On 20 July 2020, the Government launched a review into the UK’s financial technology industry. The independent Fintech Strategic Review will establish priority areas for industry, policy makers and regulators to explore in order to support the ongoing success of the UK fintech sector.
The review will seek to advance three objectives:
- Ensuring UK fintech has the resources to grow and succeed.
- Creating the conditions for continued widespread adoption of fintech solutions to benefit businesses and individuals.
- Maintaining and advancing UK fintech’s global reputation for the innovation and transformation of financial services.
Five workstreams will provide recommendations on: skills and talent, investment, national connectivity, policy, and international attractiveness. Each workstream will ultimately make up to three recommendations; each recommendation will seek to advance one or more of the review’s objectives.
The review will be independent and is expected to report back to HM Treasury at the start of next year.