2015 regional strategy to unite all fintech hubs across the UK

9 March 2015

Innovate Finance launches regional strategy to connect fintech hubs across UK at its inaugural Global Summit

March 9th, London UK: Innovate Finance, the independent membership organisation for UK’s fintech sector, today launched its 2015 Regional Strategy during the organisation’s inaugural Global Summit at London’s historic Guildhall. The significant plan is part of the organisation’s drive to promote financial technology innovation in Britain by working and engaging with existing and new initiatives within the sector and to ensure that all regional fintech hubs are connected, engaged and growing across the UK. 

Key to the plan is the following five actions that Innovate Finance will pursue this year:

  • Commission a quarterly ‘fintech’ survey, highlighting the regional strengths and opportunities
  • Co-host a series partnership events in Leeds, Isle of Man, Edinburgh, Manchester and other fintech hubs throughout the UK
  • Map localised assets including academic, industry players, incubators, and entrepreneurs
  • Connect regional ecosystems with the broader marketplace of UK, Europe and beyond
  • Develop regional partnerships to ensure Innovate Finance is the key national body able to advise national jurisdictions and regional bodies on the development of a viable, sustainable, networked fintech ecosystem.

Innovate Finance announced its first regional partnership in Leeds on Thursday 5th March with the Lord Mayor and Leeds City Council. Leeds has a strong financial and technology base and is an ideal location to support the development of a fintech cluster.

Commenting on the new initiative, Tom Riordan, Chief Executive of Leeds City Council said:  “Leeds city region has great strengths in financial services, digital infrastructure and technology security and that means the fast-growing fintech sector provides us with a huge opportunity.  The new Innovate Finance Strategy will help put Leeds on the map nationally and internationally in our pursuit of this exciting goal.’”

Roger Marsh, Chair of the Leeds City Region Enterprise Partnership (LEP) said: “Leeds City Region’s significant strengths in financial and professional services and digital technology make it the ideal northern hub for fintech. Our innovative businesses, world-class universities and unrivalled digital connectivity are already being recognised as the perfect combination to host developments in this exciting and still-emerging sector and the LEP is actively working with a range of partners within the region and further afield to make sure we fully capitalise on this fantastic opportunity.”

Claire Cockerton, Innovate Finance’s founding CEO stated, “The UK’s strengths as a fintech hub is due to a range of factors including: access to capital, an advanced financial services sector and a technologically savvy customer base. These qualities are found across the UK, and Innovate Finance as the unified voice of fintech, will ensure the whole UK capitalises on these strengths.”

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