- UK Scale-Up will provide international FinTechs with a ‘digital home’ in the UK to enable collaboration with financial institutions
- The new initiative, which is in partnership with the data analytics business The Disruption House, will also provide FinTechs with advice, invitations to tech sprints and access to market insights
- The government continues to support the FinTech industry, with recent speculations the Chancellor will unveil a visa fast track scheme for professionals in the tech industry to live and work in the UK
TISAtech, a digital market network that brings together financial institutions and FinTechs for greater collaboration and innovation, today announces the launch of UK Scale-Up. The initiative will help international FinTechs access the UK and partner with financial institutions, in particular banks, insurers and asset managers. TISAtech was launched by The Investing and Savings Alliance (TISA), the cross-industry financial services body, last year.
The UK Scale-Up initiative is designed to help FinTechs be discovered, stand out, accelerate engagement and monitor prospect interest during this period when usual routes to market, such as events and conferences, have been restricted due to the pandemic. The initiative catalyses corporate and FinTech engagement, building technology focussed communities and accelerating innovation through direct industry promotion and structured engagement.
TISAtech has created a digital ‘tech-bridge’ into the UK, which means a low risk, low cost, low carbon engagement strategy with a high-profile upside at a fraction of the cost of a typical industry event presence for FinTechs. Additionally, they will have access to personalised advice and support, monthly platform insights on institutional interest, receive monthly trends updates from TISA initiatives, and will be automatically invited to tech sprints relevant to their domain and to industry events.
The database already has 3,600 FinTechs, which are sophisticatedly assessed and profiled, 2,500 of which are based outside of the UK. For financial institutions, the enhanced scouting, discovery and identification process allows business leaders to scope-out and profile the suitability of FinTechs rapidly and on a single platform. It helps the financial services industry to more effectively address tech-driven transformation and the integration of new financial technologies to enhance products and services while reducing operational friction and lowering costs for consumers.
The UK Scale-Up initiative has been created in partnership with The Disruption House, the specialist benchmarking and data analytics business for financial institutions and innovative financial technology firms. Benchmarked scorecard assessments provide FinTechs with the credentials and exposure to develop successful relationships with leading financial institutions. They provide clarity on FinTech’s current capabilities, demonstrating enterprise readiness and ESG alignment, which is creating far more effective FinTech promotion, positioning and engagement than could be achieved through expensive industry events alone.
Gary Bond, CEO of TISAtech, said: “The FinTech industry needs initiatives like this now more than ever. The pandemic has caused major disruptions to trade shows and travel which have prevented growing FinTechs from expanding internationally and engaging in the market. The UK Scale-Up initiative allows FinTechs be discovered, stand out and monitor prospective interest during this period when, as a result of Covid-19, usual routes to market have been shut off. TISAtech is in the perfect position to become the industry go-to location for the sourcing the most innovative FinTechs that will help the industry adjust to the new normal of embracing digital technologies that can transform all aspects of businesses.”
David Dalton-Brown, CEO of TISA, said: “FinTech is a booming industry across the world. We know FinTechs want to enter the UK, a global financial hub, to help provide innovative technology solutions to financial services firms. TISAtech facilitates and accelerates powerful partnerships between our members and exciting, scale up FinTechs. We’re also pleased to see that the government is continuing to recognise the importance of this market, as it is expected a fast track visa will be introduced for technology professionals to live and work in the UK.”