The FinTech Impact Report: Working through the world’s to-do list #FinTechforImpact Foreword A bold and honest outlook on the impact of FinTech In today’s dynamic financial services landscape, the blueprint on how that impact can be amplified across FinTech sector stands as a beacon of innovation and key challenge areas. positive transformation. Already significantly contributing to economic growth and employment By quantifying the FinTech sector’s impact, our hope is across the UK, the sector has also demonstrated over that we will enable key decision- and policy-makers the past decade its commitment to creating solutions across government, industry, regulators, and the private for other critical societal challenges – from the financial and public sectors to ensure the right solutions are crash of 2008, to the COVID-19 pandemic in 2021, to the being developed to support the growth of this thriving challenges afforded by the current cost of living and ecosystem. climate crises. As we face the global challenge of meeting the United As the UK FinTech industry continues to move from Nations’ 17 Sustainable Development Goals (SDGs), it is strength to strength, we wanted to find a way to critical – now more than ever – that we better measure the incredible impact the sector has already understand and harness the power of FinTech to drive made, and truly understand the potential that lies before forward progress and solutions across these priority it to bring even greater positive benefit to our world - to areas. This report assesses such impact as identify where and how FinTech can continue to comprehensively and effectively as possible, measuring contribute towards mitigating national and global over 500 FinTechs and traditional financial institutions in challenges that affect us all. how they contribute to the SDGs. This report aims to do just that – assessing and I hope the findings in this report inspire further action to analysing how FinTechs are delivering for the UK across accelerate the continued positive growth of our UK the areas of People, Planet, Place, Productivity, and FinTech sector - a sector which I believe is truly Peace, and where the gaps remain. It delves into the transforming financial services, and the world, for the impact the sector has made to date, and offers a better. Janine Hirt, CEO of Innovate Finance 3