UK Fintech Software Market to Reach USD 2.76 Billion by 2033

Market Size in 2024: USD 1.68 Billion
Market Forecast in 2033: USD 2.76 Billion
Market Growth Rate (2025-2033): 5.70%

The UK fintech software market size reached USD 1.68 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.76 Billion by 2033, exhibiting a growth rate (CAGR) of 5.70% during 2025-2033.

UK Fintech Software Market Trends and Drivers:

The rapid digitization of financial services is transforming how consumers and businesses manage money in the UK. Banks and financial institutions are increasingly integrating fintech software solutions to enhance their customer experience, streamline operations, and stay competitive. The rise of digital-only challenger banks is also accelerating software innovation to support app-based banking, robo-advisory, and AI-driven financial planning.

Regulatory Support and Open Banking Initiatives

The UK remains at the forefront of fintech adoption thanks to progressive regulatory frameworks. The implementation of open banking is encouraging greater data transparency and collaboration between banks and third-party providers. These regulations are creating new opportunities for fintech software developers to build secure, user-centric applications that enable consumers to access a wide range of financial products from multiple providers through a single interface.

Integration of AI, Blockchain, and Cloud Technologies

Emerging technologies such as artificial intelligence (AI), machine learning (ML), blockchain, and cloud computing are fueling innovations in fintech software. AI is driving advancements in fraud detection, customer personalization, and credit scoring, while blockchain ensures secure, real-time transaction processing. Cloud-based platforms offer scalability and cost efficiency for both startups and established players, facilitating faster time-to-market.

Rise in Contactless Payments and Mobile Wallets

The widespread adoption of contactless payment systems and mobile wallets is supporting fintech software market growth. Consumer behavior is shifting away from traditional cash and card-based payments in favor of digital solutions that are faster and more convenient. This trend is especially prominent among millennials and Gen Z users who demand seamless user interfaces and instant access to financial services.

UK Fintech Software Market News

March 2024: GoCardless, a leading UK fintech specializing in direct debit and open banking payment infrastructure, acquired the payment services company Sentenial (Nuapay) from its parent EML Payments to enhance its offerings in subscription and recurring payments.

August 2024: The UK fintech ecosystem saw a surge in investment, with total fintech funding reaching $7.3 billion in the first half of 2024 nearly triple the amount from H1 2023. Highlights include a £3.1 billion buyout of IRIS Software Group, a $999 million VC round by Abound, and $621 million raised by Monzo.

Late 2024: UK fintech investment cooled, ending the year with £7.97 billion, down from £10.95 billion in 2023, marking the lowest level since 2020. Nonetheless, the UK continued to attract more fintech funding than all other EMEA countries combined.

August 2024: A new fintech entity, Fintilect, launched by merging ieDigital and ABAKA (and aligned with Connect FSS under Parabellum Investments), rolled out AI-driven banking personalization solutions for UK banks. Lindsay Soergel was appointed CEO.

January 2025: In a significant funding win, iplicit, a London-based cloud accounting software platform, secured €29.7 million from One Peak to accelerate product development and scale its presence in the UK mid-market.

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UK Fintech Software Market Segmentation

Component Insights:

• Hardware
• Software
• Services

Application Insights:

• Food Science
• Kitchen and Restaurant Tech
• Delivery
• Supply Chain
• Others

Industry Insights:

• Fish, Meat, and Seafood
• Fruits and Vegetables
• Grain and Oil
• Dairy Products
• Beverages
• Bakery and Confectionery
• Others

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key highlights of the Report:

• Market Performance
• Market Outlook
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.