Share of £2.5m secured to improve FinTech education

A share of £2.5m has been granted to Colleges West Midlands in an effort to improve FinTech educational opportunities across the region.

The strategic partnership of 18 colleges, has been supported by Birmingham-based SuperTech, the UK’s only body dedicated to the greater adoption of technology in professional and business services, as well as BMet, home of the Greater Birmingham Professional Services Academy.

Funding has been provided by the Department for Education’s Skills Development Fund, with support from fintech insight specialists Whitecap Consulting.

The initiative will see colleges engage with SuperTech and major financial firms including BNP Paribas Personal Finance, Wesleyan and Paragon Bank to develop new industry focused FinTech courses.

Last year, Kalifa’s Review of UK FinTech presented Birmingham as a major FinTech hub. Independent research firm White Cap Consulting in 2020 revealed that the West Midlands FinTech sector contributes £411.7m GVA to the regional economy and employs 7,377 people.

SuperTech and BMet, are now looking for further FinTech and financial services firms to feed into the creation of short courses.

Hilary Smyth-Allen

Hilary Smyth-Allen, SuperTech executive lead, said: “FinTech is one of the regions fastest growing sectors, with a high number of scale up businesses. To attract further investment and ensure firms can continue to grow we need to ensure we are upskilling the workforce.

“This strategic partnership will create courses that are closely matched to the needs of businesses to help fulfil high value jobs and provide opportunities for West Midlands citizens.”

Suzie Branch-Haddow, vice principal for external development at BMet said: “This is a transformational opportunity for us in the further education sector. Leveraging innovation funding, we are developing new programmes to meet the needs of the thriving FinTech sector both in the region and across the UK.

“All of which helps to underpin further education’s vital role in supporting regional business growth.”