The North East
The North-East benefits from a fast evolving FinTech ecosystem, with a corridor of innovation running from Newcastle upon Tyne to the historical university city of Durham. It has a mix of traditional financial services and a growing technology sector, creating a fertile ground for FinTech development.
The region has expertise in open banking, blockchain, mortgages, savings, cyber, and fraud tech. It also boasts several enterprise software development providers who have tech teams embedded in top tier investment banks and SME’s.
The North East is home to Sage, the UK’s second-largest tech company renowned for their accounting software, as well as Newcastle Strategic Solutions, a world-class provider of Savings Management platforms to major retail banks. Durham is home to Atom Bank, one of the best-known challenger banks and pioneers of the world’s first digital mortgage.
In North Tyneside, Stellium Data Centre is the UK’s largest data centre campus providing global connectivity via The North Atlantic Loop to transatlantic cable routes from the USA to Northern Europe connecting North East England to New York City in 66 milliseconds.
The North East is also home to the National Innovation Centre for Data (NICD), located in the 24-acre state-of-the-art innovation district – Newcastle Helix. NICD is co- funded by UK Government and Newcastle University and is a space for collaboration, knowledge transfer and innovation.
The region also benefits from a dedicated cluster management company, FinPact. It is the key delivery vehicle for the North East Fintech strategy and works closely with business networks in the region to support Fintechs as well as develop a thriving and world class ecosystem to foster collaboration, skills and innovation through financial technology.
“Newcastle has a long history of innovation in financial technology, from global accounting software giant Sage PLC to modern disruptors like Kani, Pockit and Polybox. What makes the city such a great place for fintechs to locate in is the ease of access to world-leading R&D emanating from the universities as well as a broader digital ecosystem that has the right mix of infrastructure and networks to encourage healthy competition and a growth mindset.”
Dawn Dunn, Tech Sector Lead
INVEST NORTH-EAST ENGLAND
“With a strong ecosystem of FinTechs based in the region, such as Sage, Atom Bank, and Newcastle Strategic Solutions, North East England is the perfect location for Fintech companies to locate. Our five world class universities with 120,000 students, highly skilled talent pool, national innovation centres for ageing and data and dedicated cluster management organisation, FinPact, makes us an unbeatable location for FinTech Investors. The region is making waves with its world class innovation and global reach so now is the time to invest in North East England.”
Rachel Burdis, Inward Investment Manager