A national hub for FinTech backed by £5.5 million of UK government funding has been opened this week.
The Centre for Finance, Innovation and Technology (CFIT) aims to boost growth and innovation in the UK FinTech industry.
The government claims it will provide more jobs, cut costs for consumers and enable businesses to benefit from new technology and efficiencies.
CFIT was set up in response to a government review into UK FinTech published in 2021. Since then, the government says it has been working with regulators on measures including a visa scheme for FinTech scale ups and implementing an FCA scale box allowing the trial of new products.
There will be a range of partnerships between CFIT and experts across finance, technology, academia and policy-making announced in the coming months.
Commenting on the news Andrew Griffith, Economic Secretary to the Treasury, said: “The UK is a world-leading location for FinTech growth and investment - it’s a real British success story and one that’s spread across the whole UK.“
He added: “It’s also great to see the UK Infrastructure Bank delivering on its mission to invest in the clean energy revolution and on much needed infrastructure - using its £22 billion of taxpayers’ money to help communities across the UK.”
Latest News
-
OpenAI and Stripe bring direct purchasing to ChatGPT
-
Visa launches new hub to boost AI in commercial payments
-
Lloyd’s partners with Ireland’s Department of Finance for InsurTech innovation
-
JPMorgan fraud case sees Frank founder Charlie Javice jailed for seven years
-
Moneybox scales homebuyer offering with First Mortgage partnership
-
Deutsche Bank completes first euro cross-border payment via blockchain
.jpeg)
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories