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UK government rolls out fintech review

Wednesday 22 July 2020 10:21 CET | News

The UK government has launched the independent ‘FinTech Strategic Review’ to establish a roadmap for future success, according to fintechmagazine.com.

The value of the domestic sector is estimated at GBP 7 billion, with approximately 60,000 people employed in it throughout the country. Following the completion of the investigation, a report will be presented to HM Treasury at the beginning of 2021. Initially detailed in March’s Budget 2020, the review is set to explore ways in which the industry, regulators, and policymakers can work together to ensure the continued success of UK-based fintech. 

With GBP 4.1 billion attracted in venture capital (VC) in 2019 and overall market growth of 70% on 2015’s valuation, the progress of the fintech sector is apparent, and the UK government wishes to capitalise on it. 

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Keywords: UK, United Kingdom, government, fintech, fintech review, HM Treasury, Budget 2020, venture capital, market growth, fintech sector
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
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Banking & Fintech






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