Paris Looks to Oust London as FinTech Hub
Paris has recently demonstrated that it can keep up with the big guys and could prove a threat to London’s status as lead FinTech hub. Earlier this week Paris hosted its Paris Fintech Forum, which saw over 1,500 bankers, investors, and entrepreneurs gathering to discuss the potential of FinTech in France. Tripling its turnout compared to last year’s event, it looks as though Paris is taking advantage of U.K.’s recent Brexit vote – and Britain’s Supreme Court ruling stating that Prime Minister Theresa May needs MP votes to trigger Article 50 – and are increasing pressure within the....
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Since Britain’s vote to leave the European Union in June, there have been several discussions surrounding London losing its spot as a leading global fintech hub. The topic became particularly interesting after Paris Europlace, which promotes French finance plans, chose to travel to London to entice financial firms and professionals. The French government agency, Business France, also distributed leaflets to promote the benefits of working and living in Paris. On the other side of the border, Frankfurt city officials set up a specialist hotline for banks that want to discuss moving....
The recently concluded Paris Fintech Forum saw a huge response from the global fintech sector and domestic government entities. Fintech is the hottest industry segment of this year. The competition in the European fintech industry has heated up in anticipation of the Brexit. The recently held Paris Fintech Forum has pushed France’s fintech ecosystem into the spotlight. The potential benefits offered by blockchain and other fintech applications has increased the demand for new age technology solutions in the banking and financial sector. The increased interest is driven by the potential....
The race is on between European cities including Frankfurt, Dublin and Paris for London's finance crown following the Brexit vote. Just a day after the vote result was announced last week, Ireland's foreign investment agency had already contacted more than a thousand investors letting them know the Emerald Isle is part of the European Union and will remain so, while offering assistance in moving staff over from the United Kingdom. Although this is all very premature as Article 50 is yet to be triggered and when it is, there will be up to two years of negotiations, these other major....
As London FinTech Week approaches — being held during September 2015 — Kevin Taylor, author of Fin Tech Law: A Guide to Technology in the Financial Services Industry that covers topics from Bitcoin to cybersecurity, will be available for interview, meeting or excerpt requests. The city of London is going to host FinTech Week this September to represent the thriving Fintech community. The organizers aim to unite the world of FinTech in the world’s financial capital and enhance the dialog between established multi-nationals and disruptive start-ups. They are also inviting the leaders of the....
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....