London reported to be global capital for fintech
World's financial business community think London leads the way in "innovation" with 'financial inclusion' thought to be next area of focus
London has increased its lead as the world’s best city for financial technology (fintech), according to a survey conducted by Startupbootcamp FinTech.
63% of the 200 respondents named the capital as the global leader in fintech, compared to the 51% that chose the city in 2014. Additionally, 68% don’t believe the fintech industry is facing a valuation bubble, like that of the late 1990s dot.com bubble.
The survey also asked which area the next wave of fintech startups would come from – 20% said ‘financial inclusion’ would be the next area of fintech innovation, down from 30% the previous year.
Nektarios Liolios, co-founder of Startupbootcamp FinTech, commented: “London continues to combine the perfect conditions for fintech start-ups to thrive: early-stage investors, an ‘understanding’ regulator and supportive government.”