Deloitte comments on today’s FinTech Strategic Review has been saved
Deloitte comments on today’s FinTech Strategic Review
26 February 2021
Louise Brett, head of FinTech at Deloitte, said:
“Today marks the UK FinTech sector’s ‘Big Bang’ moment, setting out a strategy that will accelerate growth over the next three years and be an enabler for post-pandemic recovery.
“FinTech is providing opportunities for levelling up, not only regionally but also across society. The number of UK FinTechs has doubled since 2014, to c.2,500, with an annualised growth rate of 16% over the past decade. Deloitte’s analysis suggests that the UK FinTech sector could employ a further 50,000 people over the next three years, with potential economic uplift of up to £3bn over the same period.
“Today’s review reveals that across the UK, embracing London’s super hub status, the whole of the country is bursting with FinTech activity. With a third of all FinTechs now sitting outside of London, providing the right support to enable regional clusters to thrive is vital. This is best achieved through collaboration, access to information, investment, skills and talent, and policy and regulation expertise. It is important to recognise that this isn’t about regional hubs competing with London. Instead, it is a global opportunity that, if nurtured, will ensure growth across the UK and future FinTech competitiveness on an international stage.”
Notes to Editors
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The information contained in this press release is correct at the time of going to press.
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