EY Establishes Fintech Lab in the UK

EY has launched its fintech lab, based in London, with a second one planned in Edinburgh in 2023.

The labs have been designed to collaborate with startups and scale-ups focused on innovation and creating solutions to financial challenges, such as fighting financial crime and financing a sustainable economy. The labs form part of EY's UK fintech growth plans which includes several million pounds worth of investment over the course of the next twelve months.

According to EY's official press release, the new lab will be a dynamic workspace designed for collaboration, experimentation, and rapid test-and-learn prototyping. Fintechs, potential investors, clients, established financial services firms, regulators, and other partners will be able to connect to share information, brainstorm big ideas, and develop real-world solutions to serve markets and customers more effectively.

As fintech is believed to be the future, EY has clear and very ambitious plans to grow their fintech business in the UK. Their objective is to connect fintechs, established financial services players, potential investors, and the official sector and collaborate to bring new products and services to market.

(Source: The Paypers)