Sue Souter – Manchester: Positioned to capitalise on Fintech
Technology has revolutionised the finance sector, and the fintech market in Manchester is no exception. With a thriving start-up scene and an influential banking industry, Manchester is in the perfect position to become a hub for fintech innovation.
Manchester is established as a major financial centre, with over 30 banks and other financial institutions located in the city. Many of these firms are now getting on board with technology and investing in fintech solutions to help them improve their services.
The start-up scene in Manchester is also helping to fuel the growth of the fintech market. The city is home to many financial technology companies, including Nutmeg and Zopa, who are leading the charge in online investment, budgeting and borrowing.
Other start-ups such as Tandem, Countingup and Chip are making waves in the banking sector, providing new solutions and making it easier for people to manage their money.
Boodil, a Manchester-founded open banking payments and consumer engagement app, announced pre-seed funding of over £500K at the end of last year and Manchester brands in the space are now targeting US markets.
The team behind Manchester group payment app, Collctiv, are reported to have launched in the USA well ahead of schedule.
The region’s universities are also playing an important role in the growth of the fintech market in Manchester.
The University of Manchester has a dedicated FinTech department, which runs courses and supports start-ups. They are also home to the FinTech North conference, which is a major event in the fintech industry.
Influential business networking group Pro-Manchester continue to prioritise it in their calendar of events.
The government also provides support to fintech companies in Manchester. The UK Department for International Trade recently established the Greater Manchester Fintech Hub, offering start-ups and SMEs access to industry experts and other resources.
This signal of the government’s commitment to the growth of the fintech market in Manchester is encouraging more businesses to invest in the region.
Overall, Manchester’s fintech market is in a great place to take advantage of the growing financial technology sector and position itself as a centre for innovation.
No surprise then that there is a burgeoning PR industry in Manchester dedicated to the exciting and face-paced corporate and end user narrative for fintech. Innately newsy PR campaigns are playing a key role in demystifying the sector and raising the profile of its game-changing capabilities.
With government support and a thriving start-up scene, Manchester is well-poised to become a major player in the world of fintech and financial technology.