Digital Shadows founding member of new UK financial technology industry body, launched by UK Chancellor of the Exchequer

7 August 2014

London, 7 August 2014 – Innovate Finance, an industry body established to promote the interests of the UK’s rapidly growing financial technology (fintech) sector, launched last week in London. Held at Level39, the launch was attended by over 250 of the country’s most senior representatives across the fintech community, financial services industry, government and media.

Innovate Finance is a new industry organisation that will accelerate the UK's leading position in the global financial services sector by directly supporting the next era of technology-led financial services innovators – whether they be young start-ups or established industry players. The body aims to be the voice of a new movement that believes in the immense transformative power of technology to improve every aspect of banking, finance and commerce. It will champion the UK as the undisputed centre of sustainable financial services and technology innovation, cultivate business opportunities for start-ups and drive diversity of choice for consumers.

The organisation launched with over 50 founding members (refer to Editor’s Notes below for details), including Digital Shadows, a Canary Wharf-based cyber threat intelligence company. The company’s innovative online service caters to its clients’ cyber security needs by scanning the Internet for exposed data as well as any potential threats from hostile groups. After gaining several prominent clients in the financial sector, Digital Shadows has caught industry and media attention, most recently by being featured in Pitch 10, The FinTech 50, and the CBEST initiative. (See more at: http://www.digitalshadows.com/about/our-company/#sthash.vB631lPz.dpuf)

Innovate Finance will provide a single point of access to key industry influencers, clients, technologies, talent, finance and international marketplaces. Members are currently comprised of pre-revenue startups and multinational corporations across the insurance, retail and investment banking, technology, payments, remittance, crowdfunding and alternative finance sectors, among others. Driven by a team of fintech entrepreneurs, the organisation is wholly dedicated to growing the UK fintech sector.

Innovate Finance is supported by the City of London Corporation, as lead sponsor. The Canary Wharf Group plc is a founding sponsor committing funding and high-tech office and events space. The body is led by CEO Claire Cockerton, with a Board of Directors that includes fintech leaders such as Nick Hungerford of Nutmeg, Justin Fitzpatrick of DueDil, and Alastair Lukies of Monitise Plc, who will serve as the organisation’s Non-Executive Chairman. An Advisory Council of industry experts includes Eric Van der Kleij, Head of Level39 Technology Accelerator and Nadeem Shaikh of Anthemis Group, among others.

Chancellor of the Exchequer George Osborne said:
“Key to the government’s long term economic plan is cementing Britain’s position as the centre of global finance. It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers here and around the globe, and create the jobs and growth we all want to see in the future. That’s why it’s fantastic to be here today at the launch of Innovate Finance.”

Alastair Paterson, CEO of Digital Shadows, said: “The UK fintech sector is thriving and we are proud to be named amongst this elite group of companies spearheading innovation within it.”

A full programme of events, workshops, roundtables and member benefits can be found at www.innovatefinance.com and will include Innovate Finance’s first annual industry forum, policy roundtables and specialised innovation programmes.

For media enquiries about Innovate Finance, please contact:

Editors’ Notes:

For additional information, please visit www.innovatefinance.com

About Innovate Finance
Innovate Finance is an independent membership-based industry organisation that aims to advance the UK’s standing as a leader in financial technology (fintech) innovation – both domestically and abroad. Members range from the world’s leading global corporations to the UK’s most promising fintech start-ups and, through Innovate Finance, will receive a single point of access to policymakers, regulators, investors, customers, educators, talent and key commercial partners. Membership is open to all businesses that have a technology-centric approach to innovation in financial services and a presence in the UK. The organisation has a current roster of over 50 member companies, which are pioneering new digital products and services across the following sectors: insurance, retail and investment banking, payments, remittance, crowdfunding, cloud computing, big data, analytics and alternative finance. Innovate Finance is supported by the City of London Corporation, as lead sponsor, in addition to the Canary Wharf Group and membership fees. For a full list of members, member benefits, workshops and events please see www.innovatefinance.com and follow us @innfin.

About Digital Shadows
Digital Shadows is a UK-based cyber intelligence company that helps clients discover sensitive data exposed through social media, cloud services and mobile devices.  It also identifies which hostile groups are targeting its client base. From its Canary Wharf headquarters, at the centre of London’s financial hub, Digital Shadows serves clients around the world, including some of the world’s largest banks. For further information please visit www.digitalshadows.com

About the City of London Corporation
The City of London Corporation provides local government and policing services for the financial and commercial heart of Britain, the 'Square Mile'. In addition, the City Corporation has three roles: (1) we support London’s communities by working in partnership with neighbouring boroughs on economic regeneration, education and skills projects. In addition, the City of London Corporation’s charity City Bridge Trust makes grants of more than £15 million annually to charitable projects across London and we also support education with three independent schools, three City Academies, a primary school and the world-renowned Guildhall School of Music & Drama. (2) We also help look after key London heritage and green spaces including Tower Bridge, Museum of London, Barbican Centre, City gardens, Hampstead Heath, Epping Forest, Burnham Beeches, and important ‘commons’ in south London. (3) And we also support and promote the ‘City’ as a world-leading financial and business hub, with outward and inward business delegations, high-profile civic events, research-driven policies all reflecting a long-term approach. See www.cityoflondon.gov.uk for more details.

About the Canary Wharf Group
Canary Wharf Group plc is an integrated property development, investment and management group of companies. Canary Wharf has a working population of over 100,000 people in a diverse range of sectors for some of the world’s leading companies. It has paved the way for the regeneration of London’s Docklands and one in five Canary Wharf workers now lives in a local East London borough. It has helped London and the City consolidate its position at the centre of the business world. Established by Canary Wharf Group plc, at 29,000 square feet, Level39 is Europe’s largest accelerator space for businesses innovating in financial, retail and future city technologies. It helps growing businesses to deliver world-class financial technology products and services through unrivalled access to office, event and social facilities, new customers, partners, talent, investment, ideas and social and cultural amenities provided by Canary Wharf. See www.canarywharf.com and @yourcanarywharf for more details.

For a list of the 50 founding companies, please see http://innovatefinance.com/members.