Fintech Hiring Boom: Software Engineering Roles Drive 29% Recruitment Surge Across UK
Financial technology companies have ignited a substantial recruitment boom within the UK's financial sector over the past year, according to fresh analysis from leading City headhunter Morgan McKinley. The comprehensive report reveals a resilient jobs market navigating persistent inflationary pressures and broader economic uncertainty.
Financial Services Sector Shows Robust Growth
Throughout the entire financial services industry, advertised positions climbed by a significant 13 per cent year-on-year. This growth occurred against a challenging backdrop, demonstrating the sector's underlying strength and strategic hiring focus. The most dynamic segment within this landscape proved to be the fintech sector, where recruitment activity jumped by an impressive 29 per cent during the same period.
The surge in fintech hiring was notably driven by exceptionally strong demand for specialised technical roles. Software engineering and product management positions were particularly sought-after, reflecting the industry's continued digital transformation and innovation priorities.
Leading Firms Expand Recruitment Efforts
Several prominent fintech companies significantly expanded their talent acquisition efforts. Firms including Radius, Ebury Partners, and digital bank Monzo reported vacancies increasing between 50 and 90 per cent annually. More established operators in the space, such as Sage and Revolut, also grew their workforces, albeit at a more measured and modest rate of expansion.
Morgan McKinley's analysis suggests this hiring pattern indicates a maturing fintech ecosystem. "The broader pattern suggests a maturing ecosystem: fintech firms are evolving from disruption to infrastructure, building out operational capacity across payments, credit, compliance, and SME services," the recruiter noted in their report.
Traditional Banking Maintains Dominance with Tech Focus
Despite the fintech boom, traditional banking institutions still comprised a substantial 61 per cent of all financial services vacancies in 2025. Recruitment within this established sector displayed a clear strategic shift towards technology-oriented roles. Positions in IT management expanded by 42 per cent, while banking operations roles grew by 30 per cent.
In contrast, commercial banking recruitment contracted by 10 per cent in 2025. Morgan McKinley described this decline as evidence of "ongoing cost control in client-facing areas," suggesting a strategic reallocation of resources within traditional banks.
London Consolidates Its Financial Hub Status
The capital city has further strengthened its position as the UK's premier financial centre. London recorded a 17 per cent rise in job openings over the year, outpacing the national average. This growth pushed London's proportion of national finance vacancies to a commanding 53 per cent, reinforcing its central role in the country's financial employment landscape.
Market Enters a More Selective Phase
Victoria Walmsley, Managing Director at Morgan McKinley, provided expert commentary on the evolving market dynamics. She noted that the employment landscape has transitioned into a more "selective and disciplined phase" following several years of post-pandemic disruption and recalibration.
"While hiring is no longer volume-driven, organisations are investing with greater precision in roles that support productivity, transformation and long-term competitiveness," Walmsley explained. "This shift reflects structural change rather than short-term volatility, with employers positioning now for the next growth cycle."
The report ultimately paints a picture of a UK financial services jobs market that is both resilient and strategically focused. The remarkable fintech hiring surge, particularly for software talent, alongside a tech-centric evolution within traditional banking, points to an industry firmly committed to digital advancement and future-ready growth.
