Warwick Business School has inaugurated a Fintech Innovation Lab in the West Midlands, following a £4.2 million investment.
The lab aims to be a global hub for fintech excellence, welcoming visiting academics, students, and businesses. It is equipped with high-specification computers, digital screens, VR headsets, voice-to-text AI software, and strategic AI tools.
The Centre was established thanks to a £3 million donation from Clive Gillmore, an alumnus of WBS and founder and Group CEO of Mondrian Investment Partners. Additionally, it has recently received a £1.25 million anonymous donation to create a FutureFinance.AI Research Group, focusing on the emerging proptech market.
The Business School will also introduce a new MSc in Fintech, with applications opening in September 2025.
Ram Gopal, director of the Gillmore Centre for Financial Technology, stated, “Fintech has the power to turbocharge the economy, and we aim to play a key role in enabling the West Midlands and the UK to become a science and technology superpower. The Fintech Innovation Lab will enhance the School’s outstanding research environment and solidify our importance in the West Midlands, especially as the business school and the University of Warwick contribute more than £1.15 billion to the local economy.”
The West Midlands is becoming recognized as one of three fintech hubs in the UK, according to a report from local group SuperTech. This report reveals that the sector supports over 11,000 jobs in the region.
With the high costs associated with setting up in London, many UK fintech startups are moving north, drawn by the region’s higher education institutions and skilled talent pools. The report notes that Birmingham and its fintech businesses have generated £474 million in economic output, with projections indicating that this could exceed £1 billion.