Fintech Founders Summer Survey 2022

Fintech Founders is a membership group for founders of fintechs, centred around the UK. Henham has provided the secretariat and support for the group since 2018. As part of this, every year the group runs an annual survey to take stock of how founders feel about the sector and environment in the UK. Each year’s survey, alongside the questions asked every year, looks at a specific issues facing fintechs as well. In 2022, that issue was cryptocurrency. 

The 2022 Fintech Founders Summer Survey revealed growing concerns among UK fintech founders regarding the country’s global position in the fintech sector. Confidence in the UK as a world leader in fintech had dropped, with only 38% of founders still seeing it as such. Key challenges included access to funding, which 40% of founders cited as a major hurdle, and regulatory complexity, mentioned by 30%.

Despite these obstacles, 91% of founders remained confident in their own businesses. However, their dissatisfaction with the broader UK environment was clear. Many fintech leaders expressed frustration over the lack of government support, particularly in fostering innovation and creating clearer regulatory frameworks. This was especially important for emerging technologies like cryptocurrency and blockchain, which 58% of founders saw as opportunities for growth. However, regulatory uncertainty continued to hold back progress in these sectors.

Additionally, while the fintech sector was increasingly adopting digital tools, founders were concerned about the UK’s ability to keep up with rapid advancements in technology. The combination of funding difficulties, regulatory issues, and a perceived lack of governmental support led many to question whether the UK could maintain its leadership in the fast-evolving fintech landscape.

Fintech Founders uses the results from the survey to inform its work with policymakers, regulators, and politicians. Using Henham’s expertise as a public affairs consultancy, the group works to make sure the voice of founders is heard by the right people.