Report: London is Still the Global Hub for FinTech; Singapore and New York Follow
A new report has found that London is still leading the way as the global hub for the FinTech sector, which saw 2015 investments in the industry amounting to $19 billion. The report from Deloitte and All Street Research [PDF] looked at 21 of the major FinTech hubs around the world. After working through quantitative research and interviews with local FinTech subject matter experts, the research found there were five hubs that had a leading Index Performance Score of 25 or less, suggesting that they are more conducive to the development of FinTech. These were London, Singapore, New York,....
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Innovate Finance, a non-profit membership organization serving the UK's global FinTech community, has announced a strategic partnership with leading business association BritishAmerican Business. The collaborative initiative will connect FinTech startups in New York and London, allowing firms to expand their services and products with ease. "As the next wave of innovation in financial services begins to evolve, we are seeing London and New York emerge as the epicenters of collaboration between the incumbents and disruptors, between regulators and innovators, and investors and....
Harriet Dennys, writing in The Telegraph during the Summer, revealed that London has now overtaken New York and Beijing as the global financial center with the most "economic clout," according to a PwC study tracking the development of the world's 30 leading cities. London achieved the number one position in PwC's Cities of Opportunity index with a margin of 55 points, an increase of two places from last year's third-place ranking, placing it ahead of New York, Singapore, Toronto and San Francisco. London enjoys a growing reputation as the World's technological tech hub. The PwC survey....
Agentic Group, a New York City-based global blockchain consortium, has seized an opportunity to boost the U.K. fintech sector following the Brexit vote with the opening of a London office. The consortium, formed in 2015 to provide a cohesive voice on the financial implications of blockchains and digital currencies, has more than 35 blockchain and digital currency related companies worldwide to provide blockchain development services. Rik Willard, founder and managing director, said the organization also seeks to provide a voice on the ramifications of digital currencies and blockchains for....
American Banker reported that batches ofFinTech startups are relocating to London to engage with large financial institutions and banks through connections from accelerators and mentorships, such as Accenture’s FinTech Innovation Lab, or accelerator Level39. Global investments in FinTech ventures have reached US$12.21 billion, a large portion in London. Sir Edward Lister, chief of staff for the mayor of London, told American Banker: While many U.S-based startups have set their focus on small merchants and consumers, startups in London have pivoted to a model for larger clients, such as....
Despite the Brexit, London still holds a lot of merit for the Fintech and blockchain industry moving forward. Blockchain institutions will continue to focus their attention on London, as it remains the financial capital of the world for the time being. Agentic Group, one of the more respected blockchain consortia, has opened its London Office yesterday. This is an interesting decision, as the company hopes to boost FIntech in the UK in the wake of the Brexit. Most people active in the world of blockchain and cryptocurrency have come across the name Agentic Group at some point. The New....