Invest in Manchester | New report will showcase Greater Manchester’s FinTech ecosystem

Working in partnership with key regional stakeholders, Whitecap Consulting is to publish a new report focusing on the FinTech ecosystem in Greater Manchester, helping to address the recommendations of a national strategic review.

The Kalifa Review, published in February 2021, was the result of a strategic review of UK FinTech and highlighted Manchester and Leeds as one of three ‘established’ regional FinTech clusters in the UK. The review recommended that each cluster develop a growth strategy and this new report will provide data, analysis and insights to support the future development of FinTech in Greater Manchester.

Whitecap’s previous report in 2020 identified Greater Manchester as the largest regional FinTech ecosystem in England. The city is home to the largest financial and professional services sector outside of London, and is also the second largest PE hub in Europe.

The project is currently supported by Bruntwood SciTech, MIDAS and Vialto Partners, along with promotional partners pro-manchester and FinTech North. It will involve detailed research and analysis of the ecosystem, including a program of interviews and engagement via roundtables and events, including FinTech North’s annual conference in Manchester on 24 November, and a pro-Manchester seminar on 13 December.

Deb Hetherington, Head of Innovation Services at Bruntwood SciTech, says:

“We are delighted to be one of the main sponsors of this report and to champion the growth of FinTech in Greater Manchester. FinTech is a sector we have actively supported in recent years, alongside other fast-growing digitally-led sectors such as LegalTech and HealthTech .Within Manchester’s Innovation District, Bruntwood SciTech has three well-established campuses home to more than 250 start-ups, scale-ups and large science and technology businesses; at Manchester Science Park, Circle Square and Citylabs, and we will be creating a fourth in partnership with the University of Manchester – ID Manchester FinTech is a rapidly growing pillar of strength for Greater Manchester, which we will continue to support scaling through access to finance, highly skilled talent in the region, new markets and our wider ecosystem support.”

Deborah Walker, Head of Financial, Professional and Business Services at MIDAS, Manchester’s Inward Investment Agency, says:

“We are delighted to be working with Whitecap Consulting on this project, continuing a long-standing partnership on various initiatives relating to regional FinTech development in Greater Manchester. The original 2020 report has been a great source of data, insight and content for our internal investment activity and we look forward to seeing the findings and reading the latest in the history of this high-growth sector.”

Sam Booth, chief executive of pro-manchester, says:

“pro-manchester is thrilled to be working with Whitecap Consulting, MIDAS and the other partners on the Greater Manchester FinTech Ecosystem Update. The first report found that Greater Manchester hosts the largest FinTech ecosystem outside of London. As a region that is proud of its approach to collaboration, we are excited to see what insights this updated version will provide.”

Whitecap Consulting previously produced a widely publicized report on the Greater Manchester FinTech Ecosystem in 2020 and has conducted research and analysis of a number of regional FinTech ecosystems in the UK including: Leeds City Region, West Midlands, North East, Bristol & Bath, Northern Ireland , and Scotland.

The original Greater Manchester report was published shortly after the outbreak of Covid and it is now almost three years since the research process for this report began. Whitecap is also currently updating its Leeds report, and recently published a three-year FinTech strategy for the North East.

Previous reports have been supported by a mix of public and private organizations and universities, and Whitecap is still seeking additional sponsors for this project. To inquire about getting involved, email [email protected]

This project will be the focus of a panel session at the upcoming FinTech North conference in Manchester on 24 November, as well as a pro-Manchester event on 13 December.