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Why London will be the fintech capital of the world

by LLT FINANCE REPORTER
14th Jun 21 2:14 pm

Jinesh Vohra, founder of Sprive, believes that London will continue to be the fintech hub of the world for the foreseeable future. He comments: “We have world-class talent, forward thinking approach to regulation, access to capital and proximity to an innovative financial services sector.”

He believes that the next few years are set to be very important for the UK’s fintech space and comments: “Nowhere in Europe rivals the scale of the fintech industry like the UK and the intention should be to keep it that way. Certainly, prior to Brexit there was much speculation that London would losing its place in the fintech space, but we didn’t consider that for a moment.

“A combination of investment and competitiveness continues to put London at the forefront of fintech advancement, and when combined with customer pressure to innovate, more change within the financial services’ sector will be driven for the better – and importantly to benefit both the industry and the consumer.”

Mr Vohra also believes that Ron Kalifa’s proposed £1b ‘Fintech Growth Fund’ will also become a major boost for young start-ups, a must for the sector which is now worth more than £11b to the UK’s economy and which represents 10% of the global market share.

“For us at Sprive we are excited to be one of a number of consumer led companies that building new innovative technology that is really looking to disrupt the traditional ways of managing your finances that has flexibility and accessibility at its core.

“We’re combining young talent and smart technology to enable people to pay off their mortgages faster, and with an ambitious 5 year growth strategy, we know we will win over swathes of customers who want to use our technology to improve their financial position.

“We know that there is demand for consumers to pay off their mortgage faster and for them to pay their lender less interest.  Many financial institutions don’t make it easy and by using smart technology they can save a lot more.

“During the next decade, there will be an enormous influx of new entrants looking to revolutionise the financial services sector. We want to be laser focused on our customers with ambitions to become a market leader with a range of value-added services to help them reach financial freedom as soon as possible.

For the moment, Mr Vohra and his team at Sprive are proud to be a UK-based fintech that is building new innovative technology that their customers love. This is certainly one fintech to watch.

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