Highlights

• The Confederation of British Industry (CBI) has launched the Winning with Fintech campaign to get more businesses to use fintech for their growth.
• Data from Innovate Finance shows investment in the UK’s fintech industry rose by 217% in 2021 to around £9 billion as compared to 2020. 

The Confederation of British Industry (CBI) on Monday launched the ‘Winning with Fintech’ campaign to encourage more businesses to use fintech for their overall growth in a bid to make global trade smoother, sustainable, and cost-effective, and ensure the payment system is flawless with lesser risks.

The objective of the campaign is to support non-financial companies in different sectors to embrace fintech in a bid to encourage innovation, improve efficiency and competitiveness, as well as to boost productivity amid various global challenges, such as slowdown, soaring cost-of-living crisis, supply shortages, rising energy, and fuel prices and geopolitical tension between Russia and Ukraine.

Data from Innovate Finance shows investment in the UK’s fintech industry rose by 217% in 2021 to around £9 billion from a year earlier. The country’s fintech ecosystem has surpassed a US$1 trillion valuation to become the third-largest in the world with highly valued tech businesses, such as Wise, Revolut, Markit, Checkout.com, Rapyd, eToro, Ocado, ARM, FNZ, Admiral, and Deliveroo.

Let us look at 4 FTSE-listed fintech stocks that may get impacted by the development. 

1. Wise Plc (LON: WISE)

Wise Plc is a UK-based financial technology company that is engaged in developing infrastructure with local payment systems, focusing on the payment technology and regulatory and compliance coverage over application programming interface (API), and customer support and operations.

With a market cap of £4,348.36 million, Wise Plc’s shares were trading at GBX 403.60, down by 4.90% at 11:35 AM (GMT), as of 25 April 2022. The Main Market listed company’s share value depreciated by -46.66% since the start of this year, as of 25 April 2022.

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Ocado Plc (LON: OCDO)

UK-based online grocery retailer Ocado Plc is engaged in the development of the end-to-end operating solution using its technology for an online grocery retailer. Recently, the company reported that Ocado Retail Ltd, a joint venture between Ocado Group Plc and Marks & Spencer Group Plc announced growth in consumers number by 31% year on year. However, its retail revenue decreased by 5.7% to £564.7 million in Q1 2022, from £599.1 million in Q1 2021.

With a market cap of £7,832.95 million, Ocado Plc’s shares were trading at GBX 1,010.50, down by 3.02% at 11:35 AM (GMT), as of 25 April 2022. The FTSE 100 listed company’s share value depreciated by -54.83% over the last one year as of 25 April 2022, while its year-to-date return stands at -39.81%.

TruFin Plc (LON: TRU)

TruFin is a UK-based banking and fintech services company engaged in offering early payment services, provision of niche lending, and mobile game publishing.

With a market cap of £77.70 million, TruFin Plc’s shares were trading at GBX 82.50, at 11:35 AM (GMT), as of 25 April 2022. The FTSE AIM All-Share listed company’s share value appreciated by 0.55% over the last one year as of 25 April 2022, while its year-to-date return stands at 0.42%.

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CPP Group Plc (LON: CPP)

CPP Group Plc is a global product and services company that specializes in the financial services and insurance markets. With a market cap of £21.23 million, CPP Group Plc’s shares were trading at GBX 234.00, down by 2.50%, at 11:35 AM (GMT), as of 25 April 2022. The FTSE AIM All-Share listed company’s share value depreciated by -57.24% over the last one year as of 25 April 2022, while its year-to-date return stands at -31.06%.

Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.