EY becomes the first Big4 member of Innovate Finance

31 August 2015 Consultancy.uk

EY is the first of the Big Four to become a member of the Innovate Finance, an organisation whose aim it is to advance UK based FinTech. EY will help member companies to accelerate their growth and FinTech offerings, as well as helping larger research programmes into FinTech with its own expertise.

FinTech has been doing well in the UK and Ireland in recent years. According to the IFS 2020 report, Ireland and the UK have seen the volume of FinTech deals triple since 2011, with a five-year compound growth rate for FinTech financing twice the global average and twice that of Silicon Valley. Since 2013, the UK and Ireland together accounted for more than half of Europe’s FinTech deals (53%) and more than two-thirds of its total financing.

To further improve the development of FinTech in the UK, Innovate Finance was established in 2014 as a non-profit membership based organisation. The aim of the organisation is to develop and promote the UK as a leader in FinTech innovation, both domestically and abroad. The organisation was initially funded and supported by City of London Corporation and the Canary Wharf Group.

EY becomes the first Big4 member of Innovate Finance

The recent announcement from EY sees the firm join 120 further members from a wide range of organisation, including start-ups and larger financial institutions, as well as “two $1 billion unicorns.” EY is the first of the Big Four to join the club.

The agreement between Innovate Finance and EY will involve the development of a pilot for a unique talent programme that sees EY staff seconded into other members’ companies for a period of three months. The firm will deliver highly experienced and knowledgeable staff to accelerate start-up growth as well as innovation programmes. EY will also supply talent for large collaborative research programmes related to FinTech trends such as blockchain technology, open payments, financial inclusion and regtech.

Imran Gulamhuseinwala, Lawrence Wintermeyer

Commenting on the membership, Imran Gulamhuseinwala, EY’s EMEIA FinTech Leader, says: “FinTech innovation is the new frontier for financial services. Our report for UKTI last year showed that FinTech is already a £20 billion industry in the UK and growing exceptionally fast. The UK is a hub for financial innovation, and organisations such as Innovate Finance play a crucial role in helping both new and established FinTech firms to develop and grow. We are delighted to be supporting Innovate Finance.”

Lawrence Wintermeyer, CEO of Innovate Finance, adds: “The EY talent programme is an exciting new pilot that will give EY staff the opportunity to work directly in the FinTech ecosystem. This is a win-win agreement for both partners and will see our members gain access to a professional pool of talent to support exciting mission critical projects.”

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Grey Consulting and Makerversity announce strategic partnership

05 April 2019 Consultancy.uk

Grey Consulting has forged a new alliance with Makerversity, a 500-strong community of the brightest creative innovators, headquartered at Somerset House, London. The partnership hopes to tap into the experimental community to develop pioneering solutions for Grey Consulting’s clients.

In August 2018, one of the world’s largest design agencies surprised the business world by launching a dedicated consulting outfit. The news came as the two industries continued on their trajectory towards a historic synthesis. The consulting industry has been engaged in a pitched battle with the advertising and design space for the past few years, as the former increasingly encroaches on the territory of the latter via a protracted campaign of mergers and acquisitions; but there had been little traffic moving in the other direction.

At its launch, Grey Consulting was not billed as a direct competitor to established consultancies. However, the firm behind the new entity hopes that its creative experience will give it a competitive edge in winning consulting business from its existing clients. The Grey Group is a global advertising and marketing agency with headquarters in New York City, and 432 offices in 96 countries, operating in 154 cities. Grey Consulting opened its doors with a view to aiding clients within the areas of business and brand design, innovation and digital transformations.Grey Consulting and Makerversity announce strategic partnership

Now, as the firm looks to further expand its footprint in the market, Grey Consulting has unveiled details of a ground-breaking new alliance with Makerversity, a 500-strong community of creative innovators headquartered at Somerset House, London. The alignment with Makerversity is hoped to unlock the potential of collaborating with one of the world’s most experimental communities.

Makerversity curates and convenes the best talent across product design, fashion, art and experimental architecture, sustainable materials, IoT, digital manufacturing, and coding. It provides spaces and workshops for professional makers to develop and create their work, supported by Somerset House Trust. The alliance is expected to enable Grey Consulting to develop pioneering solutions for its clients, together with innovators who make something amazing for a living, every day. 

Leo Rayman, Grey Consulting CEO, commented, “This gives our clients the potential to access a network of some of the most diverse and innovative individuals in the world today. Being so tightly connected to a community of makers means we don’t just develop transformational strategies but can quickly realise them in three dimensions. This sets Grey Consulting apart from the pure play strategy houses who are sometimes criticised for not making their thinking real at the pace modern businesses require.” 

Fiona Dent, CEO of Makerversity, added, “Makerversity acts as a catalyst for unexpected encounters, fostering collaborations between an incredible range of the brightest leading creators and innovators. Our experimental approach and engaged members, whose own practice is defining our world, create highly original new outcomes. We are delighted to bring this philosophy to a wider audience and generate interesting projects for Makerversity members through our partnership with Grey Consulting.”