Barclays Bets Big on Fintech in UK Despite Brexit Fallout

CXM Editorial TeamCXM Editorial TeamApril 27, 20173min

The fintech scene is growing in London at a time when many banks are looking to exit the city.

At a time when other lenders are eyeing a succinct exit from the UK, Barclays is looking to shore up at least one segment of its operations in London, strengthening its fintech capabilities in the capital. The group’s fintech arm, Rise, is also looking to dramatically expand its operations.

The London Summit 2017 is coming, get involved!

Indeed, the mood in the UK may be doom and gloom for the banking sector, though opinions surrounding the fintech space are much more optimistic. London has already to date seen a massive influx in fintech spending and investments, with Barclays being the latest lender to shift its focus towards the space.

Despite the onset of Brexit, London’s Shoreditch block is slated to become the new nexus for Barclay’s ‘Rise’. The bank runs a total of seven Rise workspaces worldwide, including in such financial hubs as New York, Mumbai, and Tel Aviv, among others – it hosts a business accelerator in partnership with Techstars and offers co-working space for small financial tech businesses.

The trend foster continued growth for the fintech sector in the UK, with banks looking for alternative forms of investment to enter into. Many lenders have opted to embark on more digitized strategies, a clear attempt to depart from traditional banking strategies that have been mired in low profitability.

On Barclay’s part, the investment could also prove to be a bright spot – the news on the heels of its recent expansion of its European equities unit, which saw nearly twenty new hires earlier this month.

 

Written by: 

Source: Finance Magnates


CXM Editorial Team

CXM Editorial Team

Published for all CX professionals, the digital Customer Experience Magazine is packed full of industry news, blogs, features, video bites and international stories all focusing on customer experience. CXM will help you learn what makes an outstanding customer experience that wins both awards and the hearts of customers. And sometimes we share some cool music as well.




Inform. Inspire. Include.
A free way to improve your business.

Customer Experience Magazine is the online magazine packed full of industry news, blogs, features, reports, case studies, video bites and international stories all focusing on customer experience.


CONTACT US

CALL US ANYTIME



Contact Information

For article submissions:
Editor
Paul Ainsworth
editorial@cxm.co.uk

For general inquiries, advertising and partnership information:
advertising@cxm.co.uk
Tel: 0207 1932 428

For Masterclass enquiries:
antonija@cxm.co.uk
Tel: 0207 1937 483

Customer Experience Magazine Limited
Acacia Farm, Lower Road,
Royston, Herts, SG8 0EE
Company number: 7511106


Newsletter