A new report into the Leeds City Region FinTech ecosystem has highlighted significant growth potential for FinTech, driven by the established Financial Services sector’s increasing desire to engage with FinTech innovation.
The report details the output of an extensive analysis by Whitecap Consulting, a regional strategy consultancy headquartered in Leeds, and has been supported by a number of key organisations in the Leeds City Region including Leeds City Council, CYBG, First Direct, Yorkshire Building Society, Bruntwood, Equiniti Credit Services, Nexus (University of Leeds), Leeds Beckett University, and FinTech North.
Based on research conducted over a period of several months, the report finds the Leeds City Region FinTech ecosystem to be in a strong position in terms of its Financial Services, data and technology sectors, with a clear demand for FinTech innovation and partnerships from established Financial Services and technology organisations with a presence in the region. The research also identifies the Leeds City Region has yet to fulfil its FinTech potential given the current low numbers of FinTech start-up and scale-up firms, and a lack of hubs and workspaces dedicated to FinTech in the region. To this extent, the ecosystem is only partially formed, and has substantial potential for growth.
You can download the report here.
Cllr James Lewis, Leeds City Council’s executive member for resource and sustainability said:
“We want Leeds to become a leading home for the digital and evergrowing Fintech sector, and this type of research is an important strand of the wide-ranging work that is being undertaken to support us in reaching our goal.”