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Dev-Bank Wales MBO
15 April 2024

UK FinTech Week 2024: What Makes Wales a World Leader

GUEST COLUMN:

Sarah Kocianski
CEO
FinTech Wales

Wales’ fintech industry is in a great place. It comprises a thriving ecosystem of businesses operating in all areas of financial services and adjacent segments — and my job is to ensure that we build on the great foundations that have already been laid, ensuring it continues to thrive and grow. 

Evidence for my claim of Welsh greatness in fintech exists in insurance with 3 of the 4 major UK comparison sites being founded here, as well as newer market entrants in the insurance space such as Bikmo, pH Innovate, Acquis Insurance, Active Quote and Comparison Creator. In the world of wealth management we have Wealthify and Delio, in accountancy we have Mazuma, and in digital banking we have the brand new Zero as well as significant operations from Starling, Tandem and Monzo. These are only a few of the successful fintechs proud to fly the Welsh flag.

It would also be remiss of me not to mention the dedication to innovation Wales’ incumbent financial services companies have. Hodge Bank, Principality Building Society and Monmouth Building Society are just three that put their money where their mouths are when it comes to advancement in financial services in Wales.

So what comes next? Well, in terms of FinTech Wales I want to maintain focus on our four strategic pillars of skills and talent, funding and investment, ecosystem and community, and promotion and amplification.

I want to ensure that Wales remains home to a pipeline of world-class fintech talent by working with our educational institutions and partners to train the next generations in relevant skills. I want to raise awareness of Wales as a global fintech hub and Welsh fintechs among international investors so that they can get the funding they need to scale, and to employ the aforementioned homegrown talent ensuring it stays in the country.

I want to preserve the community that’s been built here, one of Wales’ unique features in the world of fintech, while ensuring the ecosystem continues to grow. And I want to ensure that many more people know about what makes Wales as a country, and the companies that operate here, uniquely brilliant.

These are big goals, but they will be the ones FinTech Wales is aiming for as it defines its  strategy for the next few years over the coming weeks and months. I look forward to keeping you updated on our progress.

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