Chancellor drives UK fintech strategy

Published on: March 22, 2018
All news postsAll blog posts

The Chancellor has today made a landmark announcement detailing the government’s fintech strategy. Speaking at the International Fintech Conference, Philip Hammond stated the importance of solidifying the UK’s dominance in the world of fintech.

Commenting on the strategy Flavia Alzetta, Contis’ Chief Executive Officer, said:

“This landmark government initiative shows that we’re all millennials now. Over the years, we have learned to expect useful information to be presented to us immediately and in an impactful way, and we now rightfully expect that of our finances. The importance the Chancellor has placed upon fit-for-purpose infrastructure that is reliable, real-time and sufficiently flexible to support the breadth of great ideas is crucial in making the potential of UK fintech a reality for millions of users.

“Legislators have been great supporters of the fintech goal to democratise banking and present customers with their data in ever-more useful ways. It’s a welcome, bold move to suggest leveraging Brexit to create a more global marketplace where the great strides we have made in the UK and Europe can be replicated elsewhere. The Chancellor is clearly pinning a lot of hopes on fintech being a major economic driver after 2019, so it’s time for the sector to make the leap from ideas to working solutions.

“Fintechs are already having an impact on a nationwide scale. Imagine a world when customers are presented with accurate information that allows them to optimise their debts, savings, bills and everyday expenditure at the click of an in-app button. It’s positive to see that the government recognises the benefits of initiatives that put the customer in control and democratises the availability of their data to deliver enhanced customer experiences.”

You can view the full Chancellors speech here: https://www.gov.uk/government/speeches/chancellors-speech-international-fintech-conference

News

Video: How is the FinTech landscape evolving?

From Andy Patton, Group Chief Commercial Officer:   So in terms of the FinTech landscape, it’s changing at an ever-increasing rate. We see new entrants that have come into the market and that have managed to acquire significant numbers of new customers. We really...

read more

Video: How quickly can a FinTech get to market?

Thoughts from Flavia Alzetta, Contis CEO...   We want to really make a difference in our industry. One of the areas we have been working on is enabling FinTechs to go to market as fast as possible, in 4 weeks or thereabouts. And why that is important is because...

read more

© Copyright Contis Group Ltd 2018. Registered in England and Wales number 06499022. Contis Financial Services Ltd is authorised by the Financial Conduct Authority to issue eMoney (Firm Reference Number: 900025) and is a Principal Member of Visa Europe.ber: 900025) and is a Principal Member of Visa Europe.

We are proud to have won some of the most prestigious awards in our industry.