Innovate Finance, an industry body established to promote the interests of the UKs rapidly growing financial technology (fintech) sector, launched last week in London.
Held at Level39, the launch was attended by over 250 of the country’s most senior representatives across the fintech community, financial services industry, government and media.
Innovate Finance is a new industry organisation that will accelerate the UK’s leading position in the global financial services sector by directly supporting the next era of technology-led financial services innovators – whether they be young start-ups or established industry players.
The body aims to be the voice of a new movement that believes in the immense transformative power of technology to improve every aspect of banking, finance and commerce. It will champion the UK as the undisputed centre of sustainable financial services and technology innovation, cultivate business opportunities for start-ups and drive diversity of choice for consumers.
The organisation launched with over 50 founding members including Digital Shadows, a Canary Wharf-based cyber threat intelligence company.
The company’s innovative online service caters to its clients cyber security needs by scanning the Internet for exposed data as well as any potential threats from hostile groups.
After gaining several prominent clients in the financial sector, Digital Shadows has caught industry and media attention, most recently by being featured in Pitch 10, The FinTech 50, and the CBEST initiative.
Innovate Finance will provide a single point of access to key industry influencers, clients, technologies, talent, finance and international marketplaces. Members are currently comprised of pre-revenue start-ups and multinational corporations across the insurance, retail and investment banking, technology, payments, remittance, crowdfunding and alternative finance sectors, among others.
Driven by a team of fintech entrepreneurs, the organisation is wholly dedicated to growing the UK fintech sector.
Innovate Finance is supported by the City of London Corporation, as lead sponsor. The Canary Wharf Group plc is a founding sponsor committing funding and high-tech office and events space.
The body is led by CEO Claire Cockerton, with a Board of Directors that includes fintech leaders such as Nick Hungerford of Nutmeg, Justin Fitzpatrick of DueDil, and Alastair Lukies of Monitise Plc, who will serve as the organisation’s Non-Executive Chairman.
An Advisory Council of industry experts includes Eric Van der Kleij, Head of Level39 Technology Accelerator and Nadeem Shaikh of Anthemis Group, among others.
Chancellor of the Exchequer George Osborne said:
“Key to the government’s long term economic plan is cementing Britain’s position as the centre of global finance. It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers here and around the globe, and create the jobs and growth we all want to see in the future. That’s why it’s fantastic to be here today at the launch of Innovate Finance.”
Alastair Paterson, CEO of Digital Shadows, said:
“The UK fintech sector is thriving and we are proud to be named amongst this elite group of companies spearheading innovation within it.”
