UK becomes 2nd largest export for Irish fintech

The UK has become Ireland’s second largest export for fintech and financial services, growing by 17% to €597m in 2022.

Marking the record numbers, Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Jennifer Carroll MacNeill, addressed the 15th annual Enterprise Ireland Financial Services Dinner at the Irish embassy in London.

Minister Carroll MacNeill said: “The UK is a key strategic market for Irish exporters and particularly so for technology and financial services companies. Combined, these sectors achieved exports of €1.2bn in 2022.

“I am delighted to mark this achievement at the financial services dinner in London and to support our ambitious, exciting and talented Irish companies to further expand and drive innovation in the UK.”

The event is a platform to strengthen ties between financial institutions and companies in the UK and Ireland to continue to grow fintech exports, with Enterprise Ireland technology company exports to the UK growing by 30% to €598m in 2022.

The UK is the largest export for Enterprise Ireland client companies after exports grew by 13% to €9.22bn.

Regional Director for Enterprise Ireland UK and Nordics, Deirdre McPartlin, commented: “Irish companies continue to embrace the enormous opportunities that the UK offers. They understand that the common travel area, common law, and a common language place them in a unique position to serve UK customers.

“Our annual financial services dinner is an important opportunity to deepen trading relationships and demonstrate the capability of Irish exporters in the financial space.”

1500 companies recorded exports to the UK last year, with the state of the UK economy enabling the market to remain as a strategic entity for the entire Irish enterprise base and fintech export opportunities.

Coinciding with the dinner was the announcement that Spectrum.Life, a mental health support platform for employees, signed a multi-year deal with Legal & General, valued at £5m+.

Photo: Spectrum.Life Announce £5m Deal with Legal & General at Enterprise Ireland’s 15th Annual Financial Services Dinner in London