The buzzing overview for Fintech in the UK 2019:

Fintech once a novel term has now become a generic expression.

Across the globe, investment and trends in Fintech sector has blasted forward at a record pace in the first half of 2018. With $57.9 billion invested across 875 deals, 2018 has engraved a significant increase from the $38.1 billion invested in all of 2017.

In the UK as a standalone basis, the Fintech industry attracted over $16 billion investment in the first half of 2018 more than any other country.

The key trends in Fintech in the UK 2019

Consolidation will be a fundamental trend:

  • As the market surges to maturity, consolidation in the Fintech space is set to be the blended flavour in the year 2019.
  • It will be noticed that huge financial institutions acquiring the more successful players, a process already underway.
  • Recent research reveals that acquisitions are up considerably since the past four years.
  • According to Hampleton Partners, the first foremost half of 2018 alone saw some 141 FinTech M&A deals with a total disclosed transaction value of $39.3 billion.
  • Amongst many examples, late last year, Paypal completed its acquisition of izettle, while there are reports that Western Union Business Service is in the proceedings of selling up to another payments provider.

The entrance of non-conventional players:

  • Since the past decades, it has been determined that the proliferation of Fintech startups is rattling the financial sector, each with their particular specialism or offering.
  • Also known as ‘techfin’, the Fintech sector has overseen the entrance of high-profile, broad technology firms such as Google, Amazon, Facebook, Apple and Alibaba.
  • These firms have commenced offering a better, economic and more user-friendly manner to deliver specific financial products as part of a wider offering of services.
  • These broader established players have considerable access to vast amounts of data and with its significant experience in managing it. With the ability to assimilate and analyse the insights this data can bring, it has allowed them to rapidly innovate. The non-conventional players have been able to work on improvisation of personalization and digital engagement of their products in real-time and as a result envisaged their offerings in response to consumer requirements.

Pivotal Role of Government:

  • Whilst private money has done remarkably well to encourage innovation and the growth of new entrants, the government and regulators still have an important role to perform in eliminating barriers to entry and growth for innovative units in the Fintech regime, to create the most conducive conditions for the sector to thrive.
  • It is against this limitation, that a movement towards increased collaboration can be witnessed.
  • Last year HM Treasury published a Fintech Sector Strategy Paper –
  • This sets out the actions that the UK government has taken to make the UK the best place to start and grow a Fintech business.
  • Alongside this, the Treasury, in collaboration with TechNation oversaw the introduction of the ‘Fintech Programme’.
  • This is a scheme designed to support promising young Fintech startups across the UK scale-up and develop the skills needed to develop and grow.

Much reason for optimism:

The year 2019 is indeed exciting for Fintech. With more inflow of investment, regulatory involvement and even more advanced and innovative products the year 2019 is a booming arena for investments. As firms continue to realize the core value of these technologies, Fintech will have a transformative effect on the financial sector. Helping firms not only manage their operations in a better manner but they democratize the financial space and ultimately allowing consumers and firms to take control of their data and leverage the opportunities it can bring.

If you would like to discuss your options for UK business visas for the fintech sector on the phone, then fill out your details in the form and we shall give you a call back! We can connect to you from any one of our offices in Mumbai, Delhi, Bangalore, Chandigarh and London.

We are organising a seminar for Fintech Industry in Mumbai and Delhi to portray additional information on the growth prospects of these sectors. Enrol now for a nominal fee as seats are limited.

For guidance on your application, write in your query at info@smi.legal. Being in the UK immigration environment more than 12 years, Immigration advisors at The SmartMove2UK [division of SmartMove Immigration] have adequate knowledge with more-than-adequate experience in UK migration assistance to guide you through your legal immigration cases, ensuring you do not miss out on anything crucial. You can connect with our associates at any one of our offices in Mumbai, Delhi, Bangalore, Chandigarh or London. You can also connect with us telephonically or through Skype for the same level of assistance.

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