London could just become the FinTech capital of the world if all the predictions are to be believed. The proximity of the Shoreditch tech scene to the financial centre in the City of London provides a distinct advantage over Silicon Valley. However, there are still barriers to overcome if the FinTech revolution is take hold. Take a short walk from Liverpool Street to Old Street by the back streets to see how different the two worlds are. Just north west of Finsbury Square the tall glass skyscrapers of the City are replaced by low-rise warehouses and Victorian factory units. These are home to the emerging tech scene.
FinTech startups are not a homogeneous group. There are two distinct types; those who are tackling the legacy functions that are deeply embedded in the corporate structures and those that disrupt by dealing directly with the consumer and bi-pass the banks altogether. … Read more