This blog is part of a 7-part series exploring each section of the report in detail. In this instalment, we focus on summarising the key findings, notable perspectives, and headline statistics across the region. 
Chapter Summary – Regional Highlights
The North of England is home to 15 million people – more than 20% of the UK’s population – and an 8 million-strong workforce generating £344 billion in GVA. This economic weight underpins a rapidly growing FinTech sector that is both regionally significant and nationally competitive.
The report identifies close to 400 FinTech firms across the North, employing 20,000 people directly and a wider FinTech-related workforce of 68,500. The North West is the largest regional cluster, accounting for 58% of firms, followed by Yorkshire & Humber (30%) and the North East (12%).
Key sub-sectors driving this growth include Payments, Lending, WealthTech, and Banking. The region is also home to established financial services players, which provide a fertile market and talent pool for FinTech innovation. The average FinTech firm in the North is 13 years old, reflecting a mature ecosystem with both established operators and dynamic new entrants.
“This new report provides clear evidence that the North of England has emerged as a significant powerhouse in the UK’s financial technology landscape, with Leeds, Manchester, Newcastle and Liverpool establishing themselves as key centres for FinTech innovation and growth.” – Katherine Megson, Head of Innovation & Growth, Bruntwood SciTech
Key Facts and Figures
- £5.1 billion annual GVA from FinTech, forecast to reach £6 billion by 2030
- 400 FinTech firms across the North of England
- 20,000 people directly employed in FinTech
- 68,500 people in the wider FinTech-related workforce
- 58% of firms in the North West, 30% in Yorkshire & Humber, 12% in the North East
- Average firm age: 13 years; average founder age at start-up: 37
- Key strengths: Payments, Lending, WealthTech, Banking
“It feels like the North is an entity rather than a collection of different regions. There are common issues such a lack of investment and skills, and the North is responding to the economy. We are not accepting lesser jobs, and we are making strides to get FinTech skills into schools. The pendulum has swung and the north is in it together. There is a lot of opportunity in the North and FinTech has a role to play.” – Kevin Telford, Co-Founder, FinPact
Looking ahead
In the report, we suggest five ‘big ideas’ that could significantly accelerate the growth of the North of England’s FinTech sector and increase its national and international significance.
These are made up of pan-northern initiatives including:
- FinTech Accelerator
- FinTech Investment Fund
- FinTech Innovation Challenge
- FinTech Placements Programme
- Financial Services Reskilling Programme.
These proposed initiatives represent genuine opportunities to make game-changing contributions to the future prosperity of the North and the UK. Since the launch of the report we have been encouraged by our conversations with a number of organisations who are interested to see these ideas become a reality.
“The North of England has a proud history of strength in financial services, with large and productive clusters in financial services in places including Merseyside, Greater Manchester, Cheshire and West Yorkshire supported by clusters in the legal and accounting sectors were highlighted in our recent research with Durham University Business School. The opportunity FinTech represents to help the traditional sectors it straddles to achieve even higher productivity, and employ more relative to the wider areas of the country beyond London, is critical. The ambition of a £6bn GVA contribution by 2030 is just the start, with more to follow in the decades to follow it.” – Henri Murison, CEO of The Northern Powerhouse Partnership
About this blog series
This article is part of a 7-part blog series based on the North of England FinTech Report 2025, which covers:
- Regional Highlights
- Financial Sector
- FinTech Sector
- Education, Research & Innovation
- Funding & Investment
- Ecosystem Connectivity
- Hubs & Workspaces
You can read the full North of England FinTech Report 2025 here: https://www.whitecapconsulting.co.uk/press-release/new-report-finds-fintech-is-adding-5-billion-per-year-to-the-north-of-englands-economy/
Contributors
This collaborative project was conducted in partnership with Aviva, Bruntwood SciTech, FCamara, FinTech North, Innovate Finance, Liverpool City Region Combined Authority, MIDAS (Manchester’s Inward Investment Agency), Mastercard, NatWest Group, Northern Powerhouse Partnership, North East Combined Authority, PEXA UK, Pulsant, RSM, West Yorkshire Combined Authority.