Monzo and Starling pull back hiring as payments firms bite
Key Points
- UK fintech vacancies forecast to rise close to 14% in 2026 after 28% growth in 2025
- Monzo and Starling projected to cut hiring while Radius (+42.3%), SumUp Payments (+27.8%) and Kraken operator Payward (+91%) scale up
- London expected to account for 71% of all UK fintech hiring
- IT infrastructure vacancies forecast to climb close to 31% as IT support roles drop from 17% to 9% of fintech IT hiring over two years
- Anti-money laundering hiring up 28% and Credit Analyst roles up close to 46% as regulators tighten focus on digital lending
Monzo and Starling are pulling back hiring in 2026 as payments infrastructure firms led by Radius and SumUp drive a forecast 14% rise in UK fintech vacancies.
The shift, set out in the latest Fintech UK Finance Labour Market Trends report from Morgan McKinley and Vacancysoft, marks a clear reordering of the sector after years in which consumer-facing neobanks dominated recruitment.
Payments processor Radius is on track to grow vacancies by 42.3% to 1,239 roles in 2026, ahead of Wise on 714 roles (up 14.6%), SumUp Payments on 639 (up 27.8%) and Ebury on 621 (up 32.1%).
Kraken operator Payward is projected to expand vacancies by close to 91% as crypto firms gear up for the Financial Conduct Authority’s incoming cryptoasset framework.
Monzo and Starling Bank, by comparison, are forecast to cut recruitment in 2026 after years of rapid expansion.
The broader picture is one of continued growth from an already strong base. UK fintech vacancies rose 28% in 2025 and are forecast to climb a further 14% in 2026, with Q1 hiring already tracking more than 13% above the equivalent quarter last year.
London vacancies were up 17% over the same period, and the capital is set to account for 71% of all fintech roles for the full year.
Engineering and infrastructure are doing most of the heavy lifting on the technology side, where vacancies are forecast to rise over 13%.
London is absorbing the bulk of that growth, with IT vacancies in the capital up 18% against under 1% elsewhere in Britain, as IT infrastructure roles climb close to 31% and IT development and engineering vacancies by nearly 19%.
IT support roles tell the opposite story, falling from 17% to 9% of fintech IT hiring over two years as automation, outsourcing and cloud platforms displace traditional help-desk work.
Compliance hiring is becoming more targeted rather than broad. Vacancies across Legal, Risk and Compliance are forecast to dip 4% in 2026 after rising close to 22% the previous year, with banking-focused recruitment expected to fall 8%.
Within that picture, anti-money laundering and risk roles are projected to grow 28% and Credit Analyst hiring to surge nearly 46%, reflecting tighter regulatory scrutiny around digital lending, payments and stablecoins.
“The UK fintech sector is entering a more disciplined and structurally selective phase of growth,” said Mark Astbury, Director of Project and Change Recruitment at Morgan McKinley.
“Payment infrastructure providers and SME-focused platforms are now outpacing consumer neobanks, many of which are beginning to moderate hiring after years of rapid expansion,” he said.
