The FinTech Impact Report: Working through the world’s to-do list #FinTechforImpact Our approach to analysing the UK FinTech sector Given the difficulty of identifying nascent and emerging companies, especially where they are privately owned or rapidly growing, historically many smaller FinTech firms have remained unidentified in assessments of the UK FinTech sector. To address this gap and 513 FinTechs selected for impact analysis enable greater understanding of this evolving sector’s true scale, an innovative and unique data set for UK FinTech was created by The Data City (TDC) according to their method for proprietary datasets called Real-Time Industrial Classifications (RTICs). In collaboration with sector experts from Innovate Finance (IF), TDC first leveraged University of Cambridge Centre for Alternative Finance’s classification system from their Cambridge FinTech Ecosystem Atlas102 to establish FinTech taxonomies across 14 sector vertical classifications. Then, using AI, web-scraping and machine learning techniques, TDC identified and grouped UK companies considering their website text and validated the resulting list with IF*. From this dataset, a representative subset of over 500 of the most significant UK FinTechs were identified for deep analysis against the UN SDGs by Vested Impact. These firms were selected firstly in terms of the top revenue generators, and secondly in terms the most recently incorporated. In addition, 15 of the largest established UK FIs were also selected Top UK FinTechs incl. Revolut, Starling to provide a comparison to the FinTech sector. 293 based on revenue generation & growth Bank, GoCardless, 10x Banking, etc. Vested Impact went on to quantify the outward impact of each of these companies on the Emerging FinTechs incl. Cogo, ApTap, Bud world’s greatest challenges, leveraging 300 million science-based data points to 220 incorporated in the last 5 years and PrimaryBid, etc. automatically assess and quantify the impact of the companies and their investments in the form of a ‘Net Impact Rating’ (NIR). The findings of this analysis have been played back We also assessed for comparison: across the 5 summarised categories for the SDGs of people, planet, place, productivity incl. Barclays, HSBC, and peace. 15 Established Financial Institutions Lloyds, NatWest, etc. *There are some limitations in the data as some companies may not operate exclusively in a particular sector. However, all reasonable endeavours have been taken to ensure that this is as representative a view as possible of the FinTech industry. 58 58