The inaugural meeting of the FinTech National Network in Manchester welcomed three new hubs as Network partners. FinTech Northern Ireland, FinTech Wales and FinTech West joined the Network, which is establishing a framework of engagement across the UK.
Launched during UK FinTech Week by Innovate Finance, FinTech North and FinTech Scotland in April, the Network aims to foster collaboration between national hubs and encourage innovators up and down the country. In addition, the Network will look to 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.
UK FinTech continues to grow from strength to strength. With over 76,500 employees working in FinTech across the UK, the sector attracted record investment in H1 2019 with UK FinTech startups receiving $2.9 billion in funding across a total of 123 deals. The FinTech National Network will work collectively to ensure that these levels of investment are benefitting companies regardless of their location.
Speaking on behalf of the Network, Charlotte Crosswell, CEO of Innovate Finance said: “It is a pleasure to welcome FinTech Northern Ireland, FinTech Wales and FinTech West to the FinTech National Network. Momentum continues to grow across the UK’s FinTech scene, which further highlights the need for collaboration between national hubs. We look forward to working with the wider Network to connect the ecosystem and drive the domestic FinTech agenda in the UK.”
Alex Lee, Member of FinTech Northern Ireland said: “At FinTech NI we welcome and support the establishment of a National Network to showcase FinTech capability and clusters outside of London. This initiative will allow the ecosystem to collaborate nationally and learn from more developed hubs on the challenges, successes and importantly failures. We recognise that working alongside regional partners will only aide our development of Northern Ireland as a regional FinTech Hub.”
Gavin Powell, General Secretary of FinTech Wales said: “FinTech Wales is excited to be a part of the National Network. This will not only boost the benefits for Wales and our members, but will also help to create a stronger and more resilient national economy. FinTech is a key area of excellence for the UK and the National Network will both support and enable its continued growth.”
Julian Wells, Director of FinTech West said: “FinTech West was created in 2019 from the solid foundations of several years of work by what was formerly known as Bristol FinTech. The energy, enthusiasm and volume of people and organisations in the Bristol and the South West who have already got involved is a clear indication of the strong potential of the FinTech sector in the region. Joining the FinTech National Network is a really positive step to ensuring this region rightly takes its place as a key player in the UK’s national FinTech sector.”
Find out more about the FinTech National Network here.