London is a city that is always innovating and reinventing itself – much like the capital’s burgeoning fintech sector.
On 26 February 2021, Ron Kalifa OBE, Non-Executive Director of the Court of Directors at the Bank of England and Vice-Chairman of WorldPay, released his independent Fintech Strategic Review – the Kalifa Review – featuring recommendations to ensure London and the UK maintain global leadership in the sector.
Thanks to fintech unicorns such as Checkout.com, Wise, Starling Bank, Onfido, Monzo, and Revolut, the UK represents more than 10% of the global market share in fintech. Last year, London led in Europe for fintech investment with $4.5bn, almost half of all European fintech investments. London’s fintech sector has already seen a strong start to 2021 too, with London’s fintech raising $5.3bn in the first six months of the year.
This report looks at the future of the fintech sector and provides a snapshot of three of the next big innovations in London’s fintech ecosystem.
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