Report highlights which freelance roles and specialist areas are in highest demand
The fintech sector in London is experiencing a surge in demand for freelance talent, with vacancies skyrocketing 61.2% year-on-year. This growth is attributed to increased investment in the technology industry and the ongoing digital transformation of financial services.
According to the latest UK Finance Labour Market Trends report by Morgan McKinley and Vacancysoft, London is the epicentre of this boom, accounting for over 67% of all IT vacancies in the fintech sector. The demand is highest for tech-savvy professionals with expertise in AI, machine learning, and data analytics.
“The demand for tech-savvy professionals in the fintech industry has significantly increased, reflecting the sector’s ongoing digital transformation,” said Victoria Walmsley, Managing Director of Morgan McKinley. “Companies are particularly keen on recruiting individuals with expertise in AI, machine learning, and data analytics to harness the power of big data for enhanced decision-making and customer service.”
The report also highlights a significant increase in risk and compliance vacancies in London, up 86.5% year-on-year. This reflects the growing importance of regulatory compliance in the fintech sector.
While some established fintech companies like Revolut and Wise have seen declines in vacancies due to regulatory challenges, others like Checkout.com are expanding rapidly, increasing vacancies by 282% in 2024. FIS currently leads with a 62% increase in vacancies, but this may change following the recent sale of Worldpay.
Keep an eye on fintech M&A for freelance job opportunities
Overall, the outlook for fintech freelancers in London is highly positive. With vacancies surging and demand for specialised skills on the rise, now is a prime time for freelancers to keep informed about these sectors to capitalise on job opportunities.
We could see more freelance hires emerge from the rise in consolidation in the fintech sector. Just this week it was reported that Société Générale has announced plans to sell French fintech startup Shine to Ageras, four years after acquiring it. The 2020 acquisition garnered significant attention as it was a rare move into the tech startup space for the banking giant. While not a massive deal, TechCrunch reported the purchase price to be around €100 million.