A Fine Year For FinTech: Global Trends from A UK Perspective
Reports on 23rd September 2019
The UK holds a long-standing position as a major leading financial centre. Over the last decade, innovation has transformed global financial services, with the emergence and rapid growth of financial technology. A host of companies have emerged, transforming the UK from a leading financial services centre, to a nationwide hub leading in global FinTech innovation.
The UK FinTech scene has been internationally recognised as a world-leading environment where FinTechs can thrive and scale with technological innovation.
Generating revenue of £6.6bn per year, the UK’s 1,600 FinTech firms are amongst the most innovative in the world.
London is at the very heart of this convergence and transformation – a global hub for FinTech and financial services. The capital is the leading global financial centre and is Europe’s most valuable tech startup ecosystem valued at $47bn. With average early-stage startup funding of more than double the global average, there is no sign of a slowdown in innovation.
Home to an incredible pool of world-class talent, 44,000 people work specifically in FinTech roles in London – more than in Silicon Valley or New York. The UK capital provides a gateway to one of the most promising FinTech consumer markets in the world, offering excellent access to customers.
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