UK fintech hiring set to rise 14% as payments and infrastructure lead shift away from neobanks

UK fintech hiring set to rise 14% as payments and infrastructure lead shift away from neobanks

UK fintech vacancies are forecast to increase by close to 14% in 2026, following growth of 28% the previous year, as hiring shifts decisively towards payments infrastructure, engineering and compliance rather than consumer neobanks according to the latest Fintech UK Finance Labour Market Trends report from Morgan McKinley and Vacancysoft.

London is expected to account for 71% of all fintech hiring, reinforcing the capital’s dominance in the sector.  Data from early May suggests the momentum is not merely seasonal –  Q1 hiring stood more than 13% above the same period in 2025, while vacancies in London in particular were 17% higher.

The report also suggests the sector is entering a more operationally-focused phase, with hiring increasingly concentrated in engineering, infrastructure, compliance and payments rather than broad-based expansion across consumer fintech.

Compliance Hiring Becomes More Selective

The compliance boom that followed the post-pandemic fintech expansion is beginning to mature. Legal, Risk & Compliance vacancies are forecast to dip by 4% in 2026 after rising by close to 22% in 2025, while banking-related hiring is expected to fall by 8%.

Demand is shifting towards AML risk and compliance vacancies, which are projected to rise by 28%, while Credit Analyst hiring is forecast to surge by nearly 46%. This reflects growing regulatory scrutiny around digital lending, payments and stablecoins.

Meanwhile, recruitment in financial crime and credit risk is expected to retreat sharply after the exceptional expansion recorded in 2025.

Infrastructure and Engineering Drives Growth

Technology remains fintech’s principal engine of recruitment growth. IT vacancies are forecast to rise over 13% in 2026 with London continuing to absorb the vast majority of this demand. Vacancies in the capital are expected to rise to 18%, compared with growth of under 1% elsewhere in Britain.

IT infrastructure roles, the fastest-growing major technology function, is expected to climb close to 31% whilst IT development and engineering vacancies are forecast to increase nearly 19%.

By contrast, IT support roles remain subdued, dropping from 17% to 9% in two years as automation, outsourced delivery and cloud-based systems steadily displace traditional support structures.

Payments Firms Pull Ahead of Neobanks

The report reveals a significant shift in where growth is concentrated across the sector. Payments infrastructure providers and SME-focused platforms are increasingly outperforming consumer neobanks, many of which are now moderating recruitment after years of aggressive expansion.

Radius is forecast to increase hiring by more than 42%, while SumUp Payments is projected to rise close to 28%. Crypto-linked firms are also expanding rapidly, with Payward, operator of Kraken, forecast to increase vacancies by nearly 91% as firms prepare for the FCA’s evolving cryptoasset framework. In contrast, Starling Bank and Monzo are both projected to reduce hiring activity in 2026.

Mark Astbury, director of project & change recruitment at Morgan McKinley said: “The UK fintech sector is entering a more disciplined and structurally selective phase of growth. This is not a slowdown in momentum, but a reorientation of where growth is occurring. Growth is increasingly concentrated in IT infrastructure and engineering roles, as firms prioritise resilience, scalability and cloud-native architecture over pure product expansion.

Most significantly, the centre of gravity within fintech is shifting. Payment infrastructure providers and SME-focused platforms are now outpacing consumer neobanks, many of which are beginning to moderate hiring after years of rapid expansion.”

Top Companies: All Professional Vacancies in Fintech in the UK, 2024-2026*

26/05/2026