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United Kingdom Fintech Market Size, Share, Growth, Analysis: By Deployment Mode: On-Premises, Cloud; By Technology: Artificial Intelligence, Application Programming Interface (API), Robotic Process Automation, Data Analytics, Others; By Application; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
United Kingdom Fintech Market
The United Kingdom fintech market size reached USD 10.32 billion in 2023. The market is expected to grow at a CAGR of 7.05% between 2024 and 2032, reaching USD 17.81 billion by 2032.
Key Takeaways:
- The UK's FinTech sector, with 1,600+ firms, is set to double by 2030, as per the International Trade Administration.
- The FinTech industry adds $13.4 billion (£11 billion) and 76,000+ jobs to the UK, according to the International Trade Administration.
- In 2020, London drew $4.1 billion, 94% of the UK's FinTech venture capital, indicating its appeal to investors, states Deloitte.
Due to the deployment mode, the United Kingdom fintech market growth benefits from enhanced data control
This entails companies having full authority over their data, which is crucial for safeguarding sensitive financial information. On-site fintech solutions enhance data control, aiding in safeguarding sensitive financial information. They simplify adherence to regulations as data remains under the company's jurisdiction. Customization options are adaptable, and performance can be quicker with reduced latency. Some perceive them as more secure due to direct security oversight.
Cloud-based fintech solutions offer scalability, adjusting resources according to market needs. They are cost-effective, eliminating substantial hardware investments with pay-as-you-go models. Accessible globally, they support remote work. Cloud providers manage updates, alleviating the IT team's burden. Furthermore, they offer robust disaster recovery through data redundancy and backups.
In August 2023, the UK introduced a £1 billion Fintech Growth Fund to enhance its global FinTech investment standing. Supported by industry giants like Mastercard and Barclays, the fund aims to assist growth-stage FinTech companies, addressing concerns about UK FinTech obstacles and promoting local listings.
Market Segmentation
United Kingdom Fintech Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment Mode
- On-Premises
- Cloud
Market Breakup by Technology
- Artificial Intelligence
- Application Programming Interface (API)
- Robotic Process Automation
- Data Analytics
- Others
Market Breakup by Application
- Payments and Fund Transfers
- Loans
- Insurance and Personal Finance
- Wealth Management
- Others
Market Breakup by Region
- England
- Wales
- Scotland
- Northern Ireland
The United Kingdom fintech market key players are Revolut Ltd., Monzo Bank Limited, Wise Plc, Paymentsense Limited, Starling Bank Limited, JPMorgan Chase & Co. (Nutmeg), Soldo Software Ltd., Digital Moneybox Limited, OakNorth Bank Plc, and SumUp Payments Limited among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Deployment Mode |
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| Breakup by Technology |
|
| Breakup by Application |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Europe Fintech Market Overview
8.1 Key Industry Highlights
8.2 Europe Fintech Historical Market (2018-2023)
8.3 Europe Fintech Market Forecast (2024-2032)
9 United Kingdom Fintech Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Fintech Historical Market (2018-2023)
9.3 United Kingdom Fintech Market Forecast (2024-2032)
10 United Kingdom Fintech Market by Deployment Mode
10.1 On-Premises
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Cloud
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 United Kingdom Fintech Market by Technology
11.1 Artificial Intelligence
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Application Programming Interface (API)
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Robotic Process Automation
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Data Analytics
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 United Kingdom Fintech Market by Application
12.1 Payments and Fund Transfer
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Loans
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Insurance and Personal Finance
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Wealth Management
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 United Kingdom Fintech Market by Region
13.1 England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Wales
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Scotland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Northern Ireland
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Revolut Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Monzo Bank Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Wise Plc
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Paymentsense Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Starling Bank Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 JPMorgan Chase & Co. (Nutmeg)
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Soldo Software Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Digital Moneybox Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 OakNorth Bank Plc
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 SumUp Payments Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Europe Fintech Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Fintech Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Fintech Historical Market: Breakup by Deployment Mode (USD Billion), 2018-2023
4. United Kingdom Fintech Market Forecast: Breakup by Deployment Mode (USD Billion), 2024-2032
5. United Kingdom Fintech Historical Market: Breakup by Technology (USD Billion), 2018-2023
6. United Kingdom Fintech Market Forecast: Breakup by Technology (USD Billion), 2024-2032
7. United Kingdom Fintech Historical Market: Breakup by Application (USD Billion), 2018-2023
8. United Kingdom Fintech Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. United Kingdom Fintech Historical Market: Breakup by Region (USD Billion), 2018-2023
10. United Kingdom Fintech Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. United Kingdom Fintech Market Structure
Key Questions Answered in the Report
The market was valued at USD 10.32 billion in 2023.
The market is projected to grow at a CAGR of 7.05% between 2024 and 2032.
The revenue generated from the fintech market is expected to reach USD 17.81 billion in 2032.
The fintech market is categorised according to the deployment mode, which includes on-premises and cloud.
The fintech market key players are Exxon Mobil Corporation, Shell Plc, Chevron Corp., BP Plc, TotalEnergies SE, Eni S.p.A and Valero Energy Corporation among others.
Based on the application, the market is divided into payments and fund transfers, loans, insurance and personal finance, wealth management and others.
The market is broken down into England, Wales, Scotland, and Northern Ireland.
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