In his speech Rishi Sunak set out some new initiatives to promote UK Fintech.
The initiatives are aimed at ensuring the sector’s growth and helping the UK to remain at the cutting edge of digitalising financial services.
Highlights included the announcement of a new task force between the HM treasury and the Bank of England, a new financial market infrastructure sandbox to protect regulatory standards, and changes to the UK visa system which would allow companies to recruit promising tech talent from around the world. All of which look like positive steps for the Fintech industry.
As an emerging Fintech startup, we’ve taken a keen interest in this week’s announcements.
Joiin co-founder, Lucien Wynn, commented:
“We see this week’s announcements by Chancellor Rishi Sunak at Innovate Finance’s UK Fintech Week as a clear step in supporting Fintechs to grow and succeed not just in London, but also in areas across the rest of the UK, driving vital international growth at a crucial time.”
“It seems clear that the UK Fintech industry is an exciting place to be right now”
“As a company based in the UK’s South West, we particularly welcome the creation of an industry-led Centre for Finance, Innovation and Technology (CFIT) that will work with both national and regional Fintech bodies to address challenges and make this week’s announcements a reality.”
“This year we have seen exponential growth both within our own business here at Joiin and those of our fellow Fintech partners. We’re looking forward to further expansion as the year progresses.”
“It seems clear that the UK Fintech industry is an exciting place to be right now.”
“We’ll be championing these new initiatives from our base in the South West and look forward to what we suspect will be a very interesting year ahead.”