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Britain-the FinTech capital of the world

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An Independent report published by Ernst & Young today ranked Britain as the first among FinTech cities of the world. Britain is first among seven leading FinTech hubs from Silicon Valley to Hong Kong.

  • Major FinTech cities: Australia, California, Newyork, Hong Kong, Germany and Singapore
  • Key factors: Talent, Capital, Policy and demand

Key points

  • Britain was ranked top after detail analysis and opinions from 65 FinTech experts
  • It supports over 61000 jobs
  • Generated £6.6billion revenue in 2015

Analysis based on Key factorsBritain-the FinTech capital of the world

  • Talent: The UK currently has a very good pool of talent but California leads for the depth of talent overall.
  • Capital: The availability of capital in the UK is good for early-stage investment and California is dominant in FinTech investment overall.
  • Policy: The UK has the strongest FinTech policy environment, with the most supportive regulatory regime whereas policy initiatives in Singapore and Australia are increasingly progressive.
  • Demand: FinTech Demand is robust in the UK with London being the financial capital supporting it

Points to note

  • California though is ahead of UK in other 3 factors occupies 2nd place owing to the regulatory policies
  • The major strength of UK is its policy which is Transparent, simple and Industrial led approach