A year ago, all eyes were on Rishi Sunak’s first Budget as the Chancellor outlined the government’s measures for tackling the growing spread of the coronavirus. But he also announced the launch of a review into the UK’s fintech sector headed by former WorldPay CEO Ron Kalifa OBE and just a few weeks we finally saw the publication of the highly anticipated report.
The 106-page Kalifa Review of UK Fintech highlights the opportunity to create highly skilled jobs across the UK, boost trade and extend the UK’s competitive edge over other leading fintech hubs. Among its recommendations, the review proposed the creation of a £1billion growth fund, financed by insurers, pension funds and private investors, to support fintech startups in unlocking direct access to institutional capital.
In this issue of The Fintech Times, we delve into the report, alongside another recently published report by Lord Hill (a former EU commissioner), designed to encourage investment in UK businesses, benefit companies who choose to float in London and improve the UK’s competitive position.
We hear from fintechs around the global community who, in large, welcome both reports and the potential opportunities they propose but highlight a number of questions and challenges to be addressed.
Turn to page four for all the reaction.
We’re also delighted to announce that nominations are now open for The Fintech Power 50 2021 – the annual guide to the most influential and innovative companies, and visionary personalities shaping the fintech industry.
Between now and the end of April, members of the industry can nominate a fintech company and a fintech star – from anywhere in the world – that they believe should be featured in this year’s cohort.
Get involved with the Fintech Power 50 for 2021 on page 22.