Tempting as it may be to assume that London is the be-all and end-all when it comes to a Fintech job hunt, the city is part of a much wider range of nationwide possibilities for those looking to enter the industry or expand their existing prospects.
Sure, a 2021 Deloitte study earmarked London as the second highest ranking Fintech ecosystem globally, and in addition it has the highest concentration of financial and professional services firms in the world.
But in wider terms, there is a lot more to explore, with more than 2,500 Fintech companies across the UK, and they are ever-increasing: growth between the years of 2011-2016 was 21% year-on-year.
Several clusters of increasing importance are emerging outside of the capital; below, we’re discovering three more UK Fintech hubs to consider in your job search.
Manchester and Leeds are the cities to consider here and there are over 135 Fintechs located in this region – the second largest cluster outside of London. Crucially, this area has an excellent educational system, producing around 70,000 graduates annually from 14 universities, one of the key factors needed to ensure the success of a tech hub.
The area has also benefited from ‘north-shoring’ thanks to expensive rents and overheads experienced by businesses in London and the south. With significant moves by corporations such as the BBC to Manchester, the trend has been copper-fastened.
Between 2011 and 2016 Manchester’s tech startups increased by 130%. Likewise, Leeds saw a 138% increase in digital over five years to 2016. These days, 7% of Fintech companies at scaleup stage are located in the Pennines region, and the area’s specialisms include lending, payments and regtech.
To discover open roles in Manchester, Leeds and the wider UK, browse our Job Board now.
Predominantly focused around the cities of Edinburgh and Glasgow, this hub is an established area of Fintech activity and is home to the third largest number of Fintech companies in the UK. The Wealthtech sector is strong here – for example companies focusing on payment technologies.
The sector is thriving thanks to a vibrant start-up scene and world-class universities – Edinburgh University is a world leader in AI and provides an expert talent pool to the industry. In 2020, Scottish startups raised a collective £345 million in venture capital funding, and in the same year, two local startups were among the winners of a UK-wide Rising Stars programme.
Investment into the region is continuing: Global, the media and entertainment group, announced the opening of a new technology hub in Glasgow last year. In Edinburgh, 31% of all job roles are in the tech sector, which makes it the city’s fastest-growing sector.
For those looking to make a move, Scotland scores well in other areas too. BNP Paribas Real Estate has used locational analysis to discover that housing affordability, a strong cultural offer and quality of life are top metrics to note, with Edinburgh scoring the highest followed by Bristol and Glasgow in second and third places.
To discover open roles in Scotland and the wider UK, check out our Job Board.
England’s second city it may be, but Birmingham lags as the UK’s third most important Fintech cluster. That means there’s potential for a lot more in this city, which offers huge scope for both employees and employers alike.
The city and wider West Midlands region already has a significant financial services presence, and its specialisms include lending, payments and banking. Birmingham has world-class universities and educational institutions, and outside of London, the city has the highest graduate retention in the UK. With 12 universities in the West Midlands, there are 50 tech-related centres of excellence located within them.
Companies – and employees – have good reasons beyond purely financial to locate here: 70,000 people graduate every year across the West Midlands, and a whopping 55% of them indicate that they want to stay in the area for work. It’s good news as forecasts indicate that employment in information and communication will increase by 7.65% by 2025, showcasing the strongest regional growth nationwide.
To discover open roles in Birmingham and the West Midlands, go to our Job Board now.