Bristol and Bath has one of the strongest fintech ecosystems in the UK with a high number of fast-growing FinTech startups and scaleups, according to a new report from regional strategy consulting firm Whitecap Consulting.
Launched in February 2020, the report comes at a time when the UK’s fintech sector is expanding geographically and is the first formal analysis of the fintech environment in the region.
The report is co-authored by Whitecap Consulting’s Julian Wells, Director & FinTech Practice Lead, and Stuart Harrison, Associate Director for the South West and was supported and co-funded by a number of organisations in the West of England, including TLT.
Dan Read, partner at TLT says: “Open banking has created easier access to the market for some of these businesses, and younger consumers in particular are more willing to engage with new entrants.
"Given the region’s strengths in both the Financial Services and Digital sectors, and the weight of investment the sector has seen in the last few years, we expect to see the number of fintech start-ups and scale-ups in the region increasing.”
The report includes an overview of the attitudes towards fintech in the region and the potential for future growth. There's also industry comment from key stakeholders at Tech Nation, Engine Shed, UWE and Hargreaves Lansdown.