Case study

How tech is changing the way we bank

Last updated 09 January 2020

Industries-CaseStudy-FinancialServices

UK financial services innovation is changing the way we save, invest, spend and borrow.

As the largest financial hub in the world, the UK is home to the world’s most established banks and pioneering fintech startups.

The UK fintech industry is worth around £7bn, employs over 60,000 people and includes many technologies from mobile payments and digital banks, to bitcoin and blockchain.

Technological developments like these have increased banking competition and choice, helping customers and businesses to get a better service.

Mobile-only banking Atom Bank has revolutionised the way customers communicate with their banks. It has no physical branches and interacts with customers entirely through its smartphone application.

Consumers seem to like their disruptive ideas. Atom Bank has more than £1bn in deposits and is one of the fastest-growing businesses in the UK.

Monzo and Starling are mobile-only banks that have changed how we think about banking. They offer transparent services that focus on the customer experience and offer tools to help customers control their finances.

Digital-first financial solutions True Potential is a British fintech startup success story. Their online Wealth Platform is revolutionising the how financial advisers and the public invest in the stock market.

The company has grown rapidly, appearing in the Deloitte Technology Fast 50 for 3 years in a row.

Collaborative and global The UK is one of the leading locations for financial services in Europe thanks to a highly-skilled talent pool, supportive infrastructure and a strong regulatory environment.

The US firm Citigroup chose London as the site of its latest innovation lab network. The lab will focus on developing advanced technologies, such as data visualisation and high-tech computing.

Contact us to find innovative UK fintech companies.