IA Engine sets out a path to boost innovation in investment management as it launches its ‘Blueprint for Fintech Engagement and Onboarding’

London, 29th April 2024 - The latest whitepaper from IA Engine, the Investment Association’s FinTech hub, aims to equip the investment management industry with the skills and understanding to unlock the transformative power of FinTech. 

The UK investment management sector is a world-leading international hub, managing £8.8 trillion, second only to the US. UK FinTech is an equally significant market, with an impressive $12.5bn invested into FinTech in 2022 – and a continued focus on growth in 2023, with the launch of the UK’s Centre for Finance, Innovation and Technology following the Kalifa Review.

The escalating digital demands of clients and investors have made innovation central to the future of the industry. Over three-fifths (62%) of today’s 18–24-year-olds are already investing, and over half (57%) use apps to invest. With a record £5.5 trillion set to be transferred between generations over the next 20-30 years in gifts and inheritance, now is the time to adapt to meet the changing needs of the UK market.

Advancements in technologies such as blockchain, artificial intelligence (AI) and satellite technology provide significant opportunities within all aspects of the investment value chain. Firms that fail to adapt risk losing their competitive edge and market share to more disruptive and efficient firms. 

The Blueprint for Fintech Engagement and Onboarding demonstrates the positive impact FinTech could have industry-wide on efficiency, consumer outcomes, and resilience. It offers advice for both investment managers and FnTech firms to work together successfully, including clear engagement strategies, partnership advice and industry analysis.  

Gillian Painter, Head of Membership and IA Engine, said: “Innovation is key to ensuring that we remain at the top of our game. Collaboration with FinTechs is the linchpin for fostering the kind of innovation firms need to thrive in this competitive and evolving environment. Engine’s latest Blueprint offers a holistic understanding how investment managers and solution providers can work together to ensure that the UK maintains its position as a leading global hub for both innovation and asset management.” 

The whitepaper was created in collaboration with 28 investment management firms that sit on Engine’s Advisory Panel as well as firms from Engine’s FinTech Growth Panel. It uses the real-world experiences of those at the forefront of each sector to provide a holistic overview of how they can best work together and deliver tangible benefits across the industry. 

Notes to editors 

Click here to read the full paper on the Blueprint for FinTech Engagement and Onboarding.

For further information, please contact: 

Helen Ayres, Head of Communications: [email protected]

T: +44 (0)20 7269 4620

Ellen Hodgetts, Communications Manager: [email protected]

T: +44 7548841289

Ismail Abdi, Communications Executive: [email protected]

T: +44 7596 872575

IA Press Office: [email protected]

About the Investment Association (IA):

  • The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £8.8 trillion of assets and the investment management industry supports 126,400 jobs across the UK.
  • Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital.
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.

About Engine:   

  • Engine is the Investment Association’s FinTech hub, launched in 2018. 

  • Engine’s mission is simple: To fuel the adoption of technology within investment management, for the benefit and changing needs of clients. 

  • We’re working with 150+ FinTech firms and partners across the investment value chain to open tech-driven possibilities and solve the challenges faced by investment firms, both big and small.