- International Trade
Secretary MP launches a new FinTech
investment drive, bringing together academics, industry experts
and businesses.
- The sector attracted
£1.8 billion of investment last year – up 153% on 2016.
- Dr Fox: “DIT is
putting technology and innovation at the heart of the UK’s global
growth.”
International Trade Secretary MP today (Friday 15 June) launches
a new drive to attract investment into the UK’s booming financial
technology (FinTech) sector. Dr Fox’s Department for
International Trade (DIT) will prioritise investment into
FinTech, set up a UK FinTech steering board and connect companies
with global investors.
The new drive comes during London Tech Week, and follows the
Prime Minister’s announcement on Wednesday (13 June) that more
than 1,600 new jobs will be created and £2.3 billion of private
investment into the broader technology sector has been secured,
showcasing the UK as the best country in the world to run a tech
company.
Launching the new FinTech investment drive, International
Trade Secretary MP said:
“The UK is a world leader in the FinTech sector, thanks to
our highly-skilled and creative workforce, fair regulatory system
and ease of doing business.
The sector has already attracted £1.8 billion worth of
investment in 2017 – a 153 per cent increase on the previous year
and as an international economic department, DIT is putting
technology and innovation at the heart of the UK’s global
growth.”
Financial services and technology are two of the UK’s leading
industries, with FinTech playing an increasingly important role
in tasks ranging from complex financial transactions to helping
consumers give money to charity more easily.
DIT’s FinTech steering board brings together academics, industry
experts, government and regulators to drive investment into the
sector, which is at the forefront of the UK’s global technology
and innovation proposition. It will be chaired by the City of
London’s Lord Mayor, Charles Bowman, and firms including Zopa,
Neyber, EY, Innovate Finance and Santander will sit alongside
government, regulators and academics from MIT and Oxford
University.
Charles Bowman, Lord Mayor of the City of London and
chair of DIT’s FinTech board, added:
“FinTech is something that I am hugely passionate about, with
the UK home to around 1,600 FinTech companies, and more than
50,000 related jobs in the Square Mile alone.
“I look forward to exploring how we can further develop our
world-leading FinTech offer and to helping shape the UK’s
future FinTech trade and investment strategy.”
ENDS
Notes to editors
- The FinTech steering
board comprises of the following members:
- Omar Ali: UK Financial
Services Leader, EY
- Giles Andrews:
Co-founder and Chairman, Zopa
- David Bartlett: Head of
Financial and Professional Services Team, DIT
- Charlotte
Crosswell: CEO, Innovate Finance
- Anna Wallace: Innovate
Head of Department, FCA
- Stephen Ingledew: Chief
Executive, FinTech Scotland
- Monica Kalia: Founder,
Chief Strategy and Business Development Officer, Neyber
- Alastair Lukies:
Founding Partner, Motive Partners
- Dan Morgan: FinTech
Sector Specialist, DIT
- Sigridur Sigurdardottir:
Chief Customer and Innovation Officer, Santander
- David L. Shrier:
Associate Fellow, MIT and Oxford
- Paul Stoddart: CEO
Vocalink
- Phil Vidler: Head of
Global Markets, HM Treasury
- Tomas Helm: FinTech
Lead, DIT
The Board will convene four times a year with the first
meeting taking place during London Tech Week, a celebration of
innovation that brings together a global gathering of thought
leaders, entrepreneurs and tech champions.
