Post Brexit: Will London Remain the Fintech Capital of the World?
by
Tom Higgins
With adversity comes opportunity.
This article was written by Tom Higgins, CEO of Gold-i.
Whilst I think the Brexit outcome is a terrible one – particularly for the future of the young people in our country who are more international and feel more European than previous generations – I don’t think the decision will negatively impact the thriving Fintech sector in London.
Our fintech industry is not driven by having clients here but by the pool of talent we have in the UK. People who work in the fintech industry choose to live in or close to London for a number of different reasons - above all, because it’s a great place to live, with a wealth of culture on our doorstep. It also has the advantage that we are in a better time zone for global business than other countries, even other European countries.
Whilst some banks may choose to relocate, I don’t think the technologists who are suppliers to these banks will need to move to be closer to them. Despite the Brexit decision, the environment in which the technologists have chosen to live won’t change dramatically– so there is no reason that the fintech industry needs to find a new capital.
It’s also worth noting that, unlike other sectors in the UK, the fintech sector hasn’t benefited from EU money. This means that we aren’t going to suffer from missing out on EU grants. We will continue to find funding to drive innovation forward, largely through private investors
In my view, the biggest issue which could potentially hamper growth is recruitment. Hopefully, a points-based system will be adopted in the UK, such as that used in Australia, to enable us to continue to fill skills gaps by attracting educated, talented employees from outside the UK. A new points-based system may involve more work for recruiters but it is certainly worth putting in the extra effort required.
I am a firm believer that with adversity comes opportunity. Provided we have the wealth of talent in London to enable the fintech sector to prosper, the weakening pound may end up creating even more opportunities, making our UK exports even more attractive to a global audience. Let’s hope that’s the case….
This article was written by Tom Higgins, CEO of Gold-i.
Whilst I think the Brexit outcome is a terrible one – particularly for the future of the young people in our country who are more international and feel more European than previous generations – I don’t think the decision will negatively impact the thriving Fintech sector in London.
Our fintech industry is not driven by having clients here but by the pool of talent we have in the UK. People who work in the fintech industry choose to live in or close to London for a number of different reasons - above all, because it’s a great place to live, with a wealth of culture on our doorstep. It also has the advantage that we are in a better time zone for global business than other countries, even other European countries.
Whilst some banks may choose to relocate, I don’t think the technologists who are suppliers to these banks will need to move to be closer to them. Despite the Brexit decision, the environment in which the technologists have chosen to live won’t change dramatically– so there is no reason that the fintech industry needs to find a new capital.
It’s also worth noting that, unlike other sectors in the UK, the fintech sector hasn’t benefited from EU money. This means that we aren’t going to suffer from missing out on EU grants. We will continue to find funding to drive innovation forward, largely through private investors
In my view, the biggest issue which could potentially hamper growth is recruitment. Hopefully, a points-based system will be adopted in the UK, such as that used in Australia, to enable us to continue to fill skills gaps by attracting educated, talented employees from outside the UK. A new points-based system may involve more work for recruiters but it is certainly worth putting in the extra effort required.
I am a firm believer that with adversity comes opportunity. Provided we have the wealth of talent in London to enable the fintech sector to prosper, the weakening pound may end up creating even more opportunities, making our UK exports even more attractive to a global audience. Let’s hope that’s the case….
Insurtech, Crypto, and Blockchain: The Fintech Trifecta of Q1 2024
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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