How big is the UK FinTech Market?
The fintech market in the UK is large and growing. According to a report by the UK government, the fintech sector in the UK was valued at £7 billion in 2015 and had grown to £11.6 billion by 2017. The report also found that the sector employed over 61,000 people in the UK.
In recent years, the fintech sector in the UK has attracted significant investment and has become a major player in the global fintech market. The UK has a well-developed financial sector, a strong regulatory environment, and a thriving start-up ecosystem, which has all contributed to the growth of the fintech market.
There are many different types of fintech companies operating in the UK, including companies that provide online banking and payment services, insurance technology (insurtech), and lending platforms. The fintech sector in the UK is diverse and innovative, and it continues to evolve and grow.