Written by: Mark Gibbons | Chief Information Officer–EMEA, BNY Mellon
One of Silicon Valley’s strengths is its distinctive fearless and disruptive character. It embraces the concept of “move fast and break things,” as was Facebook’s infamous motto prior to 2014, and has developed an extraordinary culture of idea and information sharing.
Wall Street has a strong heritage in financial services and is highly regarded around the world for marketing and selling solutions.
London is a powerful hybrid of both.
Britain’s capital is currently experiencing an explosion in fintech innovation, with several new household names, including Transferwise, growing up in the City of London.
Recently, South Mountain Economics showed growth in the UK’s tech sector is outstripping that of Silicon Valley, while a report from Accenture demonstrated that Europe is the fastest growing region in the world with regard to fintech investment, much of that growth in the UK.
The UK Government is also highly committed to advancing Britain’s role as a leading hub for technology through initiatives like the Tech City project and efforts to provide financing for fintech startups.
This cataclysm of tech creativity and experimentation is acting as a magnet for world class talent from all around the globe, all eager to be part of these clusters of revolutionaries, re-imagining the future of finance.
Tech hubs are popping up all over the city including Canary Wharf, Shoreditch, Soho, even Brixton in south London. London’s Tech City is now the third largest technology hub in the world, and it’s right on our doorstep. As is Level 39, Europe’s largest technology accelerator space, which is just one flight of stairs from our office in Canary Wharf.
This is why we decided to choose London as our first home in the region.
These are exciting times and we can’t wait to share more details with you about some of the companies we are working with through our new ‘fintech village’ in London.
Our EMEA Innovation Centre is now officially open! Come and talk to us. Let’s reimagine the future of finance together.