Fintech Reviews – Uber

Uber is a transportation company that connects users with freelance drivers as an alternative to traditional taxi companies. They were founded in 2009 and currently operate in 570 cities worldwide.

Companies like Uber are changing the shape of the world in innovative ways. Like many other Fintech companies, they are making a huge success of an idea that, if you had talked about it with friends 10 years ago, no one would have taken seriously. Fintech Reviews reports on Uber’s methods and checks out a little of the dark side of the company.

How does it work?

Fintech ReviewsUsers create an Uber account and can order a driver to their location. No phone calls are necessary and they are given the ability to track their ride’s progress. The trip is paid for through the app so no money changes hands. The service is available 24 hours a day, 7 days a week subject to the availability of drivers. Users can choose the level of comfort they want to travel in from everyday vehicles through to large vehicles, vans and luxury cars.

Uber recruits freelance drivers and pays them to pick up fares. Theoretically, anyone could be an Uber driver as long as they have a car and a clean record. Uber drivers set their own hours and work as much as they want to.

Not so uber-friendly

Like many new companies, Uber has been the subject of its fair share of controversies involving the public at large, the media and the law. Trustpilot shows just two stars for the transport company, with many reviews citing unnecessary charges, poor experiences with the app and lack of reliability.

The company culture is rumoured to be cut-throat with employees vying for advantage and being encouraged to win, rather than resolve, conflicts with their colleagues. This has worked for them so far but is it sustainable? Especially when you consider that Uber’s appearance on a CV is putting off other companies when it comes to hiring applicants. This may discourage high calibre candidates from seeking employment through Uber, potentially limiting its growth.

Fintech Reviews brings you the profiles of the world’s leading financial companies so you know who the players are.