The UK's offer A truly global banking industry facilitating international activitiesA future-ready banking sector offering innovative servicesA talent pool of 371,000 professionals across the UK The world’s first choice for foreign exchange The leading centre for international debt issuance World class banking expertise Banking and capital markets are the cornerstone of the UK’s thriving financial services industry. They facilitate global flows of capital and risk management. UK banking and capital markets benefit from the cluster effect in the City of London, and draw on world-class expertise and high regulatory standards. A talent pool of 371,000 professionals works in banks across the UK, representing over a third of all financial services jobs. The UK banking sector is a forward-looking mix of wholesale banks, retail banks and challenger banks. With one of the world’s most tech-savvy markets, the UK is a great launchpad for new banking solutions. Fintech innovation is bringing new competition and more propositions to the banking sector. The UK is at the forefront of the evolution of the banking sector, actively exploring new offers brought by technologies like blockchain, AI and big data. The UK’s strengths as a listing venue London’s Equity Capital Markets Ecosystem London’s Equity Capital Markets Ecosystem Forex for the world The UK accounts for over one third of global foreign exchange trading. This is more than the next three largest centres — US, Singapore, and Hong Kong — combined. 2x US dollars traded in the UK are nearly twice the amount traded in the US 4x Euros traded in the UK are four times the amount traded in all euro area countries combined The world's global banking centre The UK is the world’s largest centre for cross-border banking, representing 15% share of international bank lending. With around 170 foreign banks active in London, it is one of the most globally connected banking hubs. Read more at UK Finance Leading international banking and capital market services The UK is an international hub for global customers to raise finance, move funds and hedge risks. It has strong links to the US and Europe as well as emerging markets. The UK is the world’s largest Indian rupee trading hub and the world’s largest Renminbi (RMB) FX spot trading hub. The UK also ranks first in Europe and non-Muslim-majority nations for Islamic finance. $3.2tn at the end of 2022 The outstanding value of the UK's international bonds was the largest in the world 37% UK’s share in global RMB FX spot transaction the largest hub in the world 15% of the outstanding value of international bank lending The UK is the world's largest centre for cross-border banking London RMB Business Quarterly The City of London Corporation RMB initiative is an industry-led group to discuss and explore ways to strengthen London RMB business. Download the latest report A future-ready banking system The UK banking sector is a dynamic mix of wholesale banks, retail banks and challenger banks. Fintech innovation is bringing new competition and more propositions to the banking sector. On the wholesale side, banks are adopting new technologies like blockchain. On the retail side, digital banking featuring lower cost and convenience is becoming mainstream. A new breed of customer is now demanding seamless digital delivery, excellence in customer service and greater personalisation. The impact of technology will continue to grow. Automation and artificial intelligence will deliver increased cost savings and improved operating efficiency. £9.7m Open banking payments made in the UK in June 2023, an increase of 88% on the same month in 2022 £9.7m 93% of UK customers are expected to use remote banking by 2032 93% Partner story BNY Mellon BNY Mellon See more Case Studies "We’re proud of our broad and deep offering across UK financial markets – partnering with some of the country’s largest companies as they tap the capital markets to evolve and grow; supporting innovative UK startups through our growth equity business; and offering market-leading rates to UK savers." Richard J. Gnodde, CEO Goldman Sachs International "London is a magnet to companies and international banks seeking to sell their products and services across the EU – its role, global influence and diversity are unmatched by any other city. It is an excellent centre from which to expand our EMEA presence more broadly, and our interaction with North America." Xinhan Xia, Chief Executive China International Capital Corporation "London is the most important European centre of real estate trading and also the most important centre for the asset management industry. So the only place where our innovation could ever have been proven as a concept was here in the UK." Roger Clarke, Managing Director and Head of Capital Markets IPSX 1 2 3 Need more information? The City of London Corporation London & Partners Great Campaign TheCityUK Innovate Finance Association for Foreign Banks Association of British Insurers The Investment Association AFME UK Finance