The UK's offer A truly global banking industry facilitating international activitiesA future-ready banking sector offering innovative servicesA talent pool of 351,000 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 351,000 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 world's global banking centre The UK is the world’s largest centre for cross-border banking, representing 16% share of international bank lending. With over 200 foreign banks active in the UK, it is one of the most globally connected banking hubs. Read more at UK Finance 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 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. $1,110bn of international debt issuance in 2022 makes the UK the leading centre for international debt 39% UK’s share in global RMB FX spot transaction the largest hub in the world 16% 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. No 1 Most mature open banking market in Europe No 1 9 out of 10 UK customers choose to transact digitally 9 out of 10 Partner story CreditEnable CreditEnable Partner story Hunit Hunit Partner story Natwest Group Natwest Group See more Case Studies "London is extremely important because it is an international hub not just for finance but increasingly also for tech and other industries." Omar Majid, Director Salonica Group "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 Everything you need The UK offers you everything you need to grow your business. We have a global outlook, which means we understand your business needs. The depth and breadth of our offer mean unparalleled opportunities for you to grow. Innovation is what we do - creating an inspirational ecosystem where you can thrive. Choose the UK Innovation Open and global Business environment Opportunity Talent Industries A UK-wide offer 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