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16 hot UK fintech startups that could one day be worth $1 billion

Oscar Williams-GrutJun 8, 2016, 11:30 IST

Credit Benchmark cofounders Donal Smith, left, and Mark Faulkner.Credit Benchmark

Financial technology - also known as fintech - is one of the hottest areas of investment at the moment and one of the scariest developments for banks.

Many lenders are losing business to more innovative and customer-focused startups offering cheaper, quicker, online services.

London is leading the way in Europe, with two fintech startups there already reaching "unicorn" status - the coveted $1 billion (£650 million) valuation. They are international money transfer business TransferWise and peer-to-peer business lending firm Funding Circle.

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Here are the other fintech startups based in the UK that we think are most likely to join the club - ranked by what BI think their odds are.