Kicking off the Year of the Horse, I’ve been getting into stride with clients, prospects, and partners as we map out 2026 ambitions – and the energy building across conversations signals a fast-paced year ahead.
That same momentum is clearly flowing across the greater fintech ecosystem too. I’ve been spending time with partners, getting closer to the pulse of the industry and joining many of their events, today is no exception – we’ll be heading to the Innovate Finance ‘Kalifa Review: Five Years On’ event to understand how our industry has evolved since Sir Ron Kalifa, OBE, challenged the UK to secure its fintech crown.
On the coaching side of things, we have just completed the next round of pitch coaching with the Investment Association’s Engine cohort, working with amazing entrepreneurs to help them tell and deliver a compelling story to a panel of industry judges.
In coaching, we are often asked what the key elements for success are. While there are a few, a strong pitch is front and centre. Our own Andrew Dunn has looked at what entrepreneurs need to do, to succeed in a shifting investment landscape.
At the same time, company culture is key to success. No longer a simple perk, it is now an operating system. Purpose now outcompetes pay as a talent magnet. Leadership is shifting from command to coaching. And while technology enables scale, human connection remains central to retention, resilience and long-term value creation. You will find a blog from me on this further down.
If you have any questions about our insights, what we do for clients or the services we offer, please do get in touch. We always love to hear from you.
Wishing you all a happy, healthy and prosperous Year of the Horse.
Kind regards,
Ian Stirling, Deputy CEO
In my latest blog I reflect on insights from the Founders Unfiltered 2 report and why the “people agenda” is the real determinant of fintech scale. For founders navigating growth, the message is clear: professionalise your people infrastructure as deliberately as your technical stack. Because in fintech’s next phase, competitive advantage won’t come from code alone – it will come from culture, leadership and the teams behind them.
UK market at close: where does liquidity lie?
Closing auction volumes as a proportion of total lit trading rose from 33% to 42% for UK equities. But even though the primary listing exchange is the single source of truth for the closing price, up to 20% of trading activity at the close happens away from the primary, as competing venues like MTFs and SIs provide liquidity pools that cannot be overlooked. BMLL’s Quant Analyst Anantya Bhatnagar explains.
ClearToken Strengthens Senior Leadership
Mark Williamson has been appointed Chief Commercial Officer to lead Product Management, Sales & Marketing, and Strategy, and Chris Smith assumes the position of Chief Operating Officer, leading the Group’s operational delivery and execution. The news follows the recent appointments of Kristi Tange as Group Chief Risk Officer and Clare Weaver, MBA, as Chief Legal Officer.
Droit Launches Decision Decoder
Decision Decoder is an AI-powered tool that helps streamline the regulatory review process and empowers operational teams with an enhanced understanding of regulatory decisions. It combines the explanatory power of generative AI with Droit’s unique decision logic, bringing greater efficiencies to operations and compliance teams worldwide.
Africa 2050: Priced to Perfection?
ISI Markets released some startling insights looking at how Africa is faring on its road to 2050, and whether it’s mortgaging its future to pay for its present. Investors are betting on a $29tn future while ignoring 2025’s immediate red flags. But with yields hitting double digits, the cost of the “bridge to 2050” may be the very thing that breaks it.
Why 2026 is the Year of the CSA
The UK and EU are nearing a major shift toward CSA-funded research budgets. Mike Carrodus, CEO of Substantive Research, explores how asset managers can navigate this transition, focusing on four key pillars: maintaining governance, protecting access during market volatility, ensuring global competitiveness, and demonstrating clear value to asset owners.
2026: The Year of Regulatory Divergence
Following the marathon of the EMIR Refit, the CFTC Rewrite, and the JFSA updates, there was a common hope that the industry had earned a quiet period. But the narrative emerging for 2026 is not one of stability but one of divergence. Regulators in the UK and EU are both discussing simplification, yet they are pursuing it in incompatible ways. Marc Gratacos explains.
In his latest blog, Practice Lead Andrew Dunn explores the shift in Fintech investment towards a ‘flight to profitability.’ Looking at the latest research, he examines why sustainable profit, regulatory maturity, and elite leadership are now the essential benchmarks for founders seeking to raise capital in 2026.
Five years ago, the Kalifa Review set a bold vision for UK FinTech. It aimed to strengthen the ecosystem, support scaleups, and attract global investment. This evening, industry leaders will debate how far we have come and what we must focus on next. We look forward to the debate and will share our insights over the coming days.
Adoption Continues in the Workplace
Deloitte’s latest enterprise AI research indicates that worker access to sanctioned AI has surged by 50%across the world over the last year, with ‘agentic AI’ usage poised to rise sharply in the next 24 months. However, the report also warns of a looming governance gap, as only one in five companies currently have a ‘mature model for governance’ of autonomous AI agents.
As the adoption of AI in the City continues to grow, the FCA disclosed that it is spending up to £2 million per year to provide AI tools to its workforce. The regulator has been using Microsoft Copilot as its AI platform since 2024.
AI Fuelling Uptick in Cyberattacks
IBM’s latest cybersecurity research highlights a 44% rise in attacks targeting public-facing applications, driven by the growing use of AI in planning and executing cyberattacks. AI is being used by criminals to pinpoint fundamental security vulnerabilities with greater speed. The report suggests that the evolution of multimodal AI models will lead to the automation of yet more sophisticated operations.
Musk’s Seismic Merger
Elon Musk merged his businesses SpaceX and xAI, the creators of the Grok LLM, in a deal creating a company valued at a staggering $1.25 trillion, the largest corporate merger ever recorded. The consolidation aims to create a vertically integrated powerhouse capable of supporting space-based AI data centers, setting the stage for an IPO expected in early summer.
M&A Increasingly Fuelled by AI
McKinsey reports that AI has entered its ‘industrial phase,’ shifting from experimentation to a strategic driver of global M&A. As investment scales, firms are moving beyond simple synergies to look for ‘capability-driven’ acquisitions that secure infrastructure, proprietary data, and specialised talent.
Meta and OpenAI Fish for Chip Deals
Meta announced that it has agreed to a $60 billion deal to purchase AI chips from AMD, with Meta acquiring 10% of the chip manufacturer as part of the transaction. This is extremely similar to a deal that AMD signed with OpenAI late last year, and follows closely on from both Meta and OpenAI signing chip supply deals with Nvidia earlier, although the terms of OpenAI’s deal with Nvidia have recently evolvedinto a $30 billion investment by Nvidia in OpenAI. The ‘circular’ nature of some of these industry deals are heightening concerns amongst analysts that a ‘bubble’ is growing in the sector.
Nvidia also announced record revenues of $215 billion in its latest earnings announcement, and is currently the largest publicly traded company with a Market Cap of $4.8 trillion.
Ads Come to ChatGPT in the US
OpenAI has begun testing with advertisements for U.S. users on Free and Go tiers, ensuring sponsored content remains visually distinct from organic answers. Advertisers cannot access user chats or details, and the trial excludes sensitive topics and users under eighteen years old. Participants can manage data preferences or opt out of personalised targeting through their account settings.
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