FinTech
The West Midlands’ FinTech sector is flourishing as an established network of Business, Professional and Financial companies allow roots to anchor fast.
New entrants can make use of the most established ProfTech sector in the United Kingdom by utilising innovation hubs, incubators, and technology accelerators which all allow the start-up scene to see real success.
With a £474 million FinTech community, the largest in the UK outside of local founders and international investors outside of London, the region is now a proving ground for the acceleration and adoption of new technologies. The West Midlands is also officially recognised by the UK government in the Kalifa Review as one of only three established FinTech hubs in the United Kingdom.
The West Midlands’ FinTech sector now boasts over 11,000 professionals, a 51% increase in the last two years. Companies in the region benefit from the region’s deep talent pool, and a workforce that’s not just large, but diverse and differentiated. It’s these people that have been the backbone of change, helping establish financial services firms seeking to adopt transformative technologies and ambitious start-ups looking to do things differently.
There are 12,900 computing students studying in the West Midlands Combined Authority, more than in any other combined authority in the UK, and local universities produce over 63,000 graduates a year. 11 universities are within a one-hour drive, boosting the graduate pipeline further.
With growth of over 179% over the last three years, FinTech start-ups and scale-ups are driving the next generation of services in the West Midlands with support from innovation hubs, incubators and technology accelerators, helping them to scale and grow at pace.
Prominent names in the West Midlands include CrowdProperty, Fastcheck, Delta Financial Systems, Sidetrade and WealthWizards. These names are utilising cutting-edge technologies, including AI powered order-to-cash platforms for cash collection and cloud-based transaction handling to begin building the next generation of financial services here.
FinTech in the West Midlands
Next-Generation Services
Never been done is what we do in the West Midlands.
The next generation of modern business services, from green power to digital tech, allow companies in the FinTech space to thrive in the region, and are only assisted further by entities like SuperTech here in the West Midlands.
There’s a reason the West Midlands has been shaping the global economy for over two centuries with technologies built here.
When assessing several locations for Microland’s expansion, the West Midlands was an obvious choice for us.
The area has become an epicentre for technology, with a vibrant ecosystem of major companies, access to technically skilled, digital talent and world-class infrastructure. This is essential for us in order to meet the ever-growing demands of our global customers.
SuperTech’s Innovation Lab, in partnership with BNP Paribas Personal Finance, challenges tech businesses to address key FinTech issues. This incubator accelerates innovative ideas that aim to transform the banking and financial sectors, enhance financial processes, and create economic opportunities for tech innovators, ultimately supporting the development of market-leading solutions for the financial industry.
Our sector experts can give you more information or introduce you to other benefits in and around the West Midlands, free of charge. All you need to do is get in touch.
Free support services
We bring together a project team from relevant organisations across the region. This team includes property agents, recruitment consultants, public sector departments and universities. It delivers a comprehensive support package to quickly and easily help you establish and scale your business in the UK.
