Our global offer to business

Innovative ecosystem

£2.2bn The fintech sector attracted nearly £2.2bn of venture capital investment in the UK in 2019
The UK’s proposition for innovation in financial and professional services is unique: It is the only global financial centre that has a ‘full-package’ innovative ecosystem on offer.

Across services in sustainable finance and tech, businesses have access to a globally connected market, tap into a deep pool of talent and skills, and benefit from strong regulatory and government support. It is the interplay of these elements that make the UK a world-leading centre for innovation in financial and professional services.

This one-of-a-kind environment helps businesses succeed and shapes the future of the financial services industry.

The UK’s regulatory environment is at the forefront of innovation and provides businesses with an environment in which they can access regulatory expertise and effectively test their products and services

Innovation in financial and professional services in the UK benefits from a supportive regulatory environment. The UK is the first global financial centre that pioneered both a regulatory sandbox and open banking. In the World Trade Report 2019, the World Trade Organization highlights the UK Financial Conduct Authority’s regulatory sandbox as a prime example for both facilitating an effective regulator-innovator dialogue and cooperation between different markets. In 2020, the Financial Conduct Authority and the City of London Corporation began piloting an additional ‘digital sandbox’ to support innovative firms tackling challenges caused by the COVID-19 pandemic.

Such regulatory cooperation reduces costs and provides an environment in which innovation can be effectively tested.

1st

The UK is the first global financial centre that pioneered both a regulatory sandbox and open banking

9

London is the financial centre that is host to most of the Fintech 500 firms.

17.2%

The UK has a higher share of fintech-relevant graduates than other global financial centres

The UK has the highest Fintech adoption rate of all global financial centres, reflecting a fast-growing industry, wide-spread awareness, and a large customer base.

71% of the digitally-active population have adopted Fintech solutions already
The UK’s population is most ready to embrace innovation in financial services – with 71% of the digitally-active population having adopted fintech solutions already. This compares to 67% in both Singapore and Hong Kong, 64% in Germany, 46% in the United States, and just 34% in Japan.

Fintech adoption is growing across all markets and the UK is at the forefront. The UK’s adoption rate reflects a fast-growing industry, wide-spread awareness, and a large customer base. The COVID-19 pandemic will accelerate the shift to more digital, tech-based financial services even more.

Partner story

Applied Blockchain: "London is such a global business and financial centre, almost unrivalled around the world. "

Applied Blockchain: "London is such a global business and financial centre, almost unrivalled around the world. "

Partner story

Worldpay: 'There is a lot of support for companies like ours to establish ourselves and innovate in the UK market.'

Worldpay: 'There is a lot of support for companies like ours to establish ourselves and innovate in the UK market.'

Partner Story

ComplyAdvantage: "London has a huge vitality which serves as a strong pull for global talent."

ComplyAdvantage: "London has a huge vitality which serves as a strong pull for global talent."

Proportionally the UK market players are the most committed to sustainable principles

Across financial and professional services, market players in the UK are committed to sustainable principles – and regulatory measures will further drive this

The UK is home to a leading number of market players that commit to sustainable principles. The UK Stewardship Code demonstrates the commitment of those investing money on behalf of UK savers and pensioners to sustainable benefits for the economy, the environment, and society. For both signatories to the United Nations’ Principles of Responsible Investment and number of firms reporting in line with the Task Force on Climate-related Financial Disclosure (TCFD), the UK comes in second.

In November 2020, the UK government set out plans to make TCFD-aligned climate disclosures fully mandatory across the economy by 2025 – the first G20 country to do so. The UK will also implement a green taxonomy, improving the understanding of the impact of firms’ activities on the environment. Both measures will set world-leading examples and further underline the UK’s commitment to sustainable principles.

The London Stock Exchange is the greenest main stock exchangeOf all global financial centres, London is home to the greenest stock exchange. More green bonds volume is being issued at the London Stock Exchange than at other major exchanges. The issuance of green gilts will further underline the UK’s sustainable finance commitment and offer. And the UK’s pool of talent is future-ready and in a better position than any other global financial centre to work on sustainability issues and achieve ambitious climate goals.

"The supportive regulatory and policy environment in the UK has been crucial to the development of green finance not just domestically but internationally. "

Dr Rhian-Mari Thomas OBE Chief Executive, Green Finance Institute

"Our graduates join a skilled, ambitious, and future-ready workforce, putting the UK in a better position than any other global financial centre to achieve ambitious sustainability and climate goals."

Dr Frederik Dahlmann, Associate Professor of Strategy and Sustainability Warwick Business School, The Shard, London

London and the UK’s competitive strengths in a changing world

Our world-leading competitiveness is built on longstanding strengths accelerated by a commitment to innovation