LONDON - Brexit, COVID-19 and overseas competition are challenging fintech’s future in Britain and the country should act to stay competitive, a government-backed review said on Friday.
The review headed by Ron Kalifa, former CEO of payments fintech Worldpay, sets out a “strategy and delivery model” that includes a new billion pound start-up fund and fast-tracking work visas for hiring the best talent globally. The review said Britain increasingly needs to represent itself as a strong fintech scale-up destination as well as one for start-ups.“Leaving the EU and access to the single market going away is a big deal, so the UK has to do something significant to make fintechs stay here,” said Kay Swinburne, vice chair of financial services at consultants KPMG and a contributor to the review.
'keep'?
Interesting read. 🇬🇧 has a 10% share of the global fintech market, generating £11 billion ($15.6 billion) in revenue. 👀 Big question is, ‘Do USA 🇺🇸, Singapore 🇸🇬, and the other Fintech Creatives have to have a 🇪🇺Hub’?
😂 😂 😂 😂 😂 😂 😂 😂 Good luck with that.
Nice
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