FinTech Wales launches

On April 29th 2019, Richard Theo, Wales’ Fintech Envoy announced the creation of FinTech Wales, a new, not-for-profit independent membership organisation set up to champion the FinTech and Financial Services industry in Wales.

Operating as a trade association, it will bring together entrepreneurs and businesses of all sizes, as well as technology suppliers, innovators, universities and public sector bodies. An Advisory Board of 20 people has been established, which includes representation from Welsh companies such as Credas, Confused.com, Admiral, The Principality and Capital Law. (Links?)

The organisation will act as a global voice and advocate for FinTech businesses in Wales, and one of its first tasks will be to develop a programme of activities that will support businesses and entrepreneurs who want to setup or operate in Wales.

Richard Theo said of the launch: “Whilst we are at an early stage in this process, we have already held our first Advisory Board meeting with around 20 people representing FinTech companies, financial services institutions and other organisations.

“The advisory board is made up of a group of people who are really passionate about FinTech in Wales and we are already making some headway just through bringing these like-minded people together.

“Wales has many unique advantages as a location for FinTech and we aim to build on this and make it the best place to setup or scale-up a FinTech company.

In March 2018, the UK Government identified FinTech as a strategic opportunity for the UK which it laid out in its Fintech Sector Strategy. As part of this, the UK government appointed six regional envoys to ensure that the FinTech sector becomes a success story for the whole of the UK, and not just for London. Richard Theo was appointed as the Envoy for Wales and has been integral to the foundation and collaboration of the FinTech Wales panel members.

Welsh Government has helped support the initiative by appointing a general secretary, Gavin Powell, to lead the formation and planning of the FinTech Wales organisation.

Learn more or become a member here.