Technology for financial services in the UK

An Expert's View about Financial and Commodity Markets in the United Kingdom

Posted on: 31 Aug 2010

The UK is one of the world’s largest centres for financial services, with substantial activity in all sectors of banking, insurance

Technology for Financial Services The UK is one of the world?s largest centres for fi nancial services, with substantial activity in all sectors of banking, insurance and asset management requiring investment in sophisticated and robust communications and IT systems. Financial Services Access to Talent and Technology The success of the fi nancial services sector is Over 27% of UK jobs are ICT-related, one of underpinned by technology to support the trading the highest in the world. A key challenge and platforms, contact centres and data centres opportunity for the sector is exploiting the rapid of global businesses. The banking, insurance evolution of technology. The UK, having three and asset management businesses are major of Europe?s top fi ve Technology Universities and users of technology investing, in the case of many other world-class Research and Teaching equity traders, as much as 25% of revenues ? Universities as well as an extensive industry around £2 billion per annum ? in analytical and ecosystem, is well positioned to respond to the visualisation software and systems. Autonomy, talent and technology challenges. Examples a rapidly growing UK software player, is a major of world-class research strengths include: contributor of technology to support improved information security; intelligence management; governance and risk management. network security; and search technology. Overall some £6 billion is invested in ICT Technology Financing technology by the sector each year to secure The UK venture capital market is the largest in the and enhance the UK?s world leading position EU, accounting for 40% of European fund-raising, in international fi nance. and second only to the US globally. The economic impact of the private equity industry is substantial Value Chain and is continually growing. Supported at one end Contact centres, fast networks, distributed by networks of Angel fi nanciers and at the other data centres, decision support software and by Public Markets, raising fi nance to support security software are all key elements of the robust business propositions is rarely an issue. fi nancial services value chain. These elements allow a signifi cant amount of retail transactions, In addition, a large amount of Government real-time replication onto several sites, ultra-fast R&D spending is focused on ICT research and equity trading, valuation and risk assessment Knowledge Transfer Networks help to stimulate and corporate governance and integrity collaborative R&D between academia and analysis respectively. industry in UK and internationally. ? With our new broker-dealer in Europe, SunGard can provide US and European customers with one access point to nearly 100% of displayed liquidity. This will help customers achieve best execution at a reduced cost.? Raj Mahajan President of SunGard?s trading business Published Month Date by UK Trade & Investment For further information please visit www.uktradeinvest.gov.uk Crown Copyright URN 10/893 Image: Tech for Finance
Posted: 31 August 2010

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