The global banking scene is seeing dramatic shifts thanks to the rise of FinTech or Financial Technology. With this technology, traditional financial services, such as personal wealth management and payments, are being replaced by smart technological innovations.
There’s little doubt that the London is the beating heart of FinTech advancements, but how has this position has been secured?
Dominating the FinTech Industry
An independent report commissioned by HM Treasury has indicated that the UK is the fastest growing region for FinTech, seeing over $1bn valuation startups alone. This year’s Fintech50, a list of the hottest FinTech firms, was unveiled in London. The list revealed that London is home to more of Europe’s innovative and progressive FinTech startups than ever before.
Given the way that London wholeheartedly welcomes the FinTech industry, it’s not hard to see why startups flock here. July saw FinTech Week 2017, where some of the biggest names in UK and international FinTech gathered for a series of conferences on the issues affecting Britain’s FinTech sector. Hosted by the Chancellor, speakers included Mark Carney, the Governor of the Bank of England, and Simon Kirby, the Economic Secretary to the Treasury, as well as many others.
Coupled with the fact that FinTech giants such as InvestCloud opening FinTech incubators and accelerations on London, allowing new firms to take advantage of their platforms for the development of their own FinTech tools, it’s no surprise that London is at the centre of the world’s FinTech growth.
The Growing Need for Digital Security
With more and more banking and financial transactions happening digitally, it’s increasingly important to make certain that adequate security measures are in place.
Whether you’re involved in the FinTech industry or you’re looking to use FinTech solutions for your business finance needs, Atech Support can help you out.
Based in London, we’ve got our finger on the pulse on the growing and ever-changing world of FinTech. We can help advise you as to the most beneficial avenues for your company’s Financial Tech solutions and ensure that everything that you’re doing is locked down as securely as possible.
To find out how your business can benefit from integrating Financial Technology and what security measures you should be undertaking, get in touch with us.