Financial and Professional Services

The West of England is home to an established financial and professional services sector including international players such as Lloyds, AXA, Royal Sun Alliance, NatWest, and Hargreaves Lansdown.

Together they employ nearly 20,000 people, alongside over 250 other financial and professional organisations generating the second highest density of financial services employment in England, a total of 61,000 jobs across the region.

Banks in the region are harnessing the deep pool of technology and digital skills –many businesses located here have successfully developed innovative financial services models. Cross-sectoral innovation is one of our Local Industrial Strategy’s core priorities, and the benefits of this are evident in our region’s thriving fintech ecosystem.

Fintech and Legaltech

A report on Fintech ecosystems by Whitecap consulting found Bristol and Bath to be home to a higher density of Fintech start-ups and scaleups than any other region researched outside of London. The Fintech start up and scaleup sector is the beating heart of the Bristol & Bath scene, the community is active, joined up and highly collaborative.

There’s a breadth of Fintech solutions in the region, reflecting that the region has strong financial, tech and creative tech sectors, ‘Tech for good’ is prominent and represents a common ethos to business within the region which is something that Fintech companies can build upon. There is a positive and enthusiastic attitude towards Fintech in Bristol & Bath, the sector draws confidence from its proximity to London, with many of our Fintech entrepreneurs having lived or worked in London and having good connections into the ecosystems.

A new report from Whitecap Consulting, conducted with support from key regional stakeholders, has found impressive levels of LegalTech activity, capability and employment across legal service providers, tech firms and LegalTech businesses in the Bristol & Bath region. The report identifies a significant level of LegalTech activity across an established legal sector, including more than 750 tech and innovation roles within a growing cluster of over 30 LegalTechs, tech companies working in the legal sector, and LegalTech arms operating within the region’s law firms. This report is the latest evidence to support the region’s core strength in emerging areas of technology, coming less than two weeks after it was named in the Kalifa Review as one of the top 10 FinTech clusters in the UK.

*Include Legaltech ecosystem info graphic - Credit “Whitecap Consulting Limited”

For further information please visit the Invest Bristol & Bath website.

About Invest Bristol & Bath

Invest Bristol & Bath is the inward Investment agency for the West of England Combined Authority. They support businesses who are seeking to enter the region to grow, innovate and collaborate. The experienced team are knowledgeable and well connected. Through a tailored account management service, they offer a range of free services including bespoke research and provision of regional economic information to support business planning, talent support in accessing and recruiting high quality staff and internationalisation support through invitations to join virtual and trade missions and links to the Department for International Trade.

For further information on Invest Bristol & Bath’s services visit their website or speak to a member of the team on Invest@bristolandbath.co.uk or +44 (0)117 428 6211