December 30, 2015
London is known to be one of the world's hubs of innovation with a wide range of well-known disruptive startups coming from the UK's disruption center. Along with Silicon Valley and New York, London is a place of tremendous opportunities for bright entrepreneurs. In last five years, out of $9.8 billion of investments in FinTech across the European region, 55% are invested in UK FinTech. Last year, $66 million were invested in London FinTech, making it the third leading financial technology location worldwide after Silicon Valley ($1.5 billion) and New York ($600 million).
London FinTech has been quite active with global events taking place in the European innovation hub. Earlier in December, TechCrunch Disrupt 2015—one of the world's biggest tech events—resumed in London.
Another notable event took place in London at the beginning of December—unBOUND Conference. The two-day unBOUND London is UK's most exciting innovation festival which connects leaders, brands and growth-stage companies from digital ecosystems around the world. Aimed to foster innovation, the festival gathered entrepreneurs, brands and global corporations with disruptive technology and creative insights to explore new opportunities. One of the most exciting announcements at the conference came from Barclays; the bank unveiled Launchpad—the first financial service in the UK that gives Barclays customers the opportunity to try out and give feedback on new features and app ideas, helping shape the future development of digital solutions for the bank.
In November, full-stack mobile-first smart bank Mondo announced the distribution of 500 Mondo Alpha cards to users in London. Anyone in London who was at least 18 years old could sign up for Mondo Alpha cards. Through this pilot, Mondo wants to launch the prototype to a small group of people to see how people will react to it and use it.
London is one of the most advanced cities when it comes to innovation adoption. Elimination of tickets and contactless payments adoption rates are speaking in favor of it. Transport for London (TfL) passengers can travel using contactless payment cards across the Underground and most of the other London transport. Nearly 50% of London's population already has contactless debit or