Having exited a successful 2024 at G2M Solutions, we have seen our customers benefit from a buoyant UK Banking Market, full of growth and innovation.   I took some time to reflect on that success this week.  Having worked in the UK banking market for close to 30 years, I’ve seen a lot of change. Technology spend and software providers attention was heavily focused on the investment banks like HSBC GBM, Barclays Capital, Deutsche, Commerzbank, Nomura, Credit Suisse, UBS and others.  A series of events stretching back to the 2008 crisis, regulatory driven clamp downs, Brexit, recent Liquidity challenges mean whilst many still stand they are no longer the darlings of the UK Banking market.

There is no doubt however that banking market is in growth mode but it is been driven by a new breed of UK based Neobanks and Fintechs. With over 65 new banking licences granted in the UK in the past 10 years. The 2024 results shared by the likes of Zopa, Monument Bank, Monzo, Starling and others in the UK show incredible growth.   This is driving the need for more automation as the bank’s look to achieve growth without constant headcount increase and control as the regulators look more closely at these businesses as their balance sheets grow and customer deposits increase. Whilst some of these new fintechs are technology biased and have a tendency to build in house platforms.  There is budget for providers who are able to match the pace of change and support the growth aspirations of the new neobanks and fintechs.  At G2M we have seen our customers benefit from these needs in the market and we have helped one of our Banking focused software providers grow top line revenue by 25% in 2024. A fantastic year by any standards.