Posted on September 12, 2018 by staff

HUBX: FinTech list ‘cuts through noise’ in sector


Figuring out which technologies are going to be at the cutting edge of finance in the future is crucial in a rapidly growing sector, according to HUBX.

The AI-powered London-based company is behind the London Stock Exchange Group’s ELITE private placement platform, which connects high-growth companies with its global institutional investor network.

Co-founders Axel Coustere and Stephen Ong praised BusinessCloud’s list of ‘101 FinTech Disrupters’, published earlier this week, for keeping people in the loop about developments in the industry.

The list has also been receiving praise on social media for highlighting the top tech companies shaking up financial services across the country.

“There is a lot of noise in the FinTech industry; these lists help focus attention on companies which are successfully impacting the sector,” Coustere and Ong told BusinessCloud.

“It is also interesting for companies to see who is part of their ecosystem.”

The pair believe that the industry will continue to standardise and become better connected, becoming hungrier for simple technology to help them achieve better results.

“Blockchain solutions are being implemented by key players such as Microsoft and IBM but have yet to be applied on a large scale within global financial institutions,” they said.

“We believe that other technologies like AI on the other hand are maturing rapidly and already impacting the industry.

“In many ways, the industry still relies so much on legacy systems that achieving better connectivity and insights within large organisations already provides significant benefits.”

The arrival of innovative new technologies in finance is proving game-changing for customers, says RateSetter head of communications and policy John Battersby.

The P2P lending platform, also based in London, has topped £2.5 billion in loan originations and generated £100m in interest for investors without any losses to investors since it launched.

“Advances in technology are a game-changer and enable the delivery of new, innovative ideas and business models, like RateSetter, to transform financial services for the better,” he told BusinessCloud.

“Change is reaching all corners of financial services and RateSetter is leading the way in helping people earn more on their money by investing in the asset class of loans.

“What this means for customers is greater access, greater transparency, greater efficiency and greater value.”

Our list of companies shaking up the sector ranges from heavyweights to start-ups who are disrupting the industry through technology.

The industry’s top talent includes Aicura Solutions, a ‘Plug-in FinTech factory for banks’. Aicura offers banks a faster, cheaper way to quickly test ‍‍‍ideas and take them to market, focussing on the financial services sector and offering incumbents ‘prototyping as a service’.

AI chatbot Cleo is leapfrogging a generation – as many banks bid to get in on the app scene, Cleo helps users get help without one.

The digital financial assistant advises users on their spending and of deals in the marketplace while automatically placing money into a savings account based on what they can afford. Users can send money to their Facebook Messenger contacts via Cleo while it has backing from big-name investors including Zoopla founder Alex Chesterman.

Having recently received investment from Andy Murray, Landbay is proving that property is still thriving. The proptech firm has raised a total of £6.4m funding in six crowdfunding rounds on Seedrs and passed the £100m lending milestone. It seeks to optimise the opportunities presented by peer-to-peer lending.

From innovative companies that help more people access both investing and borrowing, to ones that track their finances and others that demystify the often opaque world of financial services, the final shortlist of 101 disrupters are the leading lights of the UK’s thriving FinTech scene.