The UK is now home to the largest fintech hub in Europe

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  • Barclays, one of the UK’s leading banks, has shaken off widespread concerns that Brexit could hurt the UK’s fintech sector, and launched Europe’s largest fintech hub in the UK.

    The new hub, Rise London, will bring some of the world’s leading fintech startups together with financial services experts and large multinational corporations to collaborate on the future of financial services.

    Barclays will work together with these startups and corporate partners to develop new products, services and technology platforms. Jes Staley, Barclays Group Chief Executive, explained: “We believe that technology must be a core competency of a global financial institution, and we intend to be a leader in the industry.

    “Fintech startups are at the front of the technology wave that is changing our industry. Through Rise, we glean important insights; we can actively experiment with emerging technologies, and we can spot early trends and new markets as they form. This allows our employees, customers and clients to do things faster, better and at lower costs".

    Rise London will house more than forty fintech companies, in addition to banking and tech teams from Barclays, and is designed to serve as a gathering place for leaders in the fintech and venture capital communities.

    Michael Harte, Group Head of Innovation at Barclays said: “Rise is an open innovation platform to engage fintech startups with customers and clients to invent new business solutions. Our vibrant community taps into the agile and disruptive nature of these ventures. By matching fintechs with the business challenges that we face as a diversified financial services firm, we drive customer and shareholder value.  For us, the more vibrant we make the FinTech community, the greater the value contribution to customers and shareholders as well as to the financial services sector as a whole.”

    In order to support the growth of this community and foster greater collaboration, the new fintech hub will host a wide range of hackathons, workshops, networking events and professional development sessions. More than 200 hours of these events and programmes will be hosted at Rise each month.

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