03.12.2020

Strategic Review Of UK Fintech Welcomed

03.12.2020
Shanny Basar

The UK Government announced in the Budget yesterday that it will carry out a strategic review of the country’s fintech sector. The review will be led by Ron Kalifa, chairman of payments firm Network International and a non-executive director at the Bank of England and Transport for London.

Catherine McGuinness, Policy Chair at the City of London Corporation, said the fintech review is a very positive step.

“As a secretariat we look forward to working with Ron Kalifa to ensure the sector continues to drive forward innovation in financial services and enhance its role as a key growth engine for the UK economy,” she added.

Charlotte Crosswell, chief executive of UK fintech industry body Innovate Finance, said:

Chris Cummings, CEO of the Investment Association, said the trade body looked forward to contributing to the government’s review of the UK’s funds regime:

“The UK is already a leading hub for the investment management industry and it is vital that we remain competitive,” he added. “We are pleased that the Government has listened to our industry and will be consulting on simplifying the process for allowing investment funds set up overseas to be marketed in the UK.”

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