UK leads the way for Fintech

UK leads the way for Fintech

The UK is leading the way for fintech in Europe after 13 of the country’s most innovative start-ups were named in the Fintech100 report compiled by KPMG.

The UK has more companies named in the latest Fintech100 report than any other nation in Europe, falling second only to the USA.

County Durham-based Atom Bank made it into the top 10 finishing in sixth place. The other UK companies to make the list were Funding Circle, iZettle, Circle, AQ Metrics, Azimo, Black Swan Technologies, Credit Kudos, Doreming, Hello Soda, Iwoca, OSeven and Ravelin.

Katy Ringsdore, head of PR and Communications at Atom Bank, said: "It’s clear that we are in good company.  The growth in Fintech reflects the changing needs and wants of customers all around the world.  Atom is proud to be at the forefront of this transformation."

Atom Bank's CEO, Mark Mullen, said: “We are thrilled to be included in the Fintech 100 list once again, the only UK company in the top 10.  A lot of hard work, a clear vision and a fabulous team of partners and employees has gone into this exciting journey that we are on. This year has been a tremendous milestone for us as we opened our doors to consumers.  

"Atom shows that  banking doesn’t have to be boring, nor is there a way that ‘banks have to do things’, our journey starts and ends with giving people a better way to bank and that is what makes Atom the bank of today, tomorrow and the future. Technology is exciting and there is no reason why banking shouldn’t embrace technology, deliver a great customer journey and market leading products.”

Ian Pollari, global co-lead of KPMG’s Fintech practice, said: “One of the striking features of this year’s list is the growing success of fintech disruptors, with more than 90% of the top 50 ventures challenging incumbents or traditional business models.

“The Fintech 100 companies are increasingly attracting a greater share of capital as well, raising more than 65% of total global fintech investment over the past year.

“The report also highlights a growing and increasingly diverse fintech sector, with the creation of value in new sub-sectors such as regtech and data & analytics, and the continued growth in insurtech and blockchain.”

China is continuing to grow its presence in the fintech sector with eight companies in the list, half of which are in the top 10 established innovators.

Insuretech also continues its ascent, with 12 companies, almost double last year’s number.

The overall top 10 companies in the Fintech100 2016:

  1. Ant Financial - China
  2. Qudian (Qufenqi) - China
  3. Oscar - USA
  4. Lufax - China
  5. ZhongAn - China
  6. Atom Bank - UK
  7. Kreditech - Germany
  8. Avant - USA
  9. Sofi - USA
  10. JD Finance - China

The full Fintech100 2016 can be viewed at http://www.fintechinnovators.com/