The Government has launched an independent Fintech Strategic Review to set priorities for industry, policy makers and regulators. Its aims are:
- to ensure UK fintech has the resources to grow and succeed
- to create conditions for widespread adoption of fintech solutions to benefit both businesses and individuals and
- to maintain and advance UK fintech’s global reputation for innovation and transformation of financial serviesc.
There will be five workstreams, each of which will make up to three ultimate recommendations – skills and talent, investment, national connectivity, policy and international attractiveness and competitiveness.
The review will be led by the former CEO of Worldpay, with Innovate Finance and the City of London Corporation providing the secretariat. There will be a monthly meeting with Treasury and the review will report back to Treasury in early 2021.