On Tuesday 21st September MIDAS partnered with RSM for an engaging conversation with DIT and Raisin UK about what makes Manchester the city to scale for FinTechs. The session looked more broadly at the £11bn FinTech industry in the UK and shone a spotlight into the key ingredients that make Manchester the city to scale for FinTech.

In an industry which now employs over 60,000 people, UK FinTech is booming. The industry commands over 10% of global market share and with FinTech investment hitting an all time high at almost $24bn worth of deals in H1 2021, the industry is now a key component of the UK's Financial Services industry. Within the UK FinTech industry itself, Manchester is rising to the top as it recently secured its place as one of the biggest climbers in global FinTech within The Global Fintech Index by findexable, climbing 19 places within the global top 50 and cementing itself as the number one regional FinTech location in the UK.

The session began with an overview from Nigel Jones, Tech and Creative Sector Specialist at The Department of International Trade who opened by surveying the UK FinTech landscape; an industry which currently holds 10% of global market share. Neil Pickles then introduced the RSM perspective as their Partner in Financial Services Risk Assurance by outlining their £35m financial arm of the UK's 7th largest Professional Services firm. Deborah Walker continued by expanding on MIDAS' role as Greater Manchester's Inward Investment Agency and, more specifically, how the Financial, Professional and Business Services team support businesses in these sectors in relocating to the region. Kevin Mountford  as the Co-Founder of Raisin UK introducing their journey to the UK and over 30 other countries over the past 8 years to become one of Europe's primary Deposit Aggregators with over 400,000 customers.

This highly entertaining and informative conversation then covered the strengths of the UK's FinTech ecosystem, key considerations to be aware of before a UK expansion, anecdotal experience from Raisin UK in entering the UK market in Manchester and how they scaled in Manchester. More practical regulatory guidance and investment support was examined by MIDAS and RSM as they took a deep dive into the key ingredients that make Manchester the UK's number one regional FinTech location.

If you would like any further information on anything mentioned or to arrange a direct follow up to the panel session, the contact details of each of the panel members can be found below:

• Deborah Walker, Head of Inward Investment- FPBS at MIDAS (Deborah.Walker@midas.org.uk/ Linkedin)

• Nigel Jones, Tech and Creative Sector Specialist at DIT (Nigel.Jones@trade.gov.uk / Linkedin)

• Neil Pickles, Partner in Financial Services Risk Assurance at RSM (Neil.Pickles@rsmuk.com / Linkedin)

• Kevin Mountford, Co-Founder at Raisin UK (Linkedin)

MIDAS would like to thank each of the panel members for their attendance and to everyone who was able to join us for this excellent session.

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