UK fintech founders are leaning heavily on AI to find and recruit talent faster, according to a new report from industry strategy firm Ninety Two Ventures, but human judgment is still critical to bringing the right mix of people on board.

Based on surveys of early-stage founders by EY and Innovate Finance, the study, Founders Unfiltered 2, found that three-quarters (74%) of British fintechs use AI to identify and screen candidates, cutting down on the hours spent trawling through CVs, and freeing founders to focus on higher-value work.

With a third of founders now spending less than an hour a week on recruitment and people management, and around 15% dedicating more than twenty hours to business development and sales, the time saved on recruitment is being channelled into growth, with founders saying that AI hiring platforms allow them to “improve funnel speed at a fraction of recruiter costs”. 

“It’s positive to see that companies are leveraging AI thoughtfully to improve and accelerate current recruitment processes and help them build high-performing, diverse teams,” said Thomas Bull, EY UK head of fintech growth.

However, while AI is bringing much-needed efficiency to fintechs, founders stressed that an over-reliance on technology risks losing the human touch and culture that differentiates their organisation and tempts the best talent.

According to the study, 21% of new hires joined a firm because of its purpose, and 28% said that a founder’s vision was a key attractor, while 7% agreed that their company’s vision was a source of personal motivation. 

Likewise, the survey found that flexibility in a role (19%), a variety of career options (18%), and culture (15%) were the most important factors in attracting high‑calibre candidates, far ahead of salary (3%).  

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With more than half (53%) of fintech employees saying those qualities keep them in their role, early-stage founders need to balance automation, human judgment, and a healthy workplace culture with a commercial focus to attract and retain top talent.

“With a company’s purpose cited as a key factor in employment decisions, founders must work now to ensure their core values are coming across clearly and intentionally, to attract the people most suited for their organisation,” said Bull.

“The strongest founders will be those combining modern tech with human oversight and leadership.”