With Fintech Fortnight upon us today (5 Feb), we celebrate all things digital, financial and tech-y across the UK. The event lasts through 18 February and seeks to examine the industry – its challenges, opportunities and what’s to come in the future.
There are currently over 60,000 people working within the fintech sector across the UK, which is now worth a total of £7 billion. As the industry only grows in popularity, and competition, there’s no better time to look at some of the best names in the industry.
Here are 5 of the top players within the field today:
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The aim of the company is to improve financial literacy, particularly among millenials.
Fidor Bank is one of Europe’s original challenger banks. Though many have entered the market since Fidor launched in 2009, what sets Fidor apart is its community approach to banking.
Fidor’s online community continues to revolutionise the way people bank, not only because all transactions can be completed within 60 seconds or because people have a space to provide and ask for financial advice, but also because it gives customers a say in how their bank is run and provides a marketplace to a large selection of financial services and products.
Nutmeg is the fintech for those who want more from their financial services. At its simplest, Nutmeg is an investment portfolio company that helps people make smarter decisions about what and where they’re investing, and monitors how these investments mature over time.
Founded by former stockbrokers without the price tags that come with The City, Tandem also offers a feature to help plan and save for down the road, and offers customised options depending on what you’re looking to get out of your bank.
Cleo’s claim to fame is that it integrates seamlessly within Facebook Messenger. Acting as a virtual assistant and financial guru, Cleo can instantly answer questions about your bank accounts, spending habits, and existing balances.
Cleo’s ambition spans by integrating all cards, accounts and financial services into one central AI-hub from which it can make the most educated recommendations when you need help most.
Tandem brings to the table the ability to pre-empt your monthly financial woes. With the capacity to build out your existing expenses and bills, Tandem can budget for you such as telling you if you’re spending more than usual on bills, and also suggest ways to cut costs.
Tandem also offers a feature to help plan and save for down the road, and offers customised options depending on what you’re looking to get out of your bank.
With all the fintechs out there today, this is just a small snapshot of some of the great and innovative work going on within the industry. With that said, these companies are leading the way in their respective financial areas, and would be a great addition to anyone’s life who may be looking to improve, streamline or optimise their financial situation.