Manchester is the FinTech capital of the North, new research has revealed.
In a brand new paper, Anton Miglo, director of the recently approved MSc Financial Technology programme at the University of Salford Business School, has dug into the development of Financial Technology (FinTech) in Greater Manchester.
Titled ‘FinTech Development in Greater Manchester: An Overview’, the paper explores the areas of FinTech that have the largest rates of growth, such as crowdfunding, digital payments, data security, fintech loans and insurtech.
FinTech, by definition, is the new technology that seeks to improve and automate the delivery and use of financial services.
The paper compares the FinTech structures in Manchester with those in London and other major cities in the UK to help readers understand the similarities and differences. The city was recently named one of the world’s top FinTech cities in the 2021 Global FinTech rankings, behind only London in the UK.
Known as ‘the FinTech capital of the north’, Anton believes Manchester is a thriving ecosystem in the UK for the sector.
He said: “Manchester is the largest metropolitan area in FinTech development outside of London. I think this is because, historically, Manchester has a strong tradition with entrepreneurship.
“Greater Manchester has many universities across the board. This includes Salford, which has a great entrepreneurial reputation and great digital traditions.”
The paper was written for those with an interest in the latest developments of FinTech, but also for students and those who wish to understand their future job market prospective.
“Students will have a better idea of the structure of FinTech industries after reading this,” Anton added. “If they look for a job, specifically in Manchester compared to other cities, they can see which areas are doing better in Manchester and which aren’t.”
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