UK’s Newest Banking Startups Revolutionising the Indigenous Financial Sector

January 19, 2024


As part of our series highlighting the latest and most innovative startups in the UK, we are shining a spotlight on the banking industry. Since 2020, several new companies have emerged, introducing a host of innovative technologies and services to upend traditional banking. These companies cater to a diverse range of consumer needs, from savings and investments to lending and payments. Here, we will take a closer look at ten of these startups, each with its unique approach to banking and financial services.

These startups leverage technology to deliver contemporary banking solutions. They cater to a wide variety of consumer needs, making use of advancements in fintech, mobile payments, cloud computing, and artificial intelligence among others. They are not only redefining banking but also addressing important issues such as sustainability and the circular economy. Without further ado, let us delve into these energetic companies that are carving a niche for themselves in the world of banking.

From London to Manchester, we are seeing forward-thinking entrepreneurs driving engrossing initiatives that are transforming the British banking landscape. Get ready to meet a few of these UK-based startups breathing new life into the banking sector.


Based in London, TreeCard is a fullstack green finance platform focusing on banking, sustainability, and responsible finance. Founded by Gary Wu, James Cox, James Dugan, and Jamie Cox, the company has introduced a wooden payment card that funds reforestation via interchange fees generated. This startups’ collaboration with Ecosia stands as its significant innovation.


Also based in London, Lanistar founded by Gurhan Kiziloz, is planning to provide a customer-centric alternative to personal finance offerings provided by incumbents in the sector. With a goal to grow their support team in Greece, Lanistar recently announced key partnerships with Mastercard and Jumio among others.

Bloom Group SA

Bloom Group SA, founded by James Hickson, helps digital brands unlock their potential with founder-friendly capital and tools that accelerate growth. The startup also allows consumers to flourish under progressive banking systems.


Uniquely located in Manchester, Algbra is a next-gen values-focused fintech founded by Fizel Nejabat and Zeiad Idris. Its innovative fintech solutions echo through its mobile payments, reflecting the future of banking.


In London, Mast founded by Henry Stanley, Joy Joseph Abisaab, and Robert Stronach is building cloud-native technology to help mortgage lenders underwrite more applications while saving costs and delivering new levels of service. Their innovation is embodied in their cloud computing application in banking.


A UK-based digital banking startup, Saurus is reinventing digital and commercial banking through simplicity and accessibility, offering tailored banking solutions for the modern consumer.


Founded by Geri Cupi, Twig is a fintech company based in London operating in the circular economy. It turns items into cash instantly and promotes a carbon-offset lifestyle while powering banking through mobile apps.


Scribe was founded by Nick Errington and Rob Cossins to create a data platform for company information, removing the hassle of data entry from PDFs and providing deep insights about private companies.


Developed by Alastair Sharpe and Katee Hunter, Inveztor™ provides a simple, efficient and collaborative digital platform for the issue and maintenance of European debt securities. This UK-based platform transforms DCM infrastructure, enabling issuers to create and manage securities openly and in real-time.

Network B

Founded by Brad Blake and Shapna Majid, Network B is another London-based startup that offers banking solutions through an open API platform. Their service suite includes banking, card-linked solutions and more, addressing customer inquiries through a combination of digital and traditional communication channels.

This group of banking startups are shaping the future of financial services in the UK through their innovative approaches and forward-thinking technologies. Today, banking is not merely a matter of saving and lending – it is about offering services that enhance our lives, support our businesses, and protect our environment. With companies like these, the future of banking has never looked brighter.

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