The key problem being addressed is the persistent skills gap in the FinTech sector of Northern England. As the industry grows rapidly, there is an increasing need for qualified professionals who are equipped not only with theoretical knowledge but also practical skills relevant to FinTech operations. Despite the region's potential, many students and early professionals find themselves disconnected from the industry. This initiative will combine training initiatives, resources, and partnerships to create a streamlined pathway for these individuals to enhance their employability and meet the demands of regional employers.

The UK FinTech market is valued at approximately $11 billion and projected to grow at an estimated CAGR of 25% over the next five years due to ongoing digital transformation in financial services. This growth is driven by increasing consumer demand for digital banking solutions, investment in technology by traditional banks, and favorable regulatory environments which promote innovation. In the North of England specifically, cities like Manchester and Leeds are emerging as significant FinTech hubs, influenced by factors such as access to finance, talent pools from local universities, and collaborative ecosystems like FinTech North. The demand for skilled labor is surging as firms scramble to hire talent, leading to a forecasted skills gap that this project aims to address. The total addressable market of skilled professionals required in the FinTech sector is estimated to be in the thousands annually, presenting a compelling opportunity to provide structured training to meet this need. The regional framework also supports the ambition to drive international trade in FinTech services, further expanding market dynamics.

The FinTech Skills Catalyst project is poised to take advantage of the ongoing digital revolution accelerated by the pandemic. As traditional financial services pivot to enhance their digital infrastructure, there exists a significant demand for professionals skilled in emerging technologies and industry standards. The project seeks to harness local universities and technical institutions to co-create course content that’s relevant and addresses specific regional economic needs. Partnerships with local businesses that act as training providers will ensure that the learning experience is grounded in real-world applications, maintaining participants' engagement and enhancing job readiness.Moreover, technology advancements such as AI and blockchain will be incorporated into training modules to ensure participants are well-versed in the latest FinTech trends and innovations. Emphasizing partnerships, the project will collaborate with industry leaders for guest lectures, mentorship programs, and internship opportunities for participants, creating a pipeline from education to employment.The project also aims to capture the interest of policymakers and educational leaders, advocating for the sustainable integration of FinTech training into the existing curriculum of local educational institutions. Engagement with community stakeholders will ensure the program remains responsive to local economic conditions and workforce needs.By bridging the skills gap in Northern England’s FinTech sector, this project stands to create a sustainable talent pipeline leading to economic development, social mobility, and innovation. It positions regions like Manchester and Leeds not only as FinTech hubs but as leaders in the delivery of FinTech education and workforce development, effectively transforming the Northern economy and contributing to the overall UK's digital transformation agenda.