Manchester Conference Write-Up
On Thursday the 21st of November, the Northern FinTech community came together for FinTech North’s 2024 flagship finale, the Manchester Conference, hosted in partnership with with The University of Manchester, GFT, Intercash, Mastercard, Rise, Created by Barclays, RSM and AccessPay, showcase sponsors, Keeper Solutions, international sponsors, Madrid Investment Attraction, and promotional partners, MIDAS – Manchester’s Inward Investment Agency.
The conference took place in the University of Manchester’s iconic Whitworth Hall, an iconic venue and a FinTech North favourite with a rich history that continues to lie at the heart of academia, innovation and industry, aligning with FinTech North’s skills mission.
We were joined by around 230 delegates across the day with fantastic engagement from an audience consisting of nearly 30 per cent C. suite delegates and a high number of senior representatives from FinTech and financial services organisations.
Click here to watch the conference.
Click here to view the photos from the conference, captured by Lou Wilcock.
Morning Session 1: Welcomes and Sector Overview
After a vibrant breakfast networking session in Christie’s Bistro, a beautiful old library space at the University, delegates flooded into the Hall for an insightful morning session of content from FinTech North, the University of Manchester, Innovate Finance and CFIT.
Joe Roche, FinTech North’s General Manager welcomed attendees to the seventh-annual Manchester Conference, thanking sponsoring organisations, the University, attendees and the team for their continual engagement, support and collaboration in the community.
He provided an overview of the organisation’s work, strategy and recent activity, before opening the virtual stage to Christopher Sier, FinTech North’s Chairman, who shared a thought evoking pre-recorded welcome message addressing the upcoming implications and challenges for entrepreneurs and founders following recent Mansion House Speech by Rachel Reeves.
Next to share a welcome message was Professor Duncan Ivison, the new Vice Chancellor of the University of Manchester, who highlighted the strength of connectivity and innovation in the region. He touched on the University’s commitment into investing into FinTech and facilitating collaboration between academia and industry.
Following the morning’s welcomes, the content progressed into some national sector overview updates. Peter Cunnane, Director of National and International Initiatives at Innovate Finance provided an overview of the organisation and their aims ‘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 inclusive, more democratic and more effective financial services sector that works better for everyone.’
Peter covered some of the work Innovate Finance deliver to support the sector, including in supporting FinTech, financial services, professional services, and technology institutions, skills in the sector, FinTech as a force for good, EDI, investment and sector growth, regulation, thought -leadership and policy, and global connectivity.
Next, he provided some insights into the current state of the FinTech ecosystem as a whole, noting its overall positivity despite the year’s economic challenges, particularly for businesses and entrepreneurs, drawing on Chris Sier’s prior point. Further referencing the recent Mansion House speech, he highlighted the significance of the mention and acknowledgement of FinTech as a sector in a government speech. Some key themes were on the new national payment vision, increased regulation around fraud and fincrime, open banking, digital lending and AI and its implications on the economy.\
Ezechi Britton MBE, CEO of the Centre for Finance, Innovation and Technology (CFIT) was next, joining virtually with a keynote on their coalitions and the regional ecosystems. He similarly referenced the significance of the recent Mansion House speech and the publication of the government’s National Payments vision, encouraging ongoing work by organisations like CFIT and FinTech North as being pivotal to national recognition, driving innovation, and growth of the UK sector. He spoke on his background in Financial Services and FinTech, and how his personal experiences inform the way he works at CFIT today, understanding the challenges in scaling and innovation.
Calling for a holistic approach in addressing the wide range of issues that impact business and sector growth, he noted ‘We get better together; we need to collaborate in order to drive competition forwards to become stronger and more effective.’
He highlighted the need for ‘action, not words’ in removing these barriers, highlighting the significance of CFIT’s coalitions and task forces in impacting the governments open finance roadmap. Looking forward, he spoke on CFIT’s current task force, tackling an extremely prevalent issue with detrimental economic and business impacts: fincrime and fraud.
Concluding the first morning session, Rachel England, FinTech North’s Events Coordinator came to the stage to thank the audience for joining and bring attention to an important social and sector issue: gender inequality in FinTech, on behalf of Chloe Fox-Robertson, Researcher at The University of Manchester, who was sadly unable to join the session. Click here to read more about Chloe’s completed research, and keep an eye out for her upcoming research over the coming year.
Morning Session 2: Scaling, Data & AI
Following a mid-morning networking session, delegates returned to the Whitworth Hall for a series of keynotes and fireside chats from the conference’s sponsors.
First up was a presentation by Natasha Idris, Managing Consultant and
Bronwyn Francis, Senior Vice President Services, Business Development at Mastercard, focussing on ‘the Road to Profitability and How to Scale Successfully.’
They explored how Mastercard support FinTechs in their innovation and growth journey, providing tailored support across every stage of the fintech lifecycle – from building a concept, launching to market, and achieving sustainable growth. Highlighting a holistic approach, Natasha discussed how Mastercard ensures FinTech’s have the right tools, including risk and fraud management and best practices, to launch successfully. They also shared strategies for crafting sustainable business models, developing go-to-market plans, and attracting investors in a competitive environment. Through initiatives like the Mastercard Success Planning framework and tailored playbooks, they help FinTech’s identify strengths, address gaps, and seize missed opportunities to scale effectively.
Next was a fireside chat, moderated by Katherine Megson, Innovation Manager at Bruntwood SciTech, the UK’s largest property development company, and Anish Kapoor, CEO of AccessPay. The discussion explored Anish’s Manchester-based scaling success story, transitioning from telecoms to FinTech. Katherine started with an introduction, highlighted Bruntwood SciTech’s role in supporting FinTech’s, startups, and scaleups through strategic partnerships, including with FinTech North, and their commitment to fostering innovation from their Manchester headquarters.
Introducing himself and his organisation, Anish shared how AccessPay provides an integration layer between organisations and their banks, streamlining traditionally manual processes for large organisations and institutions. With nearly 400 million transactions processed annually, AccessPay is at the forefront of transforming corporate banking, inspired by the digitisation seen in retail banking.
Reflecting on the company’s 12-year journey, Anish emphasised the importance of calculated risks, stating, “You have to take the bet.” He also discussed key entrepreneurial lessons, including planning for failure, adapting to the evolving VC landscape, and maintaining a vision to lead change in the market.
Continuing with the scaling theme, Kevin Redford, Co-founder of new trading platform, Tripppl, made his FinTech North debut. He provided an overview of their presence in the Manchester ecosystem and market, having received support from MIDAS.
Kevin emphasised challenges within the UK’s scale-up ecosystem, describing it as “broken,” with startups struggling to scale, limited access to corporate finance, and barriers for diverse and female entrepreneurs in securing VC funding.
Kevin introduced Tripppl as a unique stock exchange headquartered in Manchester, targeting science and technology businesses with an exportable business model and multiple revenue streams. He also positioned the platform as a key player in supporting the UK government’s decentralisation agenda, offering innovative solutions to drive regional and national growth.
Concluding the second morning session was a keynote by Alex Richardson, Client Solutions Director at GFT, titled ‘Data & AI: Steam Engine of the Modern (F)Industrial Age?’ Alex began by drawing parallels between the industrial revolution and today’s data-driven era, reflecting on the dramatic changes in social and economic structures brought about by innovation and the challenges such transformations create, such as inequality.
Representing GFT, a global technology consultancy with a focus on modern platform engineering services—90% of which is in financial services—Alex explored whether data and AI are as revolutionary as the steam engine. He highlighted their potential to drive productivity while acknowledging emerging challenges, including environmental impact. Alex also touched on the upcoming EU AI Act, set to take effect in August 2024, noting GFT’s position as one of the first cohorts to prepare for compliance under this framework. Throughout, he emphasised GFT’s commitment to delivering real business outcomes and building trusted partnerships in the rapidly evolving AI landscape.
Afternoon Session 1: Legacy to Modern Tech, Skills, DeFi and Payments
Following a lively lunchtime networking session, delegates returned to the hall. Stefan Haase, Director at Whitecap Consulting was next to the stage; he presented an insightful session titled ‘Reality Bites – Challenges with Moving from Legacy to Modern Tech.’
Stefan explained that the issues surrounding tech debt and legacy systems go beyond outdated technology—they are also deeply rooted in established behaviours. His talk evoked the questions, ‘how can organisations effectively address this challenge, and what is the solution?’
He proposed a structured approach, beginning with selecting the right advisory partners and clearly defining business requirements. Next, businesses should conduct a thorough market analysis and competitive evaluation, including running RFP processes. It’s also essential to establish and apply strong selection criteria to ensure the best possible outcomes.
He closed on a final takeaway: focus on reward rather than risk. While risk is a significant factor in financial services, it should not hinder innovation.
Next was a fireside chat between Silas Ozoya, Talent Upskill Associate at FinTech North, Rachel Kenyon, Business Engagement Manager at the University of Manchester, and Ellie Kirkman, FinTech PR Consultant at Started PR, who facilitated the discussion.
The conversation explored the significant opportunities for individuals to join the FinTech sector. Rachel highlighted that the industry is not discipline-specific, offering opportunities across a broad range of fields. She emphasised the resilience of the sector, its rapid growth, and the variety of roles available, providing a diverse and expansive career path.
Silas discussed the importance of moving from innovation to legacy, noting that as older generations retire, there’s a growing need to build a pipeline of talent to fuel the sector’s continued growth. He highlighted the importance of courses and accreditations, including FinTech North’s ongoing development of a FinTech product manager apprenticeship, in collaboration with a northern university, aimed at preparing the next generation of industry leaders.
The discussion further explored how the University of Manchester is bridging the gap between research and industry through business engagement and knowledge exchange. Rachel noted the university’s focus on developing strategic industry partnerships, including with FinTech North and Innovate Finance, and creating courses that align with business and talent needs.
Following the fireside chat was a presentation by Dr. Aseem Pahuja, Lecturer in FinTech, Management Sciences and Marketing at the University of Manchester on ‘Decentralised Finance in 2024: Trends, Challenges, and Opportunities.’
Aseem discussed the growing toleration of cryptocurrencies, noting its positive impact on their success and value. He introduced the concept of the ‘DeFi stack’ and highlighted a chart depicting ‘total value locked’, illustrating the increasing capital being invested in decentralised finance.
A key point was the issue of transaction confirmations within Decentralised Ledger Technology (DLT), with an average confirmation time of 7.5 minutes. Aseem stressed the need for faster, instant confirmations, pointing out that current systems can only provide some form of confirmation to facilitate transactions.
He also addressed the energy efficiency of DeFi, noting that while it doesn’t consume large amounts of electricity, it remains less capital efficient due to the significant resources required for ensuring security. The presentation also covered the steady growth of DeFi users and the regulatory landscape, with phase implementations on the horizon to regulate stablecoins and lending within the sector.
The next speaker was Eliot Heilpern, CEO of Parthenon Communications, sharing a presentation on ‘The Future of The Payments Landscape: the Key Challenges (2024-2027).’
Eliot highlighted that the entire landscape is undergoing significant changes, with a particular focus on the increasing prevalence of financial crime, including scams and fraud. He stressed that addressing these issues requires recognition technologies and other measures.
Eliot discussed various key topics, including the role of cryptocurrencies, which are becoming more tradeable, and Central Bank Digital Currencies (CBDCs). He explored the challenges associated with cross-border payments and the UK’s development of new payment infrastructure. Open banking and the adoption of the ISO20022 standard were also covered, as was the regulatory landscape surrounding these technologies.
Finally, he highlighted the importance of banks partnering with FinTech’s under a smart city approach to enhance trust and cultural integration within the payments ecosystem.
Continuing the payments focus was a panel titled ‘The Future of Payments 2025-2028,’
with industry experts:
- Vijay Ray, Associate Director, RSM
- Danielle Reed, Head of Partner Success UK North, Klarna
- Andrew MacIntosh, Programme Director – Payments, Barclays Bank
- Professor Markos Zachariadis,Professor in Financial Technology, The University of Manchester
- Matt Oldham, CSO, Suresite
The discussion, expertly chaired by Angela Yore, CEO of SkyParlour, delved into key trends and challenges shaping the future of payments.
Vijay discussed the UK’s national payments vision, highlighting a ‘clear commitment to payments as a critical part of economic infrastructure,’ and identified three core messages: prioritising innovation as a growth engine, the need for greater regulatory coordination, and ensuring global competitiveness for the UK’s payments ecosystem. He stressed the importance of government support and FinTech innovation.
Andrew emphasised the rapid growth of open banking, forecasting a 50% year-on-year increase, driven largely by regulation within the UK. He acknowledged that while open banking isn’t “the” answer, it is a key part of the solution, focused on offering customers choice and convenience. He also noted the growing importance of alternative payment methods and the need to balance innovation with regulation to unlock commercial opportunities.
Danielle Reed, from Klarna, shared insights into the company’s success, attributing it to flexibility, choice, and convenience. She highlighted the broad demographic appeal of Buy Now, Pay Later (BNPL), noting that it’s not just popular among younger consumers but increasingly adopted by over-60s. She also discussed how customer experience (CX) is crucial, with retailers prioritising it to drive loyalty and reduce drop-off rates at checkout.
Matt Oldham, from Suresite, focused on the mobility payments sector and its potential for growth. He pointed out the need for better infrastructure to meet the changing demands of consumers and businesses, especially in the unattended payments space. He highlighted that as mobile payments and unattended transactions increase, businesses can expand their opening hours and boost GDP by allowing payments beyond traditional operating times.
Professor Markos Zachariadis discussed the role of data as a critical enabler in financial services, stressing the importance of innovation in infrastructure and the variation between national and international approaches. He also touched on Central Bank Digital Currencies (CBDCs) and their potential for layered financial ecosystems.
The panel also explored the need for the UK to foster intellectual capital and a skilled workforce.
Danielle highlighted the importance of understanding customer needs, while Matt emphasised the importance of educating businesses and consumers on the role of payments in driving business growth. Angela closed by noting the significance of fostering young talent and encouraging them to pursue careers in FinTech, which she believes will help position the UK as a hub for payment innovation.
Afternoon Session 2: Banking, Scale-up and Startup Support, The Showcase
After the afternoon break, delegates returned for a banking-focusssed session, kickstarted by a panel titled ‘Banking 2035: What does Banking look like over the next ten years’?
The panel, brilliantly chaired by Lillia Bistacchi, Senior Account Manager at Started PR consisted of speakers with a vast array of knowledge and payments, banking and technology industry expertise:
- Sarat Pediredla, CEO, hedgehog Lab
- Ashley Smith, Product Manager, AccessPay
- Anupam Bansal, Founding Partner, Oxygen Consultancy LTD
Ash shared insights into the adoption of emerging technologies like GenAI, cryptocurrency, and DeFi (Decentralised Finance), exploring how these innovations are shaping the UK banking landscape. He discussed the evolution of crypto and blockchain, emphasising AI’s role in transforming banking, and noted that while these trends are significant, the trajectory of AI still requires careful consideration before its application.
Anupam, with over 25 years of experience in banking, framed the discussion through four lenses: customer experience (CX), user experience (UX), regulatory change, and financial technology. He noted how things have evolved, from telephone banking to the advent of online banking, and highlighted the UK’s leadership in instant payments since 2008. Anupam stressed that the sheer volume of data and new technological developments will continue to drive change, but also noted challenges in ensuring the right application of AI and data.
Sarat Pediredla focused on the importance of digital innovation in banking. He introduced the concept of the “uberification of banks”, where banking becomes more streamlined, accessible, and user-friendly through digitalisation. Sarat highlighted that education, financial inclusion, and UX design are crucial for creating banking ecosystems that benefit people, the planet, and profit. While technology is an enabler, he stressed the importance of deploying it sustainably and making financial services accessible to all.
Ash then discussed AI’s role in reshaping the UK banking sector, especially in fraud detection, and warned that as AI and machine learning models become more complex, they could become less explainable. He argued that, while these tools provide invaluable insights, it’s essential to carefully assess if AI is truly the right solution for a given problem.
Anupam also noted that one of the biggest challenges of AI is understanding if models are producing accurate and reliable results, particularly when data crunching can be vast and intricate.
Sarat further explored how global banking lessons can be applied to the UK market, highlighting the challenge of attracting and retaining talent. He emphasised that innovation isn’t just about the latest tech solutions, but also about addressing the needs of underserved populations and focusing on those who are currently excluded from the financial system.
The panel also addressed the balance between collaboration and competition in the industry. Ash stressed that the more collaboration there is between FinTech’s and banks, the faster innovation will occur, and noted that over time, every company will become a FinTech, with embedded finance integrated into non-financial businesses.
The relationship between banks and FinTech’s is key to the future growth of the sector.
Looking ahead, Ash predicted that AI, fuelled by data, will continue to drive the future of banking. Anupam added that customers will have more choices than ever, with greater flexibility to choose between FinTech, legacy banks, and crypto platforms. He predicted that the variety of options will grow significantly.
Sarat wrapped up by reinforcing the importance of sustainability in business. He noted that improving CX and using AI to automate complex tasks will allow banks to focus more on addressing people-related issues and building better relationships with customers.
Next up, following their expansion into the North, were Chloe Williams, Software Engineer and Sam Clarke, Engineering Lead at Starling Bank, sharing a presentation titled ‘Engineering the Future of Finance: Inside Starling Bank’s Tech Innovations.’
The session focused on Starling’s commitment to engineering and tech innovation, and how their approach sets them apart. They shared insights into how the company thinks, what they believe in, and why their methods are successful. For Starling, innovation is viewed differently by everyone, but the company is united by a common passion for creating products they care about. As Chloe and Sam put it, “We are our own customers, and that’s powerful.”
They explained that Starling prioritises hiring people who genuinely care about their work and are dedicated to delivering products securely and responsibly. Autonomy within the engineering team is crucial, as it allows individuals to make decisions that benefit both the organisation and its customers. Trust is a fundamental aspect of their culture, empowering engineers to do the right thing.
Starling also champions diversity and inclusion, recognising that gender balance is a key issue in the tech industry. They highlighted the importance of levelling the playing field, not only within organisations but for personal health and happiness as well.T hey noted that while women currently hold only 10% of senior roles in tech, Starling is actively addressing this gap. They run a female mentorship programme and collaborate with multiple organisations to support the career development of women in engineering.
When discussing how Starling is engineering the future of finance, they emphasised the importance of agility. Starling’s flexible, fast-moving culture allows them to quickly adapt and innovate. They believe in empowering their teams with the freedom to be creative, trust one another, and focus on work that truly matters. Their company culture fosters autonomy, equality, and an environment where engineers are encouraged to “let them cook” – giving them the space to be innovative.
Team leads play a crucial role in guiding priorities on a weekly basis, ensuring the company stays on track while remaining agile. The discussion also touched on the challenges of firefighting, which can be disruptive to progress, and the importance of balancing the need to focus on both the present and the future. By continually evaluating whether they’re prioritising the right things, Starling ensures they remain adaptable and ready for whatever comes next.
Overall, the session offered a deep dive into how Starling Bank approaches engineering and innovation, with a strong focus on autonomy, trust, and agility as key drivers of their success.
Next to speak was Stephen Walsh, CEO and Founder of Keeper Solutions, sponsors of the Manchester FinTech Showcase. In his presentation titled ‘Scaling for Success: Scaling Momnt – A US Fintech from Startup to Success,’ he shared insights into his company and the support they provide to founders.
Stephen explained that Keeper Solutions helps founders develop and scale products, operating as a software development company with an international reach. They have a strong track record, having helped clients create £1.3 billion in shareholder value by scaling and successfully exiting businesses.
He emphasised that Keeper Solutions is deeply committed to the success of their clients, and one of their key success stories is Momnt, now one of the most successful embedded finance organisations in the United States.
Concluding the final afternoon session was a FinTech North favourite, our Manchester FinTech Showcase, a series of lightning-pitch style presentations highlighting all things North West FinTech innovation excellence. We were delighted to be joined by:
- Conrad Adigwe, Director, Innovation and Digital Transformation, Techiefy
- Sarah Gorton, Financial Services, Protect Group
- Andrew Gething, Founder & MD, MorganAsh
- Holly Young, Network Manager, Greater Manchester Business Growth Hub
- James Hamilton, Chief Experience Officer, Mortgage Wallet
- Suz Ferreira, Founder, Proper Financial Coaching
- Eghbal Rahimikia, Assistant Professor in Financial Technology, The University of Manchester
- Jim Fell, CEO & Founder, Credit Canary
As the content drew to a close, delegates came together for a final time in Christie’s Bistro for a prosecco networking reception, celebrating the day’s insights and the regional ecosystem.
We’d once again like to share a massive thanks to our brand sponsors, The University of Manchester, Mastercard, Rise, Created by Barclays, Intercash, GFT, AccessPay, RSM, our showcase sponsors, Keeper Solutions, our international sponsors, Madrid Investment Attraction, our pre-conference sponsors Intercash, our promotional partners, MIDAS and pro-manchester, the team at Whitworth Hall, all of our fantastic speakers, and everyone who attended.
