The Future of Fintech and Banking: Digitally Disrupted or Reimagined?

Avatar, April 28, 2015 2 min read

This article was originally posted on the Tech City UK website.

Accenture has recently released a report which demonstrates the growing strength of UK FinTech when compared to the rest of the world

The report focuses on the level of investment into FinTech in 2014, when compared with overall VC investment over the same period, with the purpose of determining how the rise of FinTech has affected the banking world. Findings show that the UK is by far and away the leading FinTech hub in Europe, taking in 42% of all European FinTech investments in 2014. In the UK and Ireland, FinTech investment grew 136% in 2014, from $264m in 2013 to $623m the following year.

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Demonstrated above is the level of growth of UK FinTech investment when compared to that of Silicon Valley over the past five years, of which it has been substantially higher. Despite this huge growth, the report still points to the fact Silicon Valley FinTech investment still makes up the lion’s share at over $2 billion, with the European total standing at $1.48 billion.

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Global investment in FinTech ventures tripled to $12.21 billion in 2014, clearly signifying that the digital revolution has well and truly arrived in the financial services sector.

Download the full report here.

Topics, Fintech