A new survey by the Digital Finance Forum has found that only one in three UK fintech founders are optimistic about the country’s ability to remain a world leader in Fintech in the next five years.
The ability of Fintechs to attract and hire talented people is a key challenge identified by thestudy that the government is asked to address urgently. However, the Fintech founders surveyed also revealed that the access to talent issue is not restricted to finding more talented engineers and product professionals. Fintech companies also struggle to attract suitably experienced financial services professionals into their businesses. There are a number of suggestions in the study that may assist with this challenge – such as increasing the current EMI thresholds for ‘scale-up’ Fintech businesses to incentivise the best people to join their companies as they grow.
The findings come from a study published by the Digital Finance Forum (DFF), which is a network of the UK’s leading Fintech founders that aims to create real conversations between policymakers, regulators, founders and entrepreneurs. Survey respondents included founders from leading fintechs including Crowdcube, iWoca, LendInvest, Liberis and Onfido.