The fintech landscape in 2026

Fintech (financial technology) is a broad category covering: payments (Stripe, Adyen, PayPal, Revolut, Wise), lending (Funding Circle, OakNorth, Zopa, Klarna for BNPL), wealth management and investment (Moneybox, Nutmeg, Trading 212), insurance technology (Lemonade, Marshmallow, By Miles), banking-as-a-service (Bankable, Railsr, Synapse), and embedded finance (financial services built into non-financial products). The sector has matured significantly since the 2010s growth period: the 2022-23 funding crunch forced many fintechs to focus on profitability over growth, and in 2026 the most successful fintechs are those that have navigated both the capital environment and increasing regulatory scrutiny. Understanding the specific segment and business model of the fintech you are interviewing with is essential preparation.

Regulatory and compliance questions

"What regulations affect fintech companies operating in the UK?" Key regulatory landscape: FCA (Financial Conduct Authority) authorisation is required for most financial services activities (payment services, consumer credit, investment management). PSD2/Open Banking: mandated APIs allowing third parties to access customer account data with consent — created the foundation for open banking products. GDPR and UK GDPR: data protection requirements are significant given the volume and sensitivity of financial data. AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements under the Money Laundering Regulations. Consumer Duty (FCA, 2023): requires financial service firms to deliver good outcomes for retail customers — one of the most significant recent regulatory changes. EMI (Electronic Money Institution) licensing for prepaid card and e-money products. Interviewers assess whether you understand that fintech is a regulated industry, not a tech-rules environment.

Business model and commercial questions

"How does [company] make money?" This question is asked at most fintech interviews and the answer varies significantly by business model. Interchange (Revolut, Monzo): earn a percentage of every card transaction from the merchant's bank. Subscription (Monzo Plus, Revolut Premium): monthly fee for premium features. Lending spread (OakNorth, Zopa): charge borrowers a higher interest rate than they pay to their funding sources. FX margin (Wise): earn the spread on currency exchange. BNPL fees (Klarna): charge merchants a fee per transaction in exchange for accepting instalments. Know the specific model of the company you are interviewing with and be ready to discuss its economics, risks (credit risk for lenders, regulatory risk for payment companies), and competitive sustainability.

Behavioral questions for fintech roles

"Tell me about a time you had to balance speed of delivery with regulatory or compliance requirements." Fintech culture values moving fast, but regulated financial services cannot move as fast as consumer tech. Show you understand both imperatives and can navigate the tension. "How do you think about trust in financial products?" Trust is the foundation of any financial product — customers are handing over their money and their financial data. Show you take it seriously: data security, transparent pricing, clear communication about fees and risks. Fintechs that have grown by obscuring fees or exploiting customer confusion are increasingly under regulatory pressure, and candidates who understand why responsible product design matters are valued.

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Frequently asked questions

Do you need a finance background to work in fintech?
It depends on the role. Engineering, design, and data roles in fintech typically value technical skills over financial knowledge — you can develop the domain expertise on the job. Commercial, product, and operations roles benefit significantly from understanding financial products, regulation, and how financial markets work. For senior roles, especially in risk, compliance, and product, financial services experience is generally expected. Many successful fintech professionals have traditional financial services backgrounds combined with product or technology skills.
What is the difference between a neobank and a traditional bank?
A neobank (or challenger bank) is a digital-first bank operating without a physical branch network. UK neobanks include Monzo, Starling, and Revolut. Traditional banks have physical branches, longer histories, broader product ranges, and are typically fully licensed deposit-taking institutions. Some neobanks are fully banking-licensed (Monzo and Starling have full UK banking licences); others operate as EMIs (Electronic Money Institutions) and cannot technically call themselves banks. The key differences are in cost structure (no branches = lower cost base), customer experience (mobile-first, feature-rich apps), and the range of products offered (neobanks have historically been stronger in current accounts than lending or mortgages).