Award-winning Welsh start-up hosts fintech roundtable with Bank of England

Last week, a range of fintech firms based in South Wales gathered for a roundtable event hosted by award-winning start-up doopoll and the Bank of England.

The first of its kind event to take place in Wales, it saw representatives from the Bank of England’s Agency for Wales learn about the technologies set to disrupt the financial sector.

Fintech is one of the most lucrative industries in technology. According to a report from VBProfiles, companies in the sector have raised more than $105 billion in funding.

And there are thousands of high-growth fintech firms across the globe, and a handful is located in Wales. The event was an opportunity for them to make their successes known.

During the roundtable, delegates spoke about topics such as blockchain technologies, Brexit and issues for Welsh businesses looking to attract development talent to the area.

A number of firms attended, including global digital banking platform Backbase, financial research management company Bipsync and from Wealthify, a Cardiff startup that recently announced a strategic investment with Aviva.

Steve Dimmick, co-founder of doopoll, said: “It was a pleasure to be able to host this event with the Bank of England. Organisations thrive when they understand what’s important to the people they care about.

“And with that in mind, it’s great to see the Bank of England in Wales engaging with the people they care about.”

Ian Derrick, Bank of England Agent for Wales, said: “It was really useful to be able to meet with these FinTech companies in South Wales as part of the Bank’s work to develop connections with a range of technology firms.

“The Bank’s Fintech Accelerator was established in June 2016 to explore how FinTech innovations could be used in central banking. It was great to be able to expand on this and better understand the contribution these businesses make to the wider economy and listen to the challenges they face.”

Michelle Pearce, chief investment officer of Wealthify, said: “doopoll and the Bank of England did a fantastic job at setting up and hosting a great evening, with some interesting conversation around topical subjects.

“It provided a good opportunity to network with like-minded people in a constructive format. I hope we can do it again.”