Surge in Fintech Jobs in London: Report

In the UK, the Fintech industry “remains a hotbed” for innovation, driving employment needs – mostly in London.

According to a report distributed by Morgan McKinley, the “demand for tech-savvy professionals in the Fintech industry has significantly increased, reflecting the sector’s ongoing digital transformation.”

Morgan McKinley is a global talent firm with offices in ten different countries.

The report states that Fintech vacancies in London have rocketed by 61% year over year. The big area of need is Risk and Compliance,” which jumped by 87%.

“London dominates, with over 67% of technology vacancies based in the capital. This trend is increasing, reaching its highest share over five years. Development and Engineering leads with 497 vacancies, constituting 31% of the total marking a 57% increase from last year. In contrast, IT security recruitment has slowed, with only an 8% year-on-year increase.”

Risk Management is the fastest-growing position, with vacancies increasing by 135% compared to 2023, increasing its share from 7% in 2022 to 12% this year.

The report does note that prominent UK-based Fintechs Wise and Revolut show a year-over-year decline in. The authors state this is largely due to Revolut’s struggle to gain a UK banking license and Wise’s challenges with the regulatory environment in Europe, which have compelled the company to slow new business client onboarding.

At the same time, firms like saw job vacancies grow by 282% in 2024 – even while the company continued to report losses.

FIS is another firm that saw a significant increase in vacancies (62%) in 2024.

Victoria Walmsley, Managing Director of Morgan McKinley, says the demand is being driven by tech advances like AI as well as regulatory changes.

“The demand for tech-savvy professionals has increased, reflecting the sector’s digital transformation. Companies seek expertise in AI, machine learning, and data analytics, along with compliance and risk management.”

Digital banking and cybersecurity concerns are “key drivers” today, and blockchain, along with IoT, will help fuel growth going forward.

“The Fintech sector is poised for sustained growth, with opportunities for remote and internationally diverse talent. To stay ahead, talent teams must track trends and adapt recruitment strategies, emphasising agility and forward-thinking to meet the evolving needs of fintech firms.”

The UK government is aware of the strategic importance of supporting Fintech innovation as well as the need to attract talent to support the growth of the financial services sector. While Brexit threw a wrench in the works, visa programs have sought to streamline the recruitment process.

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