Barclays Opens Europe`s Biggest FinTech Site

Barclays Opens Europe`s Biggest FinTech Site

UK lender Barclays has announced it has opened a new fintech center in London. The new fintech space will be focused on discovering new business oppor

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UK lender Barclays has announced it has opened a new fintech center in London. The new fintech space will be focused on discovering new business opportunities that can change the future of financial services.

Rise, created by Barclays, brings together from across the world a carefully curated community of FinTech startups, along with our corporate clients and other experts, to work on Barclays’ customer and business opportunities and together help to create the future of financial services.”, as Barcleys explained in their press release (available at newsroom.barclays.com).

Rise is said to be a global platform to scale and innovate with FinTech companies. In 18 months, Rise has completed over 70 deals between Barclays and FinTech companies.

“We believe that technology must be a core competency of a global financial institution, and we intend to be a leader in the industry.  Last week we announced the creation of 750 new jobs in our UK technology centres.”, said  Jes Staley, Barclays Group Chief Executive who hosted the opening event.

“FinTech startups are at the front of the technology wave that is changing our industry. Through Rise, we glean important insights; we can actively experiment with emerging technologies, and we can spot early trends and new markets as they form. This allows our employees, customers and clients to do things faster, better and at lower cost.”, as he added.

While London has a well-established position as a leading financial hub in Europe, it remains to be seen whether things will change after the UK leaves the EU in 2019. Other big cities like Paris, Berlin and Dublin can possibly steal the top spot from England`s capital.

Despite of this possibility, it`s hoped that leading lenders like Barclays may keep the talent in the UK.

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