FinTech and Ecosystems
EY teams work with FinTechs to drive robust and sustainable growth, setting strategy, building new propositions, and supporting FinTechs with a wide range of business challenges. Our aim is to bring the best of EY to FinTech firms and the best of FinTech to the wider financial services market.
What EY FinTech services can do for you
We believe FinTechs are essential to the future of an innovative and thriving financial services sector. That’s why we are committed to – and investing boldly in – their success in our roles as strategic advisers, capable operators, passionate advocates and connected relationship builders.
In supporting the FinTech market, we:
- Help early-stage FinTechs start strong with practical advice and connections that lay foundations for rapid growth.
- Engage scale-up FinTechs for smarter growth, with advice, solutions and alliances that accelerate innovation and reduce risk.
- Facilitate impactful connections between investors, established financial services firms and FinTechs and RegTechs with the most promising offerings and greatest growth potential.
- Work with established firms and investors wanting to access the benefits of working with FinTech and RegTech firms.
For FinTechs, scalable and sustainable growth requires access to the right resources, stakeholders and partners, and market opportunities at the right time. That includes connections with established banks, insurers and wealth and asset managers that engage FinTechs to transform key operations and processes.
The combination of FinTechs’ innovative solutions and established firms’ scale promises to create a more customer-centric, inclusive and prosperous industry. To maximise the impact, FinTechs must have a plan to scale-up sustainably, and large firms need a clear strategy and strong implementation capabilities.
Whilst FinTechs in the UK have demonstrated impressive growth in recent years, they must continue to evolve and innovate for future growth. The next few years will see profound changes in business models across financial services, as technology advances and customer expectations rise. The EY organisation aspires to continue to be the adviser of choice for a range of market players that want to maximise their growth potential.
How EY teams increase the impact of FinTechs
With the EY global network, EY professionals help all types of financial services organisations – from early-stage and scale-up FinTechs to the largest multinationals – innovate and transform for growth.
We focus on areas of innovation across financial services including RegTech, PayTech, InsurTech, blockchain solutions, customer engagement tools, next-generation core platforms, data platforms and those applying Artificial Intelligence (AI) and providing transformational data and AI platforms.
EY view of the FinTech ecosystem
The figure highlights how these four attributes interconnect and identifies the network of broader stakeholders.
We believe high-performing FinTech ecosystems are built on four core attributes:
- Talent: technical, functional, sector and entrepreneurial skills, knowledge and experience
- Capital: sufficient financial resources for start-ups and scale-ups
- Policy: policy and regulation that promotes innovation, including tax and growth incentives and digital public infrastructure
- Demand: demand for innovative products and services across consumers, financial institutions and governments
The EY FinTech Lab
The EY FinTech Lab is a dynamic collaborative workspace designed to catalyse innovation via experimentation and rapid test-and-learn prototyping, as well as information exchange, ideation and solution design among FinTechs, potential investors, customers, collaborators and partners.
The Lab is a combination of a dedicated team, spaces in London and Edinburgh and remote working for virtual teams.
The EY FinTech Lab hosts:
- Innovation sprints, that support innovation exploration, development and validation, with a range of industry players focussed on a pressing business challenge.
- Deep dives with partners and collaborators to develop compelling alliance propositions at speed.
- Connect and collaborate events to link stakeholders across the financial services industry in London and Edinburgh.
- Sessions for established firms to explore and work collaboratively with FinTechs.
Sign up to be notified about future developments, including our innovation sprints in the EY FinTech Lab. We are currently recruiting for our first major innovation sprint.
Our latest thinking
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