The FinTech Strategic Review was commissioned by John Glen, Economic Secretary to the Treasury, and is also known as the ‘Kalifa Review’ given former Worldpay CEO, Ron Kalifa’s lead on it. Designed to inform Government thinking on the FinTech sector ahead of the March 2021 Budget, it consists of five separate chapters. The outcome of which is a five-point strategy designed to keep Britain at the top of the global FinTech league table. The review sets out recommendations to ensure that UK FinTech continues to have the resources and business environment it needs to thrive. The review has five chapters covering skills and talent, investment, national connectivity, policy and regulation and international attractiveness. You can find out more on the Government’s review website.
Louise Brett, Deloitte’s Head of FinTech, along with Gerard Grech, CEO of Tech Nation, took the lead on the National Connectivity chapter. They were supported by a chapter working group comprising of CEOs, founders and leaders across the UK’s FinTech ecosystem as well as data analysis led by Deloitte.
“It has been an honour to lead Deloitte’s contribution and engagement with Gerard Grech and the FinTech ecosystem to bring the National Connectivity chapter to life: providing a unique understanding of what has driven FinTech success across the UK. Perhaps more importantly the Review provides the platform for the sector’s future growth and excellence across the UK and globally, levelling up and equalling out the positive impact FinTech can have.”
Deloitte Head of UK FinTech
We undertook a comprehensive data-led view of the UK FinTech landscape, analysing FinTech locations, FinTech growth patterns, their strengths, the driving forces behind them and why some areas are better at producing more growth than others.
The analysis was undertaken on the Deloitte FinTech database, created to help provide insights into the FinTech Ecosystem in the UK, it is supplemented by a number of data sets relating to the building blocks of a highly successful FinTech ecosystem.
- FinTech annualised growth rate of 16% vs 1.3% annualised SME growth
- Potential Gross Value Added (GVA) uplift of £2.4 - 3bn Over 3 years
- The potential to create a further 50,000 Jobs
- Business Banking
- Quotes Aggregrators
Key findings and insights explored further
Our national connectivity key findings and recommendations have been followed up with a series of blogs and articles