The West Midlands has become the latest region to join the Innovate Finance Fintech National Network – a UK-wide network connecting fintech hubs across the country.
The announcement comes one week after Goldman Sachs revealed that it would be opening a new office in the region.
Earlier this year a regional Supertech partnership was launched in the West Midlands, with the aim of bringing together the area’s rapidly emerging professional services technology – or ‘proftech’ – cluster.
Charlotte Crosswell, chief executive at Innovate Finance, praised Supertech for leading the push to bring the West Midlands into the Fintech National Network.
“The UK is a global fintech leader and a highly attractive destination for investment,” said Crosswell.
“But in order to retain its position, it is important to leverage the collaboration between the various centres of excellence that are thriving across the country.”
Hilary Smyth-Allen, executive lead at Supertech, said that the fintech entity was launched in January 2021 with the sole purpose of spotlighting the West Midlands.
“We are eagerly awaiting a formal response from Whitehall outlining the industry’s future policy direction, and in the meantime continue to champion our region’s proftech potential as clear evidence of ‘levelling up’ in practice,” said Smyth-Allen.
Supertech has cited the recently-published Kalifa Review as evidence for the growth potential of the West Midlands. The review called for the levelling up of ten regional fintech growth hubs, including the West Midlands city of Birmingham.