactions from mobile, food delivery, ride hailing, etc. United Kingdom groups such as YoYo, Money Box, Transfer Services, Monjo have been focusing on innovating FinTech industry and leading the United Kingdom Fintech Market to the new heights.

UK Fintech Market Leaders

  1. MoneyBox

  2. Monzo

  3. Transfer Wise

  4. Payment Sense

  5. Starling Bank

*Disclaimer: Major Players sorted in no particular order

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UK Fintech Market News

  • In 2021, Monzo has teamed up with Wise to give their customers a simple, cheap way to send money overseas, using the real exchange rate and with no hidden fees. It will offer new features of User can see what he/ she'll pay and how long it'll take; Can save payees details; Moved international transfers to the Payments tab; option to download a PDF receipt once sent the money.
  • In 2021, London fintech StepEx raises EUR 1.1M to transform postgrad student finance. It is claimed that this model could increase cumulative lifetime earnings by as much as EUR 8 billion. Now, the next-gen fintech startup has secured EUR 1.1 million in pre-seed funding.

UK Fintech Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definitions

    2. 1.2 Scope of Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXCEUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Insights into Technological Innovations in the United Kingdom BFSI Industry

      1. 4.2.1 Blockchain-related Innovations in Fintech Space in United Kingdom

      2. 4.2.2 Insights into Open API and cloud computing ecosystem in United Kingdom Fintech Space

      3. 4.2.3 Insights into Fintech Start-ups and Recent PE/VC/Seed Funding Deals in the Fintech Industry in United Kingdom

      4. 4.2.4 Spotlight on Latest Innovations in the Global and United Kingdom Fintech Industry

    3. 4.3 Impact of COVID-19 on the Market

    4. 4.4 Insights From Asian Countries and Other fintech industries for Business Planning in United Kingdom Fintech Landscape

    5. 4.5 Regulatory Landscape Ana Industry Policies Governing the Fintech Ecosystem in United Kingdom

    6. 4.6 Market Dynamics

      1. 4.6.1 Market Drivers

      2. 4.6.2 Market Restraints/ Challenges

      3. 4.6.3 Opportunities

    7. 4.7 Porters Five Forces Analysis

    8. 4.8 Insight on IT Spending by Financial Services Sector: Global and United Kingdom**

    9. 4.9 Insights into Opportunities and Competition in the Inwards and Outwards Foreign Remittance Services Segment**

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Service Proposition

      1. 5.1.1 Money Transfer And Payments

      2. 5.1.2 Savings And Investments

      3. 5.1.3 Digital Lending And Lending marketplaces

      4. 5.1.4 Online Insurance And Insurance Marketplaces

      5. 5.1.5 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Competition Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Revolut

      2. 6.2.2 Monzo

      3. 6.2.3 TransferWise

      4. 6.2.4 Payment Sense

      5. 6.2.5 Starling Bank

      6. 6.2.6 Nutmeg

      7. 6.2.7 Soldo

      8. 6.2.8 YoYo

      9. 6.2.9 Money Box

      10. 6.2.10 WeGift.io*

    3. *List Not Exhaustive
  7. 7. FUTURE OF THE MARKET

  8. 8. DISCLAIMER & ABOUT US

**Subject to Availability
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UK Fintech Industry Segmentation

The United Kingdom Fintech are one of the fastest growing Fintech Industry as the businesses and people are more preferring the digitized manner of choosing the financial product for their investmenst evaluation and payments. A complete background analysis of the United Kingdom Fintech Market, which includes an assessment of the economy, market overview, market size estimation for key segments, and emerging trends in the market, market dynamics, and key company profiles are covered in the report. The United Kingdom Fintech Market is Segmented by Service Proposition (Money Transfer and Payments, Savings and Investments, Digital Lending & Lending Marketplaces, Online Insurance & Insurance Marketplaces, Others). The report offers Market size and forecasts for United Kingdom Fintech Market in transaction volume and/or revenue (USD Million)

By Service Proposition
Money Transfer And Payments
Savings And Investments
Digital Lending And Lending marketplaces
Online Insurance And Insurance Marketplaces
Others
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UK Fintech Market Research FAQs

The United Kingdom Fintech Market is projected to register a CAGR of less than 14% during the forecast period (2024-2029)

MoneyBox, Monzo, Transfer Wise, Payment Sense and Starling Bank are the major companies operating in the United Kingdom Fintech Market.

The report covers the United Kingdom Fintech Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Fintech Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

UK Fintech Industry Report

Statistics for the 2024 UK Fintech market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. UK Fintech analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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UK Fintech Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)