New national network launched to connect UK fintechs
The organisations hope to encourage the formation of fintech hubs and centres of excellence, as well as helping innovators to connect with each other.
Aims of the network include focusing on skills and talent, capital and investment, diversity and inclusion, and promoting UK fintechs to both the national and international markets.
Chris Sier, chairman of FinTech North and HM Treasury fintech envoy, says: “As the fintech sector continues to develop at pace outside of London, it is really encouraging to see Innovate Finance taking more proactive steps to engage on a truly national basis.”
He adds: “London’s role in the global fintech economy is a significant one, but I strongly feel the regional cities of the UK have much to offer on a national and international basis, even more so if they can collaborate with each other via initiatives like the FinTech National Network.”
The UK is third only to China and the US in terms of fintech investment and has seen significant increases in recent years. In 2018, the UK achieved its best year with $3.3 billion, split roughly 50/50 between growth PE investment and VC investment – 18% higher than in 2017.