Summary
This report is a comprehensive analysis of the FinTech sector across the North of England, covering three of the eight regions outside London: North East, North West, and Yorkshire & Humber. It outlines the significant contributions of the FinTech industry to the regional economy, noting that it adds over £5 billion in Gross Value Added (GVA) annually, with projections to reach £6 billion by 2030. The report details the employment landscape, indicating that approximately 70,000 people work in FinTech roles across various sectors. It identifies around 400 FinTech firms in the North, employing about 20,000 individuals, which represents 12% of the UK's total FinTech workforce. Key strengths in the region include payments, lending, wealth management, and banking. The document also highlights the collaborative nature of the FinTech ecosystem, involving startups, established banks, government bodies, and academic institutions, all working together to foster innovation and address real-world challenges.
