As the world has been adopting digital operations in recent years, it is no wonder that the tech industry is most appealing to investors, particularly fintech. 

Unpacking the fintech hype

It is a known fact that technology rules this generation. The digital age has seen technological advances being introduced in all spheres of life, including the financial sector. Finances have always been a very sensitive matter as people are generally quite cautious about how, where and with whom they conduct financial transactions. Modern fintech has assured the masses of the safety measures that are implemented to prevent fraud, theft and the mishandling of one’s funds, however, such incidences do still happen occasionally but not often enough to deter people from seeing the merit of using technological solutions in finance. Therefore, it can be said that the fintech hype is mostly driven by the need for convenience, ease of access to funds and immediate transactions.

In the UK specifically, fintech companies are said to be growing by the day, which is why smart investments in UK fintech shares may prove to be quite lucrative in the long run. Industry insiders expect the interest in fintech to continue in the coming years, meaning that investors have a chance to really enjoy the benefits of diversifying their portfolios and pursuing fintech companies – startups or established ones.

UK fintech companies to look out for in 2021

As already alluded to, the convenience that is offered by fintech companies has made them the go-to option for banking from home and other financial transactions. This became especially important in 2020, when physical contact and mass gatherings were frowned upon due to global conditions. For those considering investing in a UK fintech company in 2021, below are just some of the ones that are reportedly performing quite well this year, in no particular order.

Revolut

Founded in 2015 and said to currently employ 1 000 to 2 000 individuals, Revolut offers a wide selection of digital banking services, which can be accessed via an app. Revolut’s services include international money transfers in 29 different currencies. Users have the option to make use of a free UK current account as the standard alternative and a free Euro IBAN account in general.

TransferWise

Noted as one of the more established fintech companies with proven staying power, TransferWise offers online money transfer services. Perhaps one of its unique selling points, particularly compared to conventional banks, is that it facilitates money transfers at a rate that is up to eight times cheaper than a bank. Industry insiders have described the TransferWise process as simple and hassle-free.

Soldo

Founded in 2014 and having managed to raise an estimated £61 million, Soldo reportedly employs approximately 100 to 500 people and through technology, assists clients with better managing their money. Soldo is specifically targeted at companies and businesses, using integrated systems to facilitate a more seamless and efficient way of monitoring business spending. The company was founded by veterans and tech gurus who were able to immediately identify and fill the gaps that existed in the sector, leading to the establishment of Soldo.

MoneyBox

Boasting approximately six years of operating, MoneyBox is geared towards investing and savings. Through the mobile app, MoneyBox provides the necessary tools and guidance to help people take the right steps towards achieving their financial goals.

Related Articles

Top 3 trending investment niches to notice by the end of 2021