Manchester’s burgeoning status as a premier fintech centre was unmistakable at the latest S&W round table, hosted at the impressive rooftop meeting room in the Gilbanks office in Manchester, where industry leaders from startups, banks, investment networks, and consumer finance gathered to discuss ambition, innovation, and the city’s vibrant ecosystem.
Manchester’s Fintech Ecosystem and Ambition
Ray Law
Ray Law, Co-Founder and CEO of Money Happy, summed up Manchester’s growth: “The growth of FinTech in Manchester exceeded £2 billion in regional revenue… it’s not just London as a powerhouse in FinTech anymore.”
Deborah Walker, who recently joined the Manchester Building Society from inward investment agency MIDAS said she saw opportunity in the city’s mix of tradition and progress: “I’ve been invested for the last five years in the FinTech community… now, we’re bringing the Manchester Building Society brand back to the city.”
Deborah Walker and David Levine
David Levine, of Manchester Angels, put the challenge plainly: “Sophisticated investors don’t give a toss where somebody is… it’s about ambition.” However, he issued a challenge, saying, “sometimes, we’re not ambitious enough.”
Tom Cross, Product Director at Money Wellness, emphasized the collaborative spirit driving Manchester’s fintech sector: “What’s exciting here is how everyone’s focused on improving the customer experience — whether it’s through new apps, digital services, or the way we share ideas. Manchester gives us the space and energy to really innovate.”
Building Businesses of Scale and Attracting Talent
The city’s draw for talent and its capability for scale were recurring themes. “Manchester has a fertile ground for fintech,” noted Gary Fenemore (Tax Director, S&W). “You have really good talents who cannot afford to live in London but are attracted to Manchester. There’s just so much to go at.”
Vix Layton (PR, Think Money) reflected on her move north, having seen similar clustering in South Wales where Admiral insurance spawned several financial businesses: “I had a few dark years in London, but I’ve now moved up north to where it’s all happening, working with the financial media, the BBC and Channel 4 moving here has been really important for us. it’s been a really exciting time.”
Richard Faulkner
Richard Faulkner (HSBC Innovation Banking) emphasised regional advocacy: “I’m an absolute advocate… My role is to make sure we’re on the streets in the regions, helping fast-growth innovation companies succeed.”
Tim Potter (Head of Product, Think Money) drew parallels from other fintech hubs: “It’s the same formula each time – having those raw ingredients, which Manchester certainly does, then you need to take advantage in the right way.”
Transformation in Financial Services: Literacy, Accessibility, Open Banking, and Regulation
The conversation delved into the rapid modernisation of financial services and some of the problems that different guests were working on. Ray Law stressed the importance of education: “Our first product and horizon is to get financial literacy out there to everyone, focusing on how we consume both content and media.”
Tim Potter, a product manager at Think Money championed the rise of open banking: “The adoption is growing at quite a significant rate… We’re seeing like 40% growth year on year in that space. It should make payments a much friendlier experience for consumers.”
Tom and Tim
David Fort (S&W) brought a generational perspective: “My son’s just started as a grad at Santander in London, and already the way he thinks about budgeting is completely different to mine. The product they offer to support financial well-being is nothing like the banking I knew when I started out—it shows just how quickly things are changing, especially for the next generation coming into the industry.”
Attention also turned to regulatory hurdles. “UK specifically feels very anti-innovation, it makes it difficult for fintech founders to scale a digital banking proposition,” Tim Potter explained, referencing Revolut’s well-publicized challenges.
Tony Cheetham (Odd Sphere) reflected on his fund raising journey for Shipster and his previous experiences building a white label platform for credit unions, “The UK investors we spoke to wanted a lot of control… We couldn’t agree to the terms. It would have been nice to have someone say, ‘You’ve got plans for what you want to do… we’ll invest the money.’”
Face-to-Face Value and Real-World Impact
Deborah Walker cautioned not to overlook the value of traditional support: “Regardless of how sophisticated AI will get, there will always be a need to have conversations with people face-to-face.”
Ray Law and Deborah Walker
Gary Fenemore echoed the importance of accessibility and risk: “As long as you agree the bank will give it back if I mess up, I’m okay with the risk—but the day you say no, I’ll have to be more careful.”
The session closed with a note on diversity and opportunity: “We’ve worked hard as a city region to create a level playing field so young people can come into professional roles who are not from traditional university households,” Walker summarised.
As the group tucked into “butties” and the conversation flowed from food to the future, the optimism in the room was unmistakable. Manchester’s fintech community is ready to compete — on ambition, on scale, and on the world stage.