UK financial services executives back London to become world's fintech hub

William Turvill
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Some 92 per cent of UK-based financial services executives think London has the ability to become the world's fintech capital (Source: Getty)

UK-based financial services executives are backing London to become the world's fintech hub.

Some 92 per cent of those surveyed by Robert Half Financial Services said the UK has the ability to become the field’s worldwide leader.

Read more: These are the most influential people in UK fintech

Six per cent of the 100 executives surveyed were not confident in the UK's ability to do so.

New York, Hong Kong and Frankfurt were named as the top cities capable of challenging London to be best for fintech.

The executives were also asked what the greatest barriers to the UK taking top spot were.

Some 44 per cent said lack of investment in technology innovation and the same number said a lack of skilled professionals.

Read more: Fintech is coming to take your banking job

According to Robert Half, 36 per cent of financial services executives said a barrier could be the perceived lack of “Silicon Valley culture of innovation”. And 28 per cent named industry regulation.

Luke Davis, vice president of Robert Half, said: “Fintech has moved beyond a buzzword phase and is now recognised as a rapidly maturing market.”