UK Financial Technology (FinTech) Kalifa Review Published

In late February 2021, Her Majesty’s Treasury published the findings of its financial technology (FinTech) review. Launched in July 2020 and led by Ron Kalifa, the review identified three major areas of risk to the UK FinTech ecosystem: competition, Brexit, and the pandemic. The review’s recommendations are in five main streams: skills and talent, investment, national connectivity, policy, and international attractiveness. Recommendations include amendments to UK listing rules, improvements to tech visas, a regulatory ‘scalebox’, and a Centre for Finance, Innovation, and Technology.

According to the review, the UK FinTech sector represents 10% of global market share and $14.3bn (£11bn) in revenue. In 2019 UK financial services firms spent at total of $123.5bn (£95bn) on technology. In 2020 investment into UK FinTech was more than the next 5 European countries combined.

For more information contact Office.London@trade.gov.