We at FinTECHTalents like to keep our fingers on the pulse and our noses to the wind to find out our community concerns, what our FinTech leaders are discussing and what our industry is holding up for debate. Never one to reduce our touch points our FTT Snapshot Surveys are a bi-monthly Big Question to gather the FinTech collective wisdom. This week’s Snapshot question is: What’s your view on the UK FinTech Review?
In 2014, George Osborne, then Chancellor of the Exchequer, announced that the UK would become the “global capital of FinTech”.
In 2020, with COVID-19 putting most of the country into lockdown, the UK government kicked off a six-month independent review of the country’s financial technology sector, citing it as being “vital” to the UK’s economic recovery.
Announced in chancellor Rishi Sunak’s debut budget in March of this year, but launched in July due to COVD-19 related delays, The Fintech Strategic Review is being led by Ron Kalifa OBE, a former chief executive of international payment processing company Worldpay. It aims to identify priorities for regulators and policymakers, as well as industry.
The report will provide recommendations on each workstream and address three objectives: ensuring UK FinTech has ‘the resources to grow and succeed’, encouraging ‘widespread adoption of FinTech solutions’, and ‘maintaining and advancing the UK’s international reputation’.
The report is scheduled to be presented to HM Treasury at the start of 2021.
(All responses are anonymous – your name will not be used when the results are published)
Tune in next week to find out the mood of our FinTech Community!