The Fintech Fix: Notes From a Small Island

Helllooo and welcome to this weeks episode of The FIntech Fix! In this episode, we take a look at THE STATE OF THE NATION! THE UK NATION that is. From taking the number one spot in the global Fintech chart to being wary of tech in general we find out what’s going on in that.

The UK is the world’s top fintech hub with high-growth firms attracting more than four point five billion pounds sterling in investment over three years. London alone has attracted nine billion pounds between twenty fifteen and twenty eighteen alone! In tech scaleup investments, the UK is currently fourth in the world behind the U.S, China and India but for the Fintech subsector, it leads the world.

The financial times has reported that Facebook has chosen London to start rolling its WhatsApp payments service that had been trialled in India. WhatsApp will add one hundred extra employees to its London and Dublin offices, which is currently about an additional quarter of its current workforce!
Now interestingly ING has reported that sixty-three per cent of Brits have never used biometric tech to log into their banks application! The Dutch Bank asked fifteen thousand people across fourteen countries with just over one thousand of the participants being from the small archipelago in North West Europe. What was more critical was the fact that over half hadn’t heard of the Open Banking or its implications.

Thanks for watching this weeks episode of the Fintech Fix, hopefully we can cover a different country next week.

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Author: Yash Hirani