Leeds Financial Technology Sector Shows Growth In Key Areas

The second analysis of Leeds' Financial Technology Ecosystem showed encouraging results

A recent report shows paramount growth for Leeds financial technology sector over the past two years

By Aidan Kerr

The financial technology sector in Leeds City Region has shown growth in several key areas over the last two years according to a new report published by strategy consulting firm Whitecap Consulting.

Analysing the regions Financial Technology ecosystem, the report represents an update on a previous report published in 2018.

Richard Coates, Managing Director of Whitecap Consulting said: “We are pleased to publish our second analysis of the Leeds City Region FinTech Ecosystem.

“Our analysis indicates that in Leeds the focus tends to be less on start-ups – the supply side, and more focused on the demand side, with a high presence of established financial services organisations seeking collaboration with innovative firms.

“This is being driven by increasing competition, new technology, increased customer expectations and challenges with in-house legacy IT systems; as well as reflecting the shift to broader a digital economy.”

Tom Riordan, Chief Executive of Leeds City Council, said: “Leeds’ ambition is to be the best, most compassionate place in Britain for people to live, work, study, invest, stay and thrive.

Our economy is exciting, modern, mixed and balanced. There have been several key developments since the previous report, which had called for actions including the development of a stronger cluster of FinTech start-ups and scale-ups, more physical spaces to support FinTech firms and more collaboration between businesses and universities.

About the Author

Aidan Kerr
Aidan is a third year journalism student at Leeds Beckett University.

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