FintechNI appoints Deloitte to develop three year strategy

The move follows publication of the Kalifa Review earlier this year, which identified NI as one of the fastest growing Fintech clusters in the UK. The review also recommended the development of three-year strategy to support the continued growth of regional ecosystems across the country, in order to ensure the UK remains a global leader in Fintech.

Working closely with Deloitte, FintechNI’s strategy will focus on three key areas: Supporting and promoting Fintech start-ups/ scale-ups in Northern Ireland; Building on the region’s existing strengths and areas of excellence in Fintech and Enhancing connectivity, both nationally and internationally.

A not-for-profit industry association representing NI’s growing financial technology community, FintechNI published the first formal analysis of the Fintech ecosystem within the province. The November 2020 report revealed the NI region has the highest concentration of Fintech employment in the UK, with an estimated 7,000 FinTech related roles, while boasting core strengths in Regtech and Compliance, TradingTech, Cyber Security and AI and Advanced Analytics.

Alex Lee, chairman of FinTech NI, said: “This is a very exciting step for FintechNI and we are looking forward to working with Deloitte on this important piece of work. Having built some real recognition and momentum and over the last two years, we are now at a pivotal point in our journey to define how we as an industry can work together to accelerate our efforts and put Northern Ireland firmly on the global Fintech stage.”

Kent Mackenzie, Lead Fintech & Regtech Partner from Deloitte, added: “We have worked with countries from across the globe on developing these strategies and from my experience, it’s clear that Northern Ireland has a very unique and exciting ecosystem that has huge potential given due care and direction.”

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