The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Up 500% in Three Years, Fintech Investments Soar in the UK, Target Banking Shakeup

by Daily Hodl Staff
June 1, 2020
in Futuremash
[the_ad id="93550"]

The UK is outpacing all of Europe and the US in terms of dollars spent on fintech investments, with $48 billion pouring into UK fintechs in 2019. As consumers shift to mobile apps offering seamless financial services and payment solutions, fintechs are aggressively challenging traditional banks, offering the same services, competing for market share and precipitating a huge spike in funding.

Fintech investment is up 500% over the last three years in the UK, compared to an increase of 170% in the US and 133% in Europe, according to global recruiting firm Robert Walters.

Dan Simmonite, business director at Robert Walters, says the lines have blurred between products and services from legacy institutions versus new tech.

“Fintechs were not initially seen as direct ‘competition’ to traditional banks – with their products and services differing vastly. However, over the past 12-18 months we’ve seen fintechs apply for banking licenses so they can expand their offering to include overdrafts, guarantee deposits, and offer the ability to set-up direct debits.

Whilst fintechs creep into traditional banking territory, and financial services continue to embed technology into their processes, the sectors stand to become indistinguishable in the next year.”

The global pandemic is accelerating the use of digital applications and diversifying offerings from online platforms. The transformation will bring long-term changes to business procedures in the UK, according to the London-based firm.

“Lockdown and social distancing measures mean that banks have had no choice but to scale back their retail operations, instead pushing customers towards digital platforms.

The UK has one of the highest adoption rates of digital and online banking – growing by 32% in the last 10 years. Adoption rates of online banking in the UK were at an all-time high of 73% in 2019, with the majority of users accessing platforms via smart phones (64%) rather than over tablets (34%). The adoption rate is predicted to be significantly higher in 2020.”

Analysts at Robert Walters report that lending is the key service that will allow fintechs to demonstrate their value and overall promise as the face of modern banking.

“In addition, as normal restrictions on lending are waived to enable companies to ride out the crisis, artificial intelligence (AI) will play a key part in enabling the financial services sector to provide simultaneous support to thousands of businesses – at a rate far greater than the capacity of their current underwriting team. As a result, AI-driven fintech lenders will be the biggest ‘winners.’

[the_ad id="95413"]

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
 

Featured Image: Shutterstock/alice-photo

Submit a Press Release

Industry Announcements

  • Huobi Set To Launch Trading Service in Hong Kong
    May 26, 2023
  • Stably Launches #USD As the First BRC20 Stablecoin on the Bitcoin Network
    May 25, 2023
  • The Open Network (TON) Unveils DeFi and Data Analytics Hackathon in Collaboration With DWF Labs and Amazon Web Services
    May 25, 2023
  • Ankr Partners With Mirage To Revolutionize the Web 3.0 Gaming Landscape
    May 25, 2023
  • Tulipart.com Launches a Collection of Tulip NFTs Minted Daily Over Seven Years
    May 24, 2023
  • Binance Futures Grand Tournament Returns
    May 24, 2023
  • TRON Collaborates With Nansen To Deliver In-Depth Insights From Blockchain Activity
    May 23, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,823.45
$27,823.45
2.27%
Ethereum
$1,895.33
$1,895.33
2.98%
Cardano
$0.377825
$0.377825
0.5%
XRP
$0.481357
$0.481357
1.77%
Dogecoin
$0.073356
$0.073356
1.32%

Spotlight

  • Gaming Represents the ‘Largest Scale Opportunity’ for Crypto, Says Polygon (MATIC) Co-Founder
    May 26, 2023
  • Crypto Project Defies Bitcoin Slump, Surges 125% This Week Amid New App Launch
    May 26, 2023
  • Analyst Who Called 2022 Crypto Bottom Says Current Bitcoin Price Action Has Him Excited – Here’s Why
    May 26, 2023
  • Cardano Creator Charles Hoskinson Says CBDC Fears Are Justified, Warns They Could Be Seized by the Government
    May 26, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl