Slow systems: Revenue continues to swell, but growth slows in the face of economic pressures
Financial Technology in the UK
The UK Financial Technology (FinTech) industry highly fragmented and is expanding rapidly. Over the past five years, areas such as peer-to-peer lending, money transfer and digital banks have performed well. Industry revenue is expected to grow at a compound annual rate of 6.7% over the five years through 2022-23 to reach £12.8 billion. The industry relies heavily on third-party financing. Despite volatile economic conditions over the past five years, both private and public funding have been strong.
The Financial Technology industry offers services that integrate finance with technology in order to provide new or improved services to businesses and consumers. Many of the services offered by the industry had previously been offered by traditional financial institutions such as banks.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.