UK FinTech bodies launch National Network
Monday 29 April, 2019 – Innovate Finance, FinTech Scotland and FinTech North are delighted to announce the creation of a national network that will encourage innovators up and down the country to connect and form multiple FinTech hubs and centres of excellence.
The FinTech National Network will foster collaboration between the hubs and provide valuable connections to amplify their collective message. The network will focus on mutually beneficial initiatives, such as skills and talent, capital and investment, and diversity, and seek to connect respective FinTech ecosystems across the UK, as well as to international markets.
Innovation is coming from startups, scale-ups and institutions across the country and it is now essential that we highlight these companies to both national and international counterparties.
Capital is still flowing into UK FinTech at unprecedented levels. In 2018, the UK had its best year in terms of investment, with over $3.3 billion, split roughly 50/50 between growth PE investment and VC investment. That’s 18% higher than 2017, which was in turn over double 2016 investment levels. These funding levels put the UK third only to China and the US.
Stephen Ingledew, CEO of FinTech Scotland said:
“Innovate Finance is leading on valuable work in areas such as attracting investors, access to skilled people and international engagement, so we are delighted to be working in collaboration with them in supporting the development of FinTech enterprises. With our shared values of encouraging diversity and inclusion in financial innovation, we are looking forward to developing our partnership in supporting FinTech growth.”
Chris Sier, Chairman of FinTech North & HM Treasury FinTech Envoy, said:
“Innovate Finance is a globally respected and recognised brand. 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.
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.”
Charlotte Crosswell, CEO of Innovate Finance, said:
“I am delighted that we will be working closer with FinTech Scotland and FinTech North across the UK. Clearly, momentum is growing within the UK’s national FinTech scene outside of London and Innovate Finance is committed to ensuring that FinTech is supported and represented across the entire breadth of the UK.”
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Innovate Finance is the independent industry body that is at the heart of the UK’s FinTech ecosystem. Founded in 2014 and supported by the City of London and Broadgate, Innovate Finance is a not-for-profit whose mission is to accelerate the country’s leading position in the financial services sector by directly supporting the next generation of technology- led financial services innovators.
More than 250 global members have joined the Innovate Finance ecosystem to date, ranging from seed stage startups to global financial institutions and professional services firms. All benefit from Innovate Finance’s leading position as the single point of access to promote enabling policy and regulation, talent development, business opportunity and growth, and investment capital. By bringing together the most forward-thinking participants in financial services, Innovate Finance is helping create a global financial services sector that is more sustainable, more inclusive and better for everyone.
Fintech Scotland has been established by the Scottish Government, the financial services sector and the University of Edinburgh to ensure that Scotland seizes the FinTech opportunity and achieves critical mass in the sector by encouraging financial innovation, collaboration and inclusion as part of the country’s broader digital economy objectives.
The founding partners were the Scottish Government, Scottish Enterprise, the University of Edinburgh, HSBC, Avaloq and Lloyds Banking Group.
FinTech Scotland acts as a strategic enabler focused on leveraging the potential economic (i.e. productivity, business creation) and social (i.e. access to financial products and employment) benefits arising from becoming a leading global centre focused on data driven FinTech innovation.
FinTech North is the focal point for the FinTech community in the Northern Powerhouse. It is an open and collaborative platform for sharing ideas, challenges and best practice, for showcasing innovative startups and scale-ups and for facilitating the connections and collaborations which create real value for businesses and consumers. Since 2016 FinTech North has delivered over 35 events across the north of England, drawing over 4000 attendees from over 600 different organisations, with speakers from 21 different countries.
Head of Communications & Diversity
020 3903 1880
0113 834 3133