About Innovate Finance

Innovate Finance is the independent industry body that represents and advances the global FinTech community in the UK. Our mission is to accelerate the UK’s leading role in the financial services sector by directly supporting the next generation of technology-led innovators.

Innovate Finance’s membership ranges from seed stage startups and global financial institutions to investors, professional services firms, and global FinTech hubs. All benefit from Innovate Finance’s unique position as the single point of access to promote enabling policy and regulation, talent and skills, business opportunity and growth, and investment capital.

By bringing together and connecting the most forward-thinking participants in financial services, Innovate Finance is helping create a global financial services sector that is more transparent, more sustainable and more inclusive.

Our numbers

6

Years Supporting FinTech

18

Industry Verticals

1:5

Financial Institutions to FinTech startups

Industry numbers

$4.9 Billion

Invested into UK FinTech in 2019

2nd

UK is the second biggest market in the world for FinTech investment.

71%

FinTech adoption rate in the UK

Priority Programmes and Initiatives for 2020

Regulation, Policy and the Future of Finance

Supporting the UK’s advancement of proportionate and effective regulation.

We will continue to work with regulators and government to help ensure the voice of the FinTech sector is heard across key policy areas. Our mission is to ensure the UK remains a leading global FinTech ecosystem and the most attractive hub for setting up a FinTech business. Our policy work helps promote innovation in the UK, and supports our members as they navigate the shifting political and economic landscape following the Coronavirus and Brexit. The input of our Members is vital, helping us to ensure that we are representing the needs of an evolving sector.

Capital and Investment

Highlighting the UK as a leading, investment-friendly centre for FinTech globally.

We understand that access to capital is a crucial aspect for any growing company. Opportunity and insight seem to be everywhere, but it is often difficult to cut through the noise and gain real value. Through our Capital and Investment Programme Innovate Finance is opening up access to capital for our FinTech members, providing connections to the venture community and delivering insight with our seminal UK VC investment landscape. The Programme will run throughout the year and provide ongoing insights and events such as speed-dating between startups and investors.

Talent & Skills

Ensuring the UK continues to attract and develop a diverse pool of talented individuals.

Supporting talent and skills in FinTech is a key priority for 2020. We recognise this is the biggest issue for our FinTech community. We are in active discussions to promote all job vacancies through an industry jobs board, reaching into universities and promoting FinTech opportunities to more talented young people. We want to involve our members in our FinTech for Schools initiative to help raise awareness of FinTech and inspire the next generation of innovators, from schools to universities. Starting with City of London Schools, we will be rolling out our format and materials to a much wider geographical audience. We are also exploring how best to launch a work experience programme for school students in FinTech.

Diversity

Improving diversity in FinTech and financial services and creating positive action and inclusion.

Our Diversity Programme, led by the Women in FinTech initiative, is also a key 2020 priority and we look forward to working with members who would like to be actively involved in its development. Diversity is no longer an act of simple awareness building. The dialogue has shifted and is now geared towards action and we want to ensure the change actually happens. We will be hosting tailored workshops and sessions dedicated to providing support for women at every level and stage in FinTech. Our Powerlist will continue to be a key publication to celebrate the achievements of women right across the ecosystem.

Purpose and Value to Society

Supporting programmes which aim to ensure FinTech contributes to social betterment.

We are working closely with our members to create programmes, events and campaigns which aim to ensure FinTech and financial services increasingly contribute to social betterment both in the UK as well as globally. It is crucial to showcase the difference technology and innovation can make as a force for good. We will be actively raising awareness of FinTech with new and diverse audiences and highlighting the importance of education, financial wellness and inclusion.

Enabling FinTech Partnerships

Making it easier for FinTech companies and financial institutions to work together for mutual benefit.

Making it easier for FinTech companies to work with other FinTechs and financial institutions for mutual benefit. The strength of the UK’s existing financial centre is a magnet for FinTech companies and a route to growth. However, it can be difficult for FinTechs to work with larger institutions, which often have different cultures and processes. This poses challenges for early-stage companies light on resources and revenue, even where they have the best team in place and most up-to-date ideas and technology to pitch. Innovate Finance is committed to connecting FinTech companies and financial institutions to overcome these challenges and ensure it is easier to collaborate and work together. We want to help FinTechs form partnerships with other FinTechs too, to drive growth and enhance propositions.

National FinTech

Ensuring that FinTech is both supported and represented across the entire breadth of the UK.

Our FinTech UK National Programme aims to raise awareness, profile and engagement across the country to dramatically increase the positive contribution the sector can make to the UK. There are FinTech pockets across the UK, but for the sector to be transformational in terms of future growth, jobs and productivity, more must be done to bring them together to grow into a truly national asset. To support on this front, we have partnered with our peer member associations across the United Kingdom to launch the FinTech National Network. Help us support the nationwide growth of FinTech by showcasing investment opportunities outside of London to VCs, or demonstrating successful examples of FinTechs expanding outside of London to Cardiff, Belfast or Leeds, rather than choosing overseas.

International FinTech

Connecting the global FinTech community and showcasing the best of the UK.

We will continue to support our members’ international ambitions through strengthening relations with overseas hubs and showcasing the best of FinTech. We are working closely with the Department for International Trade, London & Partners and the City of London Corporation on international outreach to promote the UK as a FinTech hub. Our international priorities include raising the profile of the UK FinTech sector (both overseas and with visiting delegations), connecting members with overseas markets, helping government to operationalise the FinTech Bridges and supporting Trade Missions.

Partners

Programmes and Initiatives Supported