By Daniel Hunter
The number of new financial services start-ups jumped by 28% in 2014, according to short-term management firm, Interim Partners.
Figures show that the Financial Conduct Authority (FCA), which regulates the financial services industry, authorised 1,352 start-ups last year, up from 1,055 in 2013.
Challenger banks, consumer credit firms, crowd funding firms and Fintech businesses were the most frequent type of start-up launched in the financial services industry in 2014.
Interim Partners said that the boom in the number of consumer credit and Fintech start-ups led to a sharp increase in demand for compliance and risk specialists.
Regulatory planning experts are also in high demand amongst Challenger banks, which are in the pre-license phase.
Angela Hickmore, partner at Interim Partners, said the demand for talent "continues to grow as more and more financial services businesses gain authorisation from the FCA."