View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Software
September 15, 2015

Smart money on London, not Silicon Valley, for fintech capital

UK Treasury fintech envoy's hot tips include Nutmeg, Ravelin, Azimo and Funding Circle.

By Alexander Sword

The UK Treasury’s special envoy for fintech, Eileen Burbidge, claims the UK will be the world leader in fintech.

"London is the place this disruption is going to be," she said, speaking at Fintech Week London.

"London and the UK will lead the Fintech sector. It can’t be Silicon Valley, they have produced a few start-ups like Stripe but numbers are tiny compared to the UK."

She commented on the unique circumstances of London, including its role as a financial capital, the interest of government and the presence of a technology hub.

"London and the UK has always been one of the financial capitals of the world. 300 of the world’s largest banks have their headquarters here, over 100,000 people work in the financial services sector.

"£300 billion passes through London every day just on the foreign exchange."

She also cited the "£150 contribution to the UK economy from financial services."

Content from our partners
Technology and innovation can drive post-pandemic recovery for logistics sector
How to engage in SAP monitoring effectively in an era of volatility
How to turn the evidence hackers leave behind against them

She claimed that much of this was due to geography, as the central location of GMT allows transactions to be processed in London within the same business day.

Responding to a request for investment tips, Burbidge recommended Nutmeg, Ravelin, Azimo and Funding Circle.

A seasoned tech venture capitalist, Burbidge was appointed as fintech envoy by George Osborne in July in a ‘Productivity Plan’ designed to address complaints that the recent budget had not focused enough on technology.

Topics in this article :
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU