The FinTech sector in the North of England is now adding £5 billion to the regional economy each year, with nearly 400 firms employing close to 20,000 people. This contribution is growing, as the workforce across FinTech and related sectors swells to almost 70,000.
The North, which accounts for over 20% of the UK’s population and generates £344 billion in economic output, has long been recognised for its importance in driving national economic growth. The region’s educational infrastructure, with 42 universities and over a million students, further supports its rising prominence in FinTech.
New recommendations aim to accelerate sector growth, such as a dedicated FinTech Accelerator, Investment Fund, and Reskilling Programme. The report also highlights the concentrated FinTech clusters in cities like Manchester, Leeds, and Liverpool, where Payments, Banking, and WealthTech dominate.
Despite a strong economic footprint, the report points to gaps in diversity, noting the low percentage of female founders. Nevertheless, with continued investment and support, the sector is poised to play an even greater role in the UK’s broader financial technology landscape.
This data underscores the North’s growing influence as a key player in global FinTech.
