November 23, 2015

Matt Wells: UK fintech is more than just London

Matt Wells

Earlier this month we opened our new EMEA Innovation Centre in London, bringing together tech start-ups, developers, industry experts and researchers to experiment and reimagine the future of finance.

London is an incredible financial centre, rapidly emerging as one of the world leaders in financial technology (fintech).  That said, it is important to note that the future of UK fintech is not just about the capital.  

Britain’s fintech and digital economy is emerging in many UK cities.

MIDAS, Manchester’s inward development agency, predicts in our Manchester 2025 report that the financial services sector will create another 70,000 jobs in Manchester over the next decade.  

I believe many of these new roles will be in fintech as several of the ingredients that propelled London to the forefront of fintech are also prevalent in Manchester.

Manchester’s thriving financial services sector has over 100 banks and institutions based in the city, including BNY Mellon. Manchester is our second largest location in Europe with over 1,100 employees based here.

The city unquestionably has a talented workforce with the right mix of digital skills and financial services experience.

Manchester has a rich heritage of both banking and creativity.  We believe it has a rich future.

As the Government’s vision for a Northern Powerhouse gathers pace through the creation of Tech North, we at BNY Mellon will be playing a role in helping make the UK a world leader in fintech – not just in London, but in the UK as a whole.  

Elsewhere in fintech:

Mark Gibbons: Why we chose London for our new EMEA Innovation Centre

Suresh Kumar: How BNY Mellon is propelling itself through its third century of financial services leadership

Leda Glyptis: What’s next for blockchain and Bitcoin?