We’ve switched our classes to live online. For more Covid-19 updates, click here

London will remain a top FinTech hub

London will remain a top FinTech hub

London will continue to be the world’s leading financial technology hub, according to research from rating agency Early Metrics.

The research assessed 1,500 FinTech companies across Europe and found London remains the top spot for FinTech. This is despite the challenges and uncertainty faced by executives in the industry over Brexit.

Leader

Recent reports suggest London will continue to be a world leader in FinTech, even after the UK has exited the EU. The city outperformed New York in the Z/Yen Global Financial Centres Index (GFCI) last month.

According to a 2016 study from professional services and Big Four firm KPMG and H2 Ventures, London was host to 17 of the top 50 international financial technology businesses.

Separate figures from Innovate Finance show $564 million of funding was invested into FinTech start-ups in Britain in the first half of 2017.

According to figures from Early Metrics, London now hosts over 44,000 professionals in the FinTech industry. However, the agency also highlighted challenges the city faces, with regulatory issues being a key problem when it comes to fostering innovation and attracting talent in the industry.

Boost

Early Metrics CEO Antoine Baschiera commented: “London will maintain its FinTech influence if this landscape does not change. Positioned as the gateway between the US and the EU, the UK already possesses expertise in successful FinTech ventures and the capability to continue this trend, demonstrated by the $564 million invested in FinTech start-ups this year alone.”

KPMG Strategy Partner Paul Merrey stated that “a sector deal would be a major boost to the UK’s ability to maintain its status as a global fintech leader.”


Other News

5 Essential elements of a winning business development plan

The first step to building or expanding a business is creating a concrete business development plan. Entrepreneurs will find plenty…

How strategic business planning can help you through 2020?

Every business operates with the goal of growth, but only a few manage to beat the competition at every curve.…

5 Benefits of Studying a miniMBA

Gaining a managerial role is a dream come true for many, but senior positions require serious upskilling. While pursuing a…

Back to top