London predicted to become world leader in FinTech
The majority (92 percent) of UK-based financial services leaders believe that the UK has the ability to become the worldwide leader in financial technology (FinTech), according to new research from recruitment specialist Robert Half Financial Services UK. Only six percent of financial executives are not confident in the UK’s ability to become the global hub of the FinTech market.
American cities also rank highly in the research, with New York seen as London's most likely competitor.
The study also identified the challenges that could hold the UK back from earning the top spot, including a lack of investment in technology innovation and a lack of skilled professionals.
Luke Davis, Vice-President, Robert Half Financial Services UK, commented: "FinTech has moved beyond a buzzword phase and is now recognised as a rapidly maturing market. Increasingly companies operating in this industry are finding themselves competing for talent with established players in both the banking and IT sectors. The rise of challenger banks and FinTech start-ups creates more opportunities for skilled financial services professionals looking towards greater opportunities outside of the industry.
‘When attracting skilled professionals within the FinTech industry, the key is to use a dynamic resourcing approach with the right mix of innovative and specialised professionals. As the skills shortage continues to tighten, accessing professionals who are not actively looking for jobs can be the solution. Working alongside a specialist recruitment consultancy will support this access to an untapped pool of talent.’