UK businesses are unsure about the fintech sector, according to the latest research

UK businesses are unsure about the future of the financial technology (fintech) industry, according to the latest research conducted by the Digital Finance Forum (DFF).
The survey found that just one in three fintech founders are now optimistic about the UK’s ability to maintain its position as a world leader in fintech over the next five years.
The DFF is a network of the leading founders of fintech in the UK, which aims to create conversations between regulators, policymakers, founders and entrepreneurs.
The survey found that almost two-thirds of founders in the sector consider the UK to be the current world leader in fintech, but just one-third of respondents believe the country can keep this status over the next five years.
The survey highlighted two key issues, with 61 per cent saying that access to talent is a challenge, experiencing difficulty “hiring good people” and hiring engineering and product professionals.
There is also concern that a lack of access to capital may have a negative impact on business.
UK fintech firms have seen investment in excess of £2.4 billion in the first half of 2019, despite the global fintech market seeing a significant decrease in the same period.
The UK fintech sector has been responsible for six of the top 10 deals in Europe, with UK businesses winning more than two-thirds of the overall private equity and capital investment in Europe.
Christian Faes, Chair of the Digital Finance Forum, said: “The UK must not be complacent about being the world leader in fintech, and there’s definitely a feeling from fintech founders, as revealed through this survey, that this threatens to be the case.
“There is clearly an opportunity with the new Government to make the fintech sector a priority again.”

Awards and Accreditations

Get in touch

Get in touch

If you would like to see full details of our data practices please visit our Privacy Policy and if you have any questions please email contact@grunberg.co.uk.

x