West Midlands Fintech: Building the Future of Finance
The West Midlands is rapidly establishing itself as one of the UK's primary fintech hubs, as per a recent report showcasing its contribution to over 11,000 jobs in the region.
Driven by the prohibitive expenses of setting up in London, many resourceful UK fintech startups are migrating northward, attracted by the West Midlands' abundant local talent and renowned higher education institutions.
The Impact Report, commissioned by SuperTech, the region's leading tech supercluster, spotlights Birmingham and the neighboring fintech sector, which has already generated £474 million in economic output. This dynamic industry is well on its way to the remarkable milestone of £1 billion.
Hilary Smyth-Allen, executive lead for SuperTech, underscores the region's significance, stating, "Just as the first industrial revolution transformed Birmingham, the future of our economy is increasingly shaped by technology, and it's happening right here."
"We're at the intersection of valuable assets and a wealth of talent, poised to provide fertile ground for the next generation of services," Smyth-Allen concludes.