The 2016 Fintech Finance 35: Lawrence Wintermeyer

Innovate Finance, an association launched two years ago by then–chancellor of the Exchequer George Osborne, City of London Corp., and Canary Wharf Group, may not be the only reason “the U.K. is now recognized as the leading global fintech hub,” asLawrence Wintermeyerboasts. But with more than 250 members, ranging from raw start-ups to large-valuation “unicorns” to leading financial institutions, Innovate Finance is undeniably one of the focal points for a world-class technological ecosystem on par with the City’s stature as a global financial center. The Brexit vote in June caused barely a blip in London’s fintech development and funding momentum — it was “more of an emotional shock than anything else,” according to Wintermeyer, who adds, “New York is really our sister hub.” It’s a friendly rivalry. Partnership Fund for New York City chief executive Maria Gotsch (No. 12) gave a keynote speech on September 7 when Innovate Finance formally launched its East Coast Program, promoting what Wintermeyer calls “a collaborative environment for our members and influencers.” Two weeks before that Innovate Finance joined in an announcement with SWIFT’s Innotribe innovation arm (see Fabian Vandenreydt, No. 24) that unveiled the Global FinTech Hubs Federation. The idea is to “connect entrepreneurs and investors, report on the landscapes and get some degree of consistency on where the money is going, what’s hot and what’s not, and what’s going on on the regulatory side of things,” says Wintermeyer, 51, a longtime digital strategy adviser who joined Innovate Finance as CEO in March 2015. Also on a global scale, at the United Nations ID2020 summit in May the London organization announced an initiative supporting the U.N. sustainable development goal of providing legal proof of identity to some 1.8 billion people who currently lack it. “Identity is really the first requirement to get access to bank accounts or liquidity,” Wintermeyer says. “We’re keen that this is one step in helping to solve not just financial inclusion but also the heinous things that happen to people who don’t have a legal identity.”