Brexit is raising concerns among financial services organizations over the UK’s ability to lure tech talent from the EU in the future:
to delay the deadline, and a deal could still be reached that would give the country's fintechs open access to the EU's financial markets and talent pool.Despite concerns and any impact from Brexit, the UK has a lot to offer as a fintech center and could remain attractive to employees.
London will remain a global fintech hub. Without a deal, companies that need EU passporting rights might relocate, or look at additional banking licenses outside the UK — as is thefor Revolut and Transferwise — but London should be able to maintain its standing as a global, rather than a European, fintech hub. Many fintechs will not need to relocate and could continue to be a good option for prospective employees.
The UK's financial services center is built on strong foundations. While the right talent pool is important for the continued growth of London's fintech sector, other factors also play a key role, such as infrastructure, capital, supportive regulation, and favorable taxation. These additional factors create a fertile operational environment for fintechs and FIs and should not be considerably affected by Brexit.
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