Andrew Jenkins, Director of mobility data and analytics company Arity, has today (Friday 4 October) been appointed as the governments new Fintech Envoy for Northern Ireland.
Fintech is one of the fastest growing sectors in the UK economy, and Northern Ireland is increasingly recognised as an important destination for new development and investment in Fintech, with over 36,000 people employed in the financial services sector.
Mr Jenkins will become the lead ambassador for Northern Irelands thriving Fintech sector, promoting it as a place for firms to develop and grow their business. The appointment, made by the Economic Secretary to the Treasury, John Glen, underlines the UK governments unwavering commitment to the Union as the UK prepares for Brexit, as well as promoting Northern Ireland as a great place to do business.
The Economic Secretary to the Treasury, John Glen, said:
Fintech is vital to the future of financial services, and we want every corner of the UK to be able to harness its power.
I want to congratulate Andrew on taking up his new role as Fintech Envoy, where he will play a critical role in helping the sector to grow and flourish in Belfast and beyond.
I have no doubt that he will build on the success of the existing envoys in ensuring that we remain a world leader in Fintech and at the cutting edge of the digital revolution.
Fintech Envoy for Northern Ireland, Andrew Jenkins, said:
I am honoured to be chosen as the Fintech Envoy for Northern Ireland, where I will collaborate with the sector here to harness our incredible potential to lead the region and beyond in Fintech expertise and offerings.
I will work to bring together business and civic leaders to invest in leading edge technologies and applications, focusing on emerging capabilities in blockchain, artificial intelligence and data security, to further grow the sector in Northern Ireland.
Our mandate as part of the UK Fintech strategy is to capitalise on what we have already have in place here in Northern Ireland. With strong government support, close collaboration between big companies and start-ups and a world class workforce, Northern Ireland has the potential to become the best place in the world to start and build a Fintech company.
Financial Technology or Fintech refers to the new innovations made in financial services which are giving people greater choice and control over their finances. This includes areas like digital banking, payment technologies, peer-to-peer lending and crowdfunding platforms.
Mr Jenkins has more than 20 years of experience in the technology sector, including the financial services, utilities, insurance, telecoms and transportation sectors. In his current role at Arity, a company founded by The Allstate Corporation, he leads work to harness mobility data to create more relevant and safer mobility experiences for everyone. He will take over the role from Georgina OLeary, who was appointed to the role in May 2018.
He will join the current envoys based around the UK in championing the power of Fintech:
- David Ferguson, CEO of Nucleus Financial, and Louise Smith, Head of Intelligent Automation at RBS (envoys for Scotland)
- David Duffy, CEO of CYBG (envoy for England)
- Chris Sier, Chairman of Fintech North (envoy for the Northern Powerhouse)
- Richard Theo, CEO of Wealthify (envoy for Wales)
Fintech is the apps, computer programs and other technologies that support and improve how we bank and access finance. It encompasses innovation in financial services such as crowdfunding, e-banking, payment technologies, peer-to-peer lending, and cryptocurrencies.
Fintech is one of the fastest growing sectors in the UK economy, contributing nearly 7 billion to GDP and employing 76,500 people across the country. The UK has been independently ranked as the worlds leading hub for Fintech the best place in the world to start