Companies from the UK continue to dominate the latest FinTech50 list, published by FinTechCity this week, while German, Swiss and Irish FinTechs also performed strongly.

A panel of industry experts compiled the list – which includes 24 new businesses – from a pool of 1,500 companies across Europe. Highlighted trends included a rise in artificial intelligence firms, new partnerships between FinTechs and the number of mergers and acquisitions in the sector, as banks acquired market-leading challengers.

UK challenger banks Monzo and Atom were among the FinTechs to make the list, while other notable UK inclusions were DarkTrace, MarketInvoice, Onfida, Revolut and Suade.

Julie Lake, founding director of the FinTech50, commented: “FinTechs working with banks is a powerful trend, but there is also a new generation of innovators going direct to the consumer in areas such as insurance and financial management. Noticeably this year, we saw an emerging evangelism for challenger brands from a very important source: their customers. They may not have anywhere near the customer volume of traditional providers, but they are winning hearts and minds in a style more often associated with consumer goods.”

A separate Hot 10 2017 list was compiled by FinTechCity for “earlier stage, highly enterprising innovators that deserved a special mention”. This included UK firms ClearBank, Bud, Cleo, Datasine, Post Quantum and 10x Future Technologies.

The FinTech50 team also announced a strategic partnership with Zone Startups, a leading name in India’s FinTech ecosystem, to provide opportunities for European FinTechs to explore opportunities to expand into the Indian market ahead of the FinTech50 Asia launch later this year.

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