New Report on 'The Value of Fintech', City of London

Today a new report, 'The Value of Fintech', was published by the City of London/KPMG. It analyses the implications in terms of value to the UK of a strong fintech sector. The report examines the key drivers of growth, fintech focus areas, implications for fintech for consumers, government, regulators and the industry. It goes on to look at the contribution fintech can make in improving financial inclusion, security and compliance, enhancing customer experience and increasing transparency.

The key recommendation is in support of a sector deal for fintech that reinforces the UK’s position as a global hub for this industry and for innovative fintech businesses. The report recognises that government can support the ecosystem for fintech by enabling innovation in regulation, availability of capital, infrastructure, and talent. Fintech must also demonstrate how it benefits society through the development of our skills pipeline - through training or apprenticeships – and how it can encourage greater financial inclusion, regional growth, and stimulate interoperability with financial services businesses.

The Chair of Policy at City of London, Catherine McGuiness, said that the aim is to 'develop a single policy vision for fintech, coordinate open standards, enhance regional engage;ent and support talent development and greater access to capital for fintech businesses.'

The full text can be downloaded here.

 

FROM SOCIAL MEDIA

Register now for our ‘Demystifying #LocalGov - Growing the #GovTech Market’ event on 01 March to develop a better u… https://t.co/0bVTUHvt1G
Help inform @gov_procurement Technology Products and Services frameworks and future approach to emerging tech https://t.co/CJPQPHlgPN
Commitment to maintaining regulatory standards welcome but businesses eager for more detail and practical progress… https://t.co/rSbqpnuFMe
Only 8 days to go until our cloud security event! Those in Bristol have a great opportunity to learn how cloud comp… https://t.co/gYJEE2jOH7
Congratulations to techUK member @InformedTweet - Merit Award Winner for Emerging Digital Solution @WITSA1https://t.co/1QMNcuoPYX