Fintech ecosystem in London
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The document discusses the development of a vibrant fintech ecosystem in London and Switzerland, highlighting initiatives such as Europe’s first angel network focused on fintech investments and various educational events. It outlines key ingredients for fostering a global fintech hub, including government and tax support, reduced bureaucracy, and collaboration among stakeholders. The Fintech Circle plays a central role in this ecosystem by connecting startups with investors and facilitating innovation in financial services.
Fintech ecosystem in London
- 1. Photo by @Doug88888 - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/29468339@N02 Created with Haiku Deck FinTech FUSION, 1-2 Feb 2016 FINTECH Ecosystem in London & How Switzerland can build up vibrant FINTECH Ecosystem, too
- 2. p2 FINTECH CIRCLE - OVERVIEW Europe’s 1st Angel Network focused on FINTECH investments Educational FINTECH Events & largest FINTECH Networking Group on Linked In with 9,000 members FINTECH Advisory & Corporate Venturing - Supporting financial services organizations with their FINTECH strategy => Innovation as a Service Customized FINTECH Tours for C-level execs 2 day FINTECH Tours for international fintech startups to London to learn about London’s ecosystem First crowdsourced book on the global fintech sector – more than 160 authors submitted 180 abstracts from 27 countries Published by Wiley in April 2016 © FINTECH CIRCLE 2016
- 3. p3 Helping to Grow your FINTECH Business >200 STARTUPS SCREENED Top STARTUPS INTRODUCED TO INVESTORS LONDON BASED & GLOBAL OUTLOOK Network Of 80 FINTECH investors RAISING UP TO £500K >10,000 TWITTER Followers 9,000 LINKEDIN GROUP MEMBERS TOP 16 GLOBAL FINTECH BRAND © FINTECH CIRCLE 2015
- 4. billion in 2015 was invested into FINTECH GLOBAL FINTECH $22 Digital revolution in financial services Growth of 68% over 2014
- 5. Photo by swisscan - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/7578081@N07 Created with Haiku Deck FINTECH Circle www.fintechcircle.com @fintechcircle FINTECH Circle Innovate The FINTECH Book
- 6. p6 Tech Giants are moving into Financial Services – Banks watch out! © FINTECH CIRCLE 2016 Financial Innovation Now is an alliance of technology leaders working to modernize the way consumers and businesses manage money and conduct commerce. We believe that technological transformation will make financial services more accessible, safe and affordable for everyone, and we promote policies that enable these innovations. Our member companies include Amazon, Apple, Google, Intuit and PayPal.
- 7. p7 Drivers for Fintech Solutions The Future of Financial Services – 11 Clusters © FINTECH CIRCLE 2016 Disruption is not an „event‟ It is continuous pressure to innovate Innovation cluster exerting pressure on existing business models Six Themes of innovation across all clusters 1 Streamlined infrastructures 2 Automation of high-value activities 3 Reduced intermediation 4 The strategic role of data 5 Niche specialised products 6 Customer empowerment Source: WEF – The Future of Financial Services, 2015
- 8. p8 What are the secret ingredients to grow a global FINTECH Hub? © FINTECH CIRCLE 2016
- 9. p9 Ingredient 1: Government Support © FINTECH CIRCLE 2016 Launch of Innovate Finance In 2014 With UK Chancellor George Osbourne “I want the UK to lead the world in FINTECH!” UK FINTECH Missions to major Financial Hubs • New York • Singapore • Etc => Unlimited exposure for fintech firms
- 10. p10 Ingredient 2: Tax Support to encourage seed stage/Angel Investing © FINTECH CIRCLE 2016 Seed Enterprise Investment Schemes (SEIS) Enterprise Investment Scheme (EIS) • Investing in smaller companies - providing even more generous tax breaks. Businesses must be less than two years old (there are no age restrictions under EIS). • Income tax relief of 50 per cent. • No capital gains tax to pay on profits • No inheritance tax • Loss relief • Extra relief called capital gains reinvestment relief. • Income tax relief of 30 per cent. • No capital gains tax on any profits after 3 years. • If you make a loss on your investment, you can offset that loss against income tax. • No inheritance tax to pay on shares bought through EIS. • Investors can invest a maximum of £1 million each year through EIS. Objective: Close the funding gap for start-ups & SMEs By providing “Smart Capital”
- 11. p11 Ingredient 3: Remove bureaucracy to set up a business © FINTECH CIRCLE 2016
- 12. p12 Ingredient 4: A supportive Financial Regulator is key – FCA’s Project Innovate © FINTECH CIRCLE 2016 Objective: Help fintech firm with free legal advice and authorization if required
- 13. p13 Ingredient 5: Collaboration across all Stakeholders (examples below) © FINTECH CIRCLE 2016 Tour dates: 15/16 May 16/17 Sep 28/29 Nov Europe’s 1st Angel Network Focused on Fintech Established Financial Services, Payments & Tech Companies FinTech Accelerators Academia Funding Media MentoringInviting global Start-ups to London
- 14. p14 Now over to You: © FINTECH CIRCLE 2016 “What’s your organizational FINTECH Strategy?” Organizational Alignment Innovation Labs/ Incubators/ Accelerators Collaboration with FINTECH Startups Corporate Venturing/ Investments
- 15. p15 Asset Management/Robo-Advisory Research © FINTECH CIRCLE 2016 “How will Private Banks adopt to FinTech?” If you want to join educational sessions/workshops or if you are a FINTECH start-up offering great solutions in Wealth Management, pls contact Nicolas: [email protected] Susanne provided Keynote on Robo-Advisory Trends at Carmignac Asset Management Conf
- 16. p16 1st Globally Crowdsourced Book on FINTECH provides answers © FINTECH CIRCLE 2016 Published by Wiley in April 2016 • Globally crowdsourced & crowd-voted • Helps to understand both the “big” picture plus latest FINTECH trends • Top FINTECH Authors • Sign up online – global Book Launch Parties
- 17. p17 The Future of Financial Services will be FINTECH © FINTECH CIRCLE 2016 “First they ignore you, then they laugh at you, then they fight you, then you win” Mahatma Gandhi
- 18. p18 Susanne Chishti – Contact Details © FINTECH CIRCLE 2016 • CEO & Founder of FINTECH Circle (incl FINTECH Tours to London) • Chairman of FINTECH Circle Innovate • Co-Editor The Fintech Book • @SusanneChishti @FINTECHCircle www.FINTECHCircle.com @FINTECHTours www.FINTECHTours.com @FTCInnovate www.FINTECHCircleInnovate.com @TheFINTECHBook www.TheFINTECHBook.com