Morgan McKinley report shows financial services advertised positions climbed 13 per cent year-on-year
Monzo is among firms that have been recruiting over the past year(Image: PA)
Financial technology companies have spurred a substantial rise in recruitment within the financial sector over the past year, according to fresh analysis from City headhunter Morgan McKinley.
Throughout the financial services industry, advertised positions climbed 13 per cent year-on-year, despite persistent inflationary challenges and ongoing economic uncertainty.
Fintech recruitment jumped 29 per cent during the period, with notably strong demand for software engineering and product management positions, as reported by City AM.
Companies including Radius, Ebury Partners, and Monzo significantly expanded their recruitment efforts, with vacancies increasing between 50-90 per cent annually. More established operators such as Sage and Revolut also grew their workforce, albeit at a more modest rate.
“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.
Whilst fintech represented the most vibrant segment of the recruitment landscape, traditional banking still comprised 61 per cent of all financial vacancies in 2025, the analysis revealed.
Fresh recruitment in banking focused on technology-oriented positions such as IT management and banking operations – which expanded 42 per cent and 30 per cent respectively.
Commercial banking, however, contracted 10 per cent in 2025, which Morgan McKinley described as evidence of “ongoing cost control in client-facing areas”. London has strengthened its status as the UK’s leading financial centre, recording a 17 per cent rise in job openings over the year.
This pushed its proportion of national finance vacancies to 53 per cent.
Victoria Walmsley, managing director at Morgan McKinley, noted that the employment market has moved into a more “selective and disciplined phase” following several years of post-pandemic disruption.
“While hiring is no longer volume-driven, organisations are investing with greater precision in roles that support productivity, transformation and long-term competitiveness,” she said.
“This shift reflects structural change rather than short-term volatility, with employers positioning now for the next growth cycle.”