The report is the result of the first ever detailed analysis of the FinTech ecosystem in the Liverpool City Region, a project that has been supported by a number of sponsors and partners, including Growth Platform (Liverpool City Region Growth Company), Liverpool City Region Combined Authority, University of Liverpool, DTM Legal, RSM UK, Professional Liverpool, and FinTech North.
It includes comment from Innovate Finance the UK’s trade body for FinTech, as well as the recently launched Centre for Finance, Innovation & Technology (CFIT). The report was launched at a FinTech North event in Liverpool, hosted at the iconic Spine building in Paddington Village, in partnership with Knowledge Quarter Liverpool (KQ Liverpool) and Sciontec Developments Limited (Sciontec).
The FinTech sector in the region is estimated to be generating £218.8m of GVA per year for the regional economy. The report maps the ecosystem across financial services, FinTech, tech, investors, workspaces, higher education, public sector, and advisory / support organisations. It identifies 42 FinTech firms that are based within the region, approximately four out of five of which are startups and scaleups. The key strengths of these firms are in payments, WealthTech, InsurTech and accounting. In addition to mapping out the FinTech sector, the report includes case studies highlighting the region’s strengths in HealthTech, LegalTech, and Gaming.
FinTechs created in the Liverpool City Region include CIRCA5000 (formerly known as tickr), while firms such as Cashplus Bank and Swoop have recently expanded into the region. Major established financial services brands including Investec, Rathbones, RSA, Barclays, Santander, and The Very Group are based in the region.