Despite the continued uncertainties of Brexit, 2018 was another year for the UK’s fintech sector.
Record levels of investment poured into the community, with $16bn secured in the first six months of 2018, exceeding the value of investment in US fintech by almost $2bn.
In addition, progressive regulation and a thriving financial services sector attracted more entrepreneurs from around the world. According to EY, the UK is home to 1,600 fintech companies, with over 80 per cent based in London – creating a true global fintech capital.
Concurrently, the increased adoption of the open banking standard levelled the retail playing field for fintechs, giving the end customer greater control over their data.
The listing of the Argo Blockchain – the first ever crypto firm on the main market of the London Stock Exchange – and the IPO of peer-to-peer lender Funding Circle were big achievements.