A new report estimates that around 22% of fintech jobs in the UK are under immediate or moderate risk; however this is much smaller than the 61% of jobs at risk when you include the entire Beauhurst database of the UK’s most ambitious startups; according to the data, only 3% of UK fintechs are in the high risk category with the current pandemic, compared to 17% of all startups being high risk; the reason for this is many of these startups provide the infrastructure to other financial services companies; the B2B business models tend to fare better than those in the B2C space; fintech startups also tend to provide their services remotely; Ed Lascelles, fintech partner at Albion VC stated, “Aside from some of the lenders… I’d expect the sector as a whole to be much more resilient than the wider economy. The benefits of agile, cloud-native services have never been clearer…We are already hearing of transformational projects being prioritised throughout the whole sector, and so long as we avoid a financial crisis we expect this momentum to increase.” Sifted
