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Thriving FinTech in Leeds doubles in size since 2020

05/03/2023
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New report reveals substantial fintech growth in the north

  • Lenvi proudly supports new report on huge fintech growth in the north
  • A new report from Whitecap Consulting, co-sponsored by Lenvi (previously Equiniti Credit Services) shows the fintech sector in the Leeds City Region has experienced huge growth over the last three years.

Now home to more than 100 Fintech firms, and contributing more than £700m per year to the regional economy, Leeds is successfully demonstrating that the financial sector in the region is thriving, complemented by the decisions of the Financial Conduct Authority, UK Infrastructure Bank and Bank of England to establish bases in the city.

More than 100 Fintech firms have been identified in the Leeds City Region and it is the only city outside London to be home to all 3 of the UK’s major credit reference agencies.

Whitecap’s analysis shows huge growth of 263% in the number of Fintech start-ups and scale-ups with a presence in the region, which now amount to 87 firms. In total there are 107 Fintech firms, and more than 200 firms identified as operating in the Fintech sector, including financial services and tech firms.

Data analysis was conducted using a variety of publicly available and subscription-based third-party databases and platforms.

Leeds Building Society

Richard Fearon, Chief Executive at Leeds Building Society, says:

“

Tech and innovation are integral to providing the modern financial services that the Leeds City Region has become synonymous with. One-in-five of our people at Leeds Building Society hold a digital or tech role and they are fundamental to us delivering for our members. A thriving local Fintech industry also has a major role to play which is why we have been delighted to support this report.”

Richard Fearon, Chief Executive
Leeds Building Society

Charlotte Crosswell OBE, Chair

Charlotte Crosswell OBE, Chair, Centre for Finance, Innovation & Technology (CFIT), adds:

“

The growth of the Fintech sector in Leeds is very impressive, and I look forward to working with the financial services, Fintech and technology sectors in the region and across the UK to drive international FinTech growth, attract talent into the fintech sector, and ensure better outcomes for consumers and SMEs. It is important we continue to enhance the links between industry, academia, government and regulators to support this exciting sector, and ensure that its impact is felt up and down the country.”

Charlotte Crosswell OBE, Chair
Centre for Finance, Innovation & Technology (CFIT)

The new report is the result of a research project which was funded through sponsorship and support from organisations including: Leeds City Council, Leeds Building Society, LexisNexis Risk Solutions, Bruntwood SciTech, Cloud Gateway, Equiniti, University of Leeds, FinTech North and Leeds City Region Enterprise Partnership.

Read the full report here: 

About Lenvi

Founded in 2023, Lenvi is a fintech specialising in B2B consumer and commercial lending software and solutions. It combines global expertise, market insight and end-to-end services to provide loan management software, risk management software, mortgage and loan servicing, standby servicing, and Know Your Customer (KYC). Lenvi is part of Equiniti and was formed from EQ Credit Services, EQ Riskfactor and EQ KYC Solutions.