The West Midlands has been appointed to Innovate Finance’s FinTech National Network after global investment bank Goldman Sachs revealed plans to establish a major new tech function in Birmingham.
The FinTech National Network brings together regional clusters up and down the country to encourage collaboration and ‘level up’ FinTech in the UK.
Spearheading the West Midlands’ presence on the Network is SuperTech – the UK’s first professional services technology supercluster with a focus on FinTech, LegalTech, PropTech and InsurTech.
“We are delighted that SuperTech is joining the FinTech National Network and look forward to working with the West Midlands, alongside the other Network members, to drive the domestic FinTech agenda in the UK,” said Charlotte Crosswell, CEO at Innovate Finance.
“The UK is a global FinTech leader and a highly attractive destination for investment, 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.”
Goldman Sachs’ investment is set to create several hundred jobs. The investment bank’s decision was the result of a rigorous site selection process, which favoured the city as a strategic location for expansion because of its deep-rooted talent pool; strong leadership in technology and related industries; and proximity to London.
Neil Rami, Chief Executive of the West Midlands Growth Company – the region’s official promotion agency – said: “Goldman Sachs’ investment undoubtedly cements the West Midlands’ prominence on a global scale; it is powerful affirmation of our region’s appeal to the aspirations of the world’s most iconic, multinational financial services brands and the talent they seek to attract.
“As the outcome of a meticulous review of the UK’s digital employment base, it is another resounding endorsement of our best-in-class talent from the technology and finance sectors.”