The University of Leeds is leading a new £6.5 million initiative to drive technology adoption and growth in West Yorkshire’s financial sector.
The programme, called the Leeds Financial Innovation Exchange (LFIX), is backed by the Local Innovation Partnerships Fund, a £500 million UK Government scheme delivered through UK Research and Innovation (UKRI). It will be delivered through Nexus, the university’s innovation hub.
LFIX brings together academic researchers, financial institutions and technology providers to work on artificial intelligence, cyber security, fraud prevention, financial technology, data science and climate risk.
The launch coincides with the first meeting of the new Northern Square Mile Board, an industry-led partnership steering the region’s financial and professional services cluster. Board members include Lloyds Banking Group, Deloitte, Yorkshire Building Society, FinTech North, Leeds City Council and the West Yorkshire Combined Authority.
Leeds is already the UK’s largest centre for financial and professional services outside London, and local leaders aim to double the growth of the Northern Square Mile as part of a wider roadmap targeting £20 billion in economic growth and 100,000 new jobs over the next decade.
Professor Nick Plant, Deputy Vice-Chancellor for Research and Innovation at the University of Leeds, said the university is bringing together its research strengths with the real-world challenges of industry partners across the region.