Opinion: Financial technology will play an important role in the country’s economic recovery

Advertisement

BEGIN ARTICLE PREVIEW:

Fintech is a true UK success story, providing 76,500 jobs, 1,600 firms, and £7bn for our economy. There was £4.1bn of venture capital investment in UK fintech firms last year. It is now up to all of us to ensure it remains so.The importance of fintech is about more than just the hard numbers. Small innovative firms bring energy, ideas and growth to hubs across the UK, contributing to our society in many ways. People will of course understand that new tech-enabled services are transforming the way we buy, sell and manage our money. Indeed, many of these proved crucial as we adapted to the pandemic. But fintech firms are regularly first to embrace new approaches, like the flexible virtual working that businesses of all sizes are now considering well beyond Covid-19. Their dynamism and fresh ideas will now play an equally important role in driving forward the UK’s recovery.The UK government has consistently championed and supported fintech. Earlier this year, we extended the funding for the Fintech Delivery Panel, a group of industry experts who work to protect the UK’s intellectual, technological and financial appeal to fintech. When the pandemic struck, we set up the Future Fund …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE