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BlogNew research will explore Greater Manchester’s FinTech ecosystem

New research will explore Greater Manchester’s FinTech ecosystem

Whitecap Consulting, working in partnership with a group of regional stakeholders, is to publish a new report focusing on the FinTech ecosystem in Greater Manchester.

The project will help address the recommendations of the Kalifa Review, published in February 2021, which was a national 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 should develop a growth strategy, and this new report will provide data, analysis and insight to support the future development of FinTech in Greater Manchester.

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

The project is currently being 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 programme of interviews and engagement via roundtables and events, including FinTech North’s annual conference in Manchester on 24th November, and a pro-manchester seminar on 13th December.

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

“We’re delighted to be one of the main sponsors of this report and to be championing the growth of FinTech in Greater Manchester. FinTech is a sector we have actively supported over recent years, along with other fast growing digitally-led sectors such as LegalTech and HealthTech. Within Manchester’s innovation district Bruntwood SciTech has three well-established campuses which are home to more than 250 startup, scaleup and large science and tech businesses; at Manchester Science Park, Circle Square, and Citylabs, and we will be creating a 4th 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 funding, 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 report from 2020 has been a great source of data, insight and content for our inward investment activity and we look forward to seeing the findings and reading the latest in the story of this high growth sector.”

Sam Booth, CEO at pro-manchester, says:

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

Whitecap Consulting previously produced a widely published report on the Greater Manchester FinTech Ecosystem in 2020 and has conducted research and analysis of numerous 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 onset of Covid, and it is now close to three years since the research process for this report commenced. Whitecap is also currently updating its Leeds report, and has recently published a three year FinTech strategy for the North East.

Previous reports have been supported by a mix of public and private sector organisations, and universities, and Whitecap is still seeking further sponsors for this project. To enquire about getting involved please email [email protected]

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