23 November 2017
Kenneth Marritt

Open Banking APIs

Kenneth Marritt - Mere Digital

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Fintech discussions and conversations around the development of fintech.

Fintech: Are London based decision makers seeing past Birmingham?

21 October 2017  |  5610 views  |  0

I attended a Competition and Market Authority (CMA) sponsored Nesta Fintech Innovation Challenge in Manchester earlier this year.

Funding of £5M and access to the Financial Conduct Authority (FCA) regulatory sandbox was on offer to 50 successful applicants.

It was a popular event, with dozens of people in attendance representing Fintech startups from across the North West of England.

The company I was with missed out, which was disappointing at the time, but we moved on.

Yesterday, the FCA have produced an update report on the regulatory sandbox.

The report details the geographical breakdown of the 50 successful Nesta challenge companies.

Approximately 95% of funding had gone to Southern UK (65% to London) and International based entrants, with the remaining 5% allocation to Scotland and the East Midlands.

None of the companies at the meeting in Manchester received funding.

This surprises me given the level of attendance at the Manchester event.

Does this breakdown and allocation of funds really represent Fintech activity across the UK?

Are other factors at play?

I would welcome the thoughts of others.

Northern Companies Losing Out In Fintech Investment TagsInnovationStart ups

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Kenneth's profile

job title Co-Founder
location Daresbury, United Kingdom
member since 2017
Summary profile See full profile »
Co-Founder of a Software Development company focussed on developing Open Banking, PSD2 and API solutions for Banks and Fintechs.

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