Fintech founders are also keen to keep humans in the loop when recruiting.
Three-quarters of UK fintech founders are using AI to identify candidates and speed up recruitment, says a new survey.
But findings from the survey also show that human judgement remains critical to ensure founders are finding the right talent and mix of individuals to recruit.
The survey gauged the opinions of early-stage fintech founders, with 45 founders responding to the survey, within which the survey spoke to six founders in depth on an array of questions, on areas such as recruitment, culture and leadership.
These were founders from insurtech Loxa, data platform Hace, money management startup Munny, property tech firm Grand Bequest, financial planning AI assistant PlannerPal, and gifting platform GiftRound.
The survey found that founders were curious enough to dip their toes into using AI-powered assistants and talent-matching platforms but were not ready to commit.
Mark Whitcroft, CEO, co-founder, PlannerPal, said: “We’re trying AI-first hiring platforms, ike Cord and Jack & Jill, to improve funnel speed at a fraction of recruiter cost.”
Andy Lang, CEO, Munny, said: “I’m not from a technical background—an AI assistant helps describe the role we need.”
Katherine Gunderson, CEO and founder, Grand Bequest, said: “We’ve opened an Asana ‘R&D opportunities’ board to universities to surface candidates.”
Gunderson added: “Onboarding still takes 8–10 weeks. That’s too long. I want tools and mechanisms to operationalise faster.”
Other findings include that a company’s purpose is crucial in driving hiring and retention, with 21 per cent of new hires stating they joined a firm specifically for its purpose, while over half (53 per cent) said they would stay because of it.
The report was compiled by Ninety Two Ventures, the advisory firm, media consultant Sam Shaw, accountancy firm EY and fintech trade body Innovate Finance.
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