UK international trade department unveils fintech match-making initiative
The UK’s Department for International Trade has launched a campaign to encourage international financial institutions to invest in British fintech.
UK antitrust regulators give Visa’s fintech acquisition a green light
The United Kingdom Competition and Markets Authority, has given the go-ahead to Visa’s acquisition of fintech startup Plaid.
UK pumps £10 million into the Kenyan Fintech scene as it aims to increase financial inclusion for low-income and underserved consumers through technology
The Lord Mayor of the City of London Peter Estlin, on Thursday announced £10 million (Sh1.154 billion) of UK Aid support towards the Catalyst Fund during a visit to Nairobi. His visit comes ahead of the first UK-Africa Investment Summit next year, which will bring together businesses, governments and international institutions to encourage investment in a range of sectors, including fintech. The Catalyst Fund supports business development and investor opportunities for early stage fintech companies in emerging markets. With support from the UK Department for International Development, the Catalyst Fund will help connect a further 30 local fintech companies with international investors and mentors, including Kenyan fintech companies. “Today’s announcement […]
Cybersecurity dominates EU Fintech Action Plan
Cybersecurity takes top billing in the European Union’s upcoming Fintech Action Plan, with a draft emphasising efforts to improve cooperation and coordination between market participants and regulators. Recognising its potential threat to the stability of the financial sector, the European Parliament has called on the EC to make cybersecurity “the number one priority” in the FinTech Action Plan. In response, a plan draft identifies three specific moves: A public-private workshop to investigate barriers limiting information-sharing on cyberthreats, followed by a look into how these can be fixed. A call for the three European supervisory authorities (ESAs) to map, by Q1 2019, the existing supervisory practices across financial sectors around ICT […]
British fintech sector has shrugged off Brexit dip, says regulator
Britain’s financial technology sector has recovered from an initial dip after Britain’s vote to leave the European Union, a senior UK regulator said on Monday. Fintech companies have revolutionised the financial sector with the likes of mobile payments services and were quickly targeted by centres such as Berlin and Luxembourg after last June’s Brexit vote, playing on fears that UK businesses could be cut off from the EU single market when Britain leaves in 2019. “In the immediate aftermath of the EU referendum there was a concern that we would see the number of innovative firms wanting to operate in the UK fall,” Chris Woolard, director of strategy and competition […]
UK looks to strengthen FinTech ties with India
A UK envoy that includes politicians, central bank officials, and prominent FinTech executives are in India to discuss trade relations that will deepen industry ties between the two nations as the UK prepares for the separation from the European Union. A UK-delegation led by Chancellor Philip Hammond that includes Her Majesty’s Treasury FinTech envoy Eileen Burbidge and Bank of England governor Mark Carney along with a number of leaders from banking and financial technology firms are currently in India as a part of a two-day visit as a part of the 9th UK-India Economic and Financial Dialogue (EFD). Hosted by Arun Jaitley, India’s finance minister, the trade envoy will see […]
Europe wants to hear more ideas about Fintech
Europe wants to learn more about fintech and how to develop it. That’s why the European Commission’s Task Force on Financial Technology will seek feedback on fintech from consumers and companies involved in the sector. The effort involves an online survey whose findings will help the commission “create an enabling environment where innovative financial service solutions take off at a brisk pace all over the EU, while ensuring financial stability, financial integrity and safety for consumers, firms and investors alike,” the commission said. The commission’s task force also plans to work with companies on such projects as better ways to confirm the identities of financial customers, and to potentially revise […]
French officials are in London again wooing fintech and finance firms to Paris post-Brexit
The Vice-President of the Paris Region begins a two-day visit to London on Monday as French officials continue their aggressive courting of British businesses affected by Brexit. Othman Nasrou, Vice-President of the Paris Region in charge of international affairs and tourism, is visiting London on Monday and Tuesday to meet a selection of finance and fintech companies. Nasrou will pitch the companies on the attraction of Paris as a location for finance firms post-Brexit. Nasrou’s visit is part of an aggressive bid by French officials from both local and central government to lure businesses away from Britain in the wake of Brexit. The UK’s exit from the European Union is […]