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<p>The UK is recognised as the world’s leading FinTech capital, with recent reports
such as EY’s ‘UK FinTech: on the cutting edge’ and Deloitte’s ‘Connecting Global FinTech:
Hub Review 2016’ placing the UK and London as the number one location for FinTech
in the world.</p><p> </p><p>The government is determined to continue to help support
UK FinTech firms as they innovate and grow, and wants to ensure that the UK remains
the location of choice for FinTech firms. As such, we are continuing to implement
a range of our previously announced policies which are designed to reduce barriers
to entry for FinTechs, help industry accelerate the development of key FinTech initiatives
and ease access to foreign markets. We are also assessing other initiatives which
can further help support the growth of UK FinTech, in consultation with the industry.</p><p>
</p><p>In July, we launched our second FinTech Bridge with the Republic of Korea –
increasing the opportunities for trade and investment between our two nations on FinTech,
and deepening regulatory and government collaboration.</p><p>Following the vote to
leave the European Union, the government is engaging extensively with the sector.
I will be meeting with the sector this month to discuss what they are looking for
out of the European negotiations, and what more the government can do in the short
and medium term to support the sector.</p>
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