Based on research completed over the last three months, which involved engaging with over 50 stakeholders, the report is the first formally published analysis of the FinTech ecosystem in Northern Ireland. The work was sponsored by a number of organisations including Allstate, A&L Goodbody, Automated Intelligence, Belfast City Council, Derry & Strabane District Council, Invest Northern Ireland, Mid & East Antrim Borough Council, and Ulster University.
The report highlights core strengths in RegTech and Compliance, TradingTech, InsureTech, CyberSecuity and AI and Advanced Analytics and finds Northern Ireland to be ‘uniquely located with an exceptionally high concentration of FinTech employment within a thriving and highly tech-focused financial sector, fed by an outstanding education system and is supported by an evolving FinTech ecosystem with strong links to the UK, Ireland and US’. Consequently, Northern Ireland is found to have opportunities across multiple fronts, including growing the ecosystem locally, further developing the talent pool, adapting to the impacts of Covid, developing national and international trading links, and staying aligned to the development of the UK’s national FinTech ecosystem.
74 active firms within the FinTech ecosystem were identified, including established financial and FinTech organisations, FinTech startups and scaleups, and tech firms also operating in financial services. The report specifically analyses 17 FinTech startups and scaleups within the Northern Ireland ecosystem, finding 94% to have a business-to-business element to their proposition, compared to an average of 66% across other regions researched.
See the attachment at the top of the page to download the report or visit the press release for more information on the publication here.