FCA releases detailed 5-point plan to make UK a fintech powerhouse

Upon the announcement of the UK funds for 2020, Chancellor Rishi Sunak commissioned Ron Kalifa to conduct an impartial assessment of the U.Ok. fintech sector. On Friday, eight months later, the FCA revealed the 108-page report, and it incorporates a number of clear tips aimed toward cementing the U.Ok.’s place as a fintech powerhouse.

Over $95 billion was spent by U.Ok. fintech companies in 2019, and with 10% of the worldwide market share, the U.Ok. is already forward of the curve relating to fintech adoption and enterprise. Investments in U.Ok. fintech companies totaled $4.1 billion in 2020, notes the report — greater than the following 5 European international locations mixed.

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