U.K. fintech used to be a side hustle for bored finance executives in the wake of the Global Financial Crisis. Now it’s an industry with the potential to rival the country's big banks

(Credit: HENRY NICHOLLS - AFP - Getty Images)

What is the quintessentially British business? Cadbury’s? Aston Martin? Or is it Monzo? While the neobank might not yet be a global household name, the British fintech scene is undeniably a success story. Widely recognized as the most valuable segment of the British tech industry, fintech grew out of bedrooms and into boardrooms at an unprecedented pace in the years since the Global Financial Crisis. 

While Britain’s largest banks still dominate the financial landscape of the country, outstripping fintech challengers in terms of assets and customer base, U.K. banks have nonetheless shown signs of contraction since the financial crash.