Innovate Finance

Innovate Finance
Non profit organisation
Industry Financial technology membership organisation
Founded 6 August 2014
Headquarters 2 Finsbury Avenue, Moorgate, EC2M 2PP
London, United Kingdom
Products Trade body
Number of employees
 10–15 (2015)
Website innovatefinance.com

Innovate Finance is an independent, non-profit membership-based organisation and industry body serving the United Kingdom's financial technology (FinTech) community.

History

Innovate Finance is an independent membership association that represents the UK’s global FinTech community. Founded in 2014 and supported by the City of London and Broadgate, Innovate Finance is a not-for-profit that advances the country’s leading position in the financial services sector by supporting the next generation of technology-led financial services innovators.

More than 250 global members have joined the Innovate Finance ecosystem to date. These companies range from seed stage start-ups to global financial institutions and professional services firms. All benefit from Innovate Finance’s leading position as a single point of access to promote enabling policy and regulation, talent development, and business opportunity and investment capital. By bringing together the most forward-thinking participants in financial services, Innovate Finance is helping create a global financial services sector that is more sustainable, more inclusive and better for everyone.

At the launch of Innovate Finance, UK Chancellor George Osborne backed the initiative and promised to support efforts to promote the UK as a global fintech leader.[1] Osborne said: "It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers, here and around the globe, and create the jobs and growth we all want to see in the future."[2]

Membership

Innovate Finance members range from global corporations to UK fintech startups, who through Innovate Finance, receive a single point of access to policymakers, regulators, investors, customers, educators, talent and key commercial partners.[3] It was launched with 50 founding members including Ratesetter, Transferwise, Azimo, Digital Shadows, HSBC, Barclays and IBM.[3] Each member pays a fee that is tiered depending on the size of the company.

Membership benefits

Innovate Finance's work includes the following core activities:

Policy and Research – Innovate Finance lobbies to represent the interests of members to government and regulators. It does this via its four Policy Working Groups and through its role as a secretariat for the first FinTech All Party Parliamentary Group. As such, members are able to indirectly influence the setting of new industry standards and have their voices heard. Innovate Finance also collaborates with its members and leading academic and research bodies to produce research on a wide range of topics within the FinTech space.

Events and Programmes – Innovate Finance curates events and workshops for its member companies to help them meet potential business partners, investors and clients. Innovate Finance programmes range from flagship events like its annual Global Summit (which draws over 2,000 decision-makers) to intimate roundtables and knowledge hacks. Large-scale events also offer key opportunities for its members to receive exposure among the wider ecosystem.

PR and Communications – Innovate Finance proactively generates exposure for its members across major trade, national and international media outlets such as Bloomberg TV, The Financial Times, The Economist, The BBC and The Guardian, amongst others. Innovate Finance also regularly delivers trade missions in partnership with UK Trade and Investment (UKTI) to the US, Europe and Asia to attract investment.

Financial model

Innovate Finance is a not-for-profit organisation. It is supported by the City of London Corporation, as well as via annual membership fees.[3] Membership fees vary based on revenue and capital raised by the organisations wishing to join, allowing Innovate Finance to cater to the smallest pre-seed startups as well as larger financial institutions. It is based in Moorgate at 2 Finsbury Avenue.

Governance model

The current CEO is Charlotte Crosswell, who was previously CEO at Nasdaq NLX (“NLX”). Previous CEOs include entrepreneur Lawrence Wintermeyer[4] who was one of the original driving forces for the organisation, along with Claire Cockerton, who was previously deputy head of the Level39 accelerator.[5].

The Innovate Finance board is composed of Natalie Ceeney (Chair) and non-executive directors, Iain Anderson, Chairman of Cicero Group, Sue Hunter, Partner at Frog Capital, Danny Lopez, Advisor and Kirsten English, CEO of Style Research.

Media coverage

Innovate Finance has been covered extensively in global publications including Bloomberg,[6] The Economist,[7] Fox Business News,[8] Australian Economic Review,[9] The Independent,[10] CNBC,[11] City AM,[12] The Guardian,[2] American Banker,[13] Euromoney,[14] and the BBC.[15]

References

  1. ↑ "UK fintech industry bands together to push innovation agenda". finextra. Retrieved 6 August 2014.
  2. 1 2 "George Osborne hopes to turn Britain into bitcoin capital". the guardian. Retrieved 6 August 2014.
  3. 1 2 3 "Innovate Finance launches with 50 members". Reuters. Retrieved 6 August 2014.
  4. ↑ "Lawrence Wintermeyer takes over from Claire Cockerton at Innovate Finance". Finextra. 12 May 2015. Retrieved 12 May 2015.
  5. ↑ Finnegan, Matthew. "Financial tech start-up accelerator Level 39 launched at Canary Wharf". Computerworld. Retrieved 19 March 2014.
  6. ↑ "Interview with Claire Cockerton, CEO, Innovate Finance - Boris Johnson Pushes London Tech for Asian Funding". Bloomberg TV. London. 28 November 2014. Retrieved 28 November 2014.
  7. ↑ "Why Bitcoin may herald a new era in finance". The Economist. London. 12 September 2014. Retrieved 12 September 2014.
  8. ↑ "Big money in London tech". Fox Business News. United States. 11 February 2015. Retrieved 11 February 2015.
  9. ↑ "Banks getting closer to FinTech disruptors". Australian Economic Review. Australia. 23 August 2015. Retrieved 23 August 2015.
  10. ↑ "Small Talk: Financial technology can rejuvenate Britain – and be a force for good". Independent. London. 10 August 2015. Retrieved 10 August 2015.
  11. ↑ Karpal, Arjun. "This university is running a course on fintech". CNBC. Retrieved 5 August 2015.
  12. ↑ Barber, Lynsey. "David Cameron backs FinTech manifesto to make UK a world leader by 2020". City AM. Retrieved 30 July 2015.
  13. ↑ Macheel, Tanaya (14 September 2015). "Innovate Finance, IBM to Open Blockchain Research Lab". American Banker. Retrieved 14 September 2015.
  14. ↑ Lee, Peter (12 March 2015). "Fintech: miiCard pioneers the online passport". Euromoney. Retrieved 12 March 2015.
  15. ↑ "UK to explore Bitcoin role - George Osborne". BBC. London. 6 August 2014. Retrieved 6 August 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.