Morgan McKinley: Fintech Hiring Set to Increase

UK fintech vacancies could increase by nearly 14% in 2026 after growth of 28% in 2025. The shift in recruitment patterns reflects changes in where capital and talent are being deployed across the sector.

According to the latest Fintech UK Finance Labour Market Trends report from Morgan McKinley and Vacancysoft, hiring is moving towards payments infrastructure, engineering and compliance rather than consumer neobanks. Data from early May indicates the upward trend in recruitment extends beyond seasonal variations.

First quarter hiring showed a year-on-year increase of more than 13% compared to the same period in 2025. London continues as the primary location for the sector with vacancies in the capital forecast to rise by 17%.

The capital is expected to account for 71% of all fintech hiring according to the report. The data suggests fintech is moving towards an operationally focused phase with recruitment concentrated in payments, compliance, engineering and infrastructure rather than broad expansion in consumer fintech.

Operational priorities reshape recruitment

Mark Astbury, Director of Project & Change Recruitment at Morgan McKinley, says: "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."

According to Mark, the changes show how capital and human resources are being redeployed to support structural resilience across the financial technology ecosystem. Payment infrastructure providers and SME-focused platforms are outperforming consumer neobanks in recruitment activity.

Hiring at both Radius and SumUp Payments is projected to increase substantially with forecasts suggesting a rise of more than 42% for Radius and nearly 28% for SumUp Payments. Firms with crypto links such as Payward, which operates Kraken, are expanding with vacancies expected to surge by almost 91%.

The growth at Payward could indicate preparation for the Financial Conduct Authority's developing framework for cryptoassets. In contrast, both Monzo and Starling Bank are forecast to decrease their hiring activities in 2026.

Compliance hiring becomes selective

The post pandemic expansion in fintech led to a compliance boom with a near 22% increase in Legal, Risk & Compliance vacancies in 2025. This market is now showing signs of change with a forecast 4% dip in vacancies expected in 2026.

Banking related hiring is projected to decline by 8%. However regulatory scrutiny in digital lending, payments and stablecoins is boosting demand for specific roles.

Hiring for Credit Analysts is projected to jump by nearly 46% and AML risk and compliance vacancies are expected to grow by 28%. Recruitment in financial crime and credit risk is expected to retreat after the expansion recorded in 2025.

The selective nature of compliance hiring reflects where regulatory pressure is most acute. Organisations are focusing compliance resources on areas facing increased scrutiny rather than maintaining broad teams.

Technology roles drive growth

Technology remains the principal engine of recruitment growth. IT vacancies are projected to increase by more than 13% in 2026 with London accounting for the majority of demand.

A substantial 18% rise is anticipated in the capital contrasting with growth of under 1% across the rest of Britain. Growth is concentrated in certain technology functions.

IT infrastructure roles are forecast to see the highest growth climbing nearly 31% making them the fastest growing major technology area. IT development and engineering vacancies are expected to increase by almost 19%.

IT support roles show a subdued trend with expected growth dropping from 17% to 9% over two years. The change is attributed to displacement of traditional support structures by automation, outsourced delivery and cloud-based systems.