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significant banking and legal hub and a thriving tech and digital location

Leeds

 

106,000 Financial and professional services jobs

A Financial Centre of Excellence, Leeds is home to a substantial cluster of banking - with 30 national and international banks, accountancy with 150 firms including the Big Four, and a growing insurance sector. It is primed to develop as a leading location for fintech and insuretech, and is home to the UK's first fintech accelerator outside of London. A hub of expertise, 63% of jobs in the financial services sector in Leeds are high skilled, and the city exports £2bn in financial services.

A major and established centre for legal services, 17,000 are employed in the sector, and the 'big six' law practices have a strong presence in Leeds, 

£77.75m Foreign direct investment in financial services between 2014 and 2018

Foreign direct investment of £77.75m in financial services brought 293 new financial services jobs to Leeds between 2014 and 2018.

Leeds City region fintech ecosystem report 2019 - 2020

The fintech sector in Leeds City Region has shown growth in several key areas over the last two years according to a new report published by regional strategy consulting firm Whitecap Consulting.

Download the fintech report

Developing as a leading location for fintech 

The fintech sector in the Leeds City Region continues to benefit from having a large financial services sector and a strong presence of nationally successful technology consultancies, with 8 out of 10 people in fintech estimated to be working in established organisations.

The region has also continued to build its reputation as a thriving digital hub and has an increasingly high profile nationally and internationally.

Leeds City Region is home to the second highest concentration of scaleups (across all sectors) outside of the South East, and Leeds itself is also the highest-ranking city outside of London for scaleups. Clearly the region has strong credentials as a good place to grow an established business.

Leeds has more scaleups (96) than any other Local Authority outside London.

40 established financial services organisations
Leeds City region fintech highlights

  • Leeds City has a strong financial sector including more than 40 established financial services organisations - increasingly receptive to fintech and digital transformation.
  • Strengths in retail banking, consumer and business lending, insurance and credit referencing. 
  • More than 9 out of 10 people working in fintech roles work for established firms.
  • Leeds has a significant strength in financial technology consulting, with Leeds headquartered firms serving all the major UK banks and numerous other organisations outside the region.
  • The Centre for Financial Technology & Innovation was launched at University of Leeds in 2019.
  • 15,000 STEM graduates per year
    Leeds has been named as one of the top 20 fastest growing global fintech hubs to watch in 2020.
  • Leeds City Region has had 3 of the 19 regionally based participants in the FCA sandbox to date.
  • Key fintech locations: Leeds, York, Bradford, Halifax, Ilkley, Harrogate.
  • Yorkshire has seen 48% growth in digital sector employment in the last three years, with employment rising from 58,000 to 86,000. This is higher than any other region in the UK including London, with 66% of the roles based in the Leeds City Region.
  • Leeds produces and retains more STEM graduates than any other city outside of London, and is also a net importer of these graduates.
  • Leeds produces 15,000 STEM graduates per year.

(Leeds City Region FinTech ECOSYSTEM REPORT 2019-2020 – Whitecap Consulting)

Leeds City Region Legal Tech Innovation 2020

The legal sector is at a point of major industry transformation. Leeds City Region is ideally positioned to be UK leaders in this transformation. The combination the region’s sizeable legal sector, its multi-sector digital tech capability, and a large pool of experienced and graduate talent, are all key factors according to a new report published by Whitecap Consulting.

Download the legal tech report