The first ever ‘FinTech Fortnight’ is launching this February, drawing attention to this rapidly advancing sector which is impacting and evolving all aspects of finance.
FinTech Fortnight is a celebration of everything FinTech which sees start-ups through to market leaders discussing and raising awareness of this transformational sector. We are delighted to be working with key players across the market including leading start-ups and major financial institutions, including the ICAEW and Nationwide Building Society.
An independent report published in February 2016 ranked the UK as the world number one FinTech hub; this is ahead of the likes of Silicon Valley in the USA. The report cited investment, the nature of the UK’s governmental regulation and its particularly accommodating policies as key factors to FinTech’s success in the UK.
FinTech is becoming more revolutionary, and incrementally more important; a recent study by PWC theorised that FinTech will be an industry in its own right within a few years, and could constitute a quarter (25%) of the global financial industry eventually. The same study concluded that the financial sector is at a tipping point; Fintech is shaping the financial sector from the outside in, however commentators from traditional institutions argue that they are also responsible for progressing FinTech from the inside out.
Financial Services Insurance Manager at ICAEW Philippa Kelly said: “FinTech, although largely a term used in start-up circles has gained such momentum that even legacy establishments have to consider how to adapt and embrace FinTech into the services they offer. Fintech is making finances more accessible to consumers and businesses owners and is going to permanently change the financial landscape.”
Matt Cox, Head of Innovation and Insight, Nationwide Building Society added: “FinTech and digital developments are fundamentally changing our relationship with money and our financial services providers. New technology drives convenience, enabling more people than ever before to manage their money whenever and wherever they are. We understand that the financial services industry will continue to rapidly evolve and believe that the latest technology, alongside market leading face to face customer service and support is a powerful combination.”
To find out more about Fintech Fortnight please visit the website: www.fintechfortnight.co.uk