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Motive Insights - All Eyes on UK FinTech

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March 27 · Issue #298 · View online
Motive Insights
All Eyes on UK FinTech
By: Janine Hirt, CEO, Innovate Finance, Innovate Finance
FinTech has continued to grow from strength to strength in the UK, with investment last year reaching new heights. The UK is second in the world to only the US in terms of investment, and ahead of the next six European hubs combined. In fact, even this week UK FinTech firm Credit Kudos, an Innovate Finance member, announced it was being acquired by Apple, further showcasing UK FinTech and the exciting potential of open banking technology in international markets.
All eyes are also on us here in the UK as we celebrate the one-year anniversary of the publication of the Kalifa Review of UK FinTech. This landmark review provided a clear strategy and roadmap set out across five chapters - policy & regulation; skills; investment; international; and national connectivity - to ensure the UK strengthens its support of the FinTech ecosystem and maintains its position as one of the best places in the world to start, build and scale a FinTech. Over the past 12 months at Innovate Finance we have seen strong action taken to implement a majority of the Kalifa Review’s recommendations by the UK Government, regulators and industry, and at Innovate Finance, we believe that now is the time for us to ensure we continue to build on this positive momentum. The Review has also been used as a foundation by countries around the world looking to strengthen their own financial innovation ecosystems.
On the 4th and 5th of April 2022, Innovate Finance will once again host IFGS in-person at the Guildhall in London. As one of the world’s leading FinTech conferences, IFGS 2022 will welcome leaders from across industry, government, and the regulators to debate the most pressing issues facing the sector, and will kick off the official UK FinTech Week, which is supported by HM Treasury, DIT and the City of London. At this 8th edition of our flagship annual conference, the agenda will shine a spotlight on the key trends emerging from across the global FinTech ecosystem, with an increased focus on the critical role financial innovation and FinTech plays in empowering consumers, increasing financial wellness and financial inclusion around the world, and ensuring a more sustainable future for us all.
 
About the Author:
Innovate Finance is the independent industry body that represents and advances the global FinTech community in the UK. Their mission is to accelerate the UK’s leading role in the financial services sector by directly supporting the next generation of technology-led innovators to create a more sustainable, more effective, and more inclusive financial services sector that works for all. The views expressed above are the views of Innovate Finance and do not reflect the views or opinions of Motive Partners. 
To receive a 15% discount on tickets for Innovate Finance’s flagship summit, IFGS, please register here, using the discount code: IFGSMotive22.

Quote of the Week
This week, we were pleased to announce an agreement alongside Clearlake Capital Group to acquire BETA+ from LSEG (London Stock Exchange Group).
 Stephen C. Daffron, Co-Founder & Industry Partner of Motive Partners:
“BETA+, together with our other portfolio companies, will be focused on creating frictionless, digital-first experiences for clients, advisors, and home office personnel with streamlined processes, reduced costs, and increased retention and satisfaction, ultimately making it easier for Wealth clients to obtain solutions which address their financial needs. We’re looking forward to partnering with Clearlake once again to continue our transformation of the wealth management sector at a critical time for the industry.”
Additionally, this week, we were delighted to announce the business combination of Forge (NYSE: FRGE), a leading private securities marketplace, and Motive Capital Corp, a special purpose acquisition company sponsored by affiliates of Motive Partners.
 Kelly Rodriques, CEO of Forge Global:
“Completing our business combination with Motive Capital Corp and becoming a public company is a significant milestone for Forge and for the private market. As a publicly traded company, we see vast opportunities to expand our business and offerings to ultimately create greater participation in private company liquidity for equity holders and investors.”
 Blythe Masters, former CEO of Motive Capital Corp:
“Motive is proud to support Forge on this important day, a day that encompasses years of hard work and steadfast commitment to a vision for the future of private markets. We look forward to supporting Forge on its journey beyond this milestone, which is by no means the final destination.“
Motive Portfolio Highlights
  • Wilshire - Listen to this week’s 10-minute update from Josh Emanuel, Chief Investment Officer, Investment Management for Wilshire, on market performance. Access the update here.
  • InvestCloud - This week the company announced its strategic partnership with Oppenheimer & Co. Inc., an alliance which has enabled the implementation and launch of Oppenheimer’s Investor Gateway, an enhanced, intuitive and cloud-based wealth management platform. Read more here.
Upcoming Industry Events
Select M&A Activity
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Source: FT Partners
Source: FT Partners
What We're Reading This Week
Apple Buys Credit Kudos, UK Data Tool for Lenders
Third-Party Seller Admits to Fleecing Amazon
Indonesian E-Grocery Startup Sayurbox Raises $120 Million In Series C Funding
Thoma Bravo to Buy Anaplan for $10.7 Billion
Climate tech companies in the spotlight as SEC votes on new ESG disclosure proposal
EPI abandons plan for Visa and Mastercard rival as member banks quit
Philippines’ Ayala Corp. To Raise $1 Billion From Non-Core Asset Sale
DC Sues Grubhub for Deceptive Practices
Robinhood Replaces Cash Management With New Cash Card
Amazon Touts Alexa, Echo as Whole House Communication Tools Handling More Tasks
InvestCloud works with Oppenheimer on digital wealth platform
Peloton recaps Grenova
Reach secures $30 million investment
Better & Better Grabs $4M for Vitamin-Infused Wellness Line, Retail Expansion, Growth
Equitable Bank expands life insurance lending program with addition of Equitable Life as partner insurer
Regulation, Protection & Privacy
Regis-TR receives UK Emir license from FCA
CoinZoom Launches CoinZoom Cash
How To Read The SEC’s Milestone Proposed Climate-Related Disclosure Framework
SECURA Selects Betterview to Improve Risk Mitigation
Key Hires & Talent
Capital Square promotes Stifel to C-suite
Digital River Announces Ex-Airline Exec Keith Bush as CFO
Searchlight taps Fuller as operating partner
Food for Thought
“The more I want to get something done the less I call it work.”
~Richard Bach
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