A digital hotbed for innovation
With a strong ecosystem of innovation, access to large Fintech market opportunities, an unrivalled network of business clusters, five world class universities and a highly skilled talent pool, North East England is an unbeatable location for FinTech companies to locate and grow.
The region has expertise in Open Banking, Blockchain, Mortgages, Savings, InsureTech and Fraud Tech. The region boasts several enterprise software development companies who have tech teams embedded in top tier investment banks and – in addition to one of the UK’s foremost neobanks, Durham-based Atom – there are a number of other regional operators with banking licence applications well underway
Why FinTech firms choose to locate in North East England
- Existing ecosystem of digital businesses playing a pioneering role in Fintech, including Atom Bank, Kani Payments, True Potential, World Pay and Wirecard
- Five universities with over 51,000 students studying STEM subjects, producing a high quality talent pool of graduates ready for the workplace
- Access to large market opportunities for Fintech companies, locally we have the headquarters of Sage, Atom Bank and Newcastle Strategic Solutions
- The region has a thriving digital cluster and is home to two National Innovation Centres plus globally unique innovation hubs
- Quality Grade A office accommodation and innovation hubs such as Sunderland Software Centre, TUS Park and Salvus House all focussed on growing innovative tech businesses.
Interview with Dawn Dunn, Fintech Lead, Dynamo North East
Over recent years, the financial services sector has been transformed through new technology and the Fintech revolution has been born.
The region is a digital hotbed with a strong ecosystem of innovation, coupled with a vibrant financial and business services sector, which is attracting global players in the Fintech market who are exploiting the market opportunities available here.
Companies including Sage, Virgin Money, Newcastle Strategic Solutions, Kani Payments and Atom Bank all have major operations in our region and are leading the way with the latest Fintech technologies and services.
Unbeatable skills availability
The region is home to five reputable and established universities that provide high quality graduates specialising in technology, accounting and design – all skills required by FinTech companies.
Colleges and universities in North East England are working with the private sector to deliver courses that meet the skills demand for the tech sector. The North East Futures University Technical College (UTC), in Newcastle is helping to create the digital workforce of the future. The UTC has private sector backing from global companies with a North East presence including Accenture, HewlettPackard, Sage and Ubisoft.
Unrivalled cluster groups
North East England offers a superb support network for businesses, with a unique eco- system primed and ready to welcome investors. Our vibrant tech cluster collaborates on skills and development to fuel rapid business growth.
Key business networks in our region include Dynamo North East, Sunderland Software City and North East & Tees Valley Digital Catapult who all offer superb networking, training and support to investors. Research institutions such Newcastle University’s ‘Cloud Innovation Centre’ also supports business with research and knowledge transfer.
Key fintech companies who have chosen to locate in North East England
Atom Bank – Atom Bank plc is based in Durham, North East England and was the first challenger bank in the UK. Atom Bank is the UK’s first bank built for smartphone or tablet, without any branches.
Honcho Markets – This reverse-auction car insurance platform recently
closed a second round of funding in excess of well over £1m. In honcho-land, the customer is king with a platform that invites insurers to bid against each other for business.
Kani Payments – This SaaS based reporting and reconciliation platform
streamlines back office operations while keeping costs to a minimum. Founder, Aaron Holmes, launched the business in 2018 after realising the ‘pain points’ of challenger banks, card issuers and a host of other companies. Since their inception they have gone on to win award after award and are well recognised in the FinTech space.
Newcastle Strategic Solutions – One of the best kept secrets in the area, where technology meets financial services, has to be the team at Newcastle Strategic Solutions. Originally borne out of the Newcastle Building Society, they provide comprehensive white labelled services from their headquarters based in North Tyneside. These services are mainly savings platforms for many household names and they have a steady growth plan
for the next decade.