London to woo fintech stars

Major initiative announced

The City of London Corporation is today (13 February) hosting a series of seminars, presentations and networking opportunities for a delegation of nearly 50 European-wide fintech companies. The aim is to showcase the strengths of the UK’s fintech offer and demonstrate why either setting up a fintech firm or doing business here is the number one option in Europe.

Firms from Spain, Italy, Poland, Greece, Cyprus, Portugal, Ireland, Czech Republic, Luxembourg, Belgium, Austria, France, Israel & Germany will be represented at the two-day visit, organised in conjunction with the UK’s Department for International Trade (DIT) and Foreign & Commonwealth Office.

The delegation will gain a better understanding of the UK’s fintech offer and be briefed on the UK’s regional strengths & opportunities, the possible Brexit implications for the industry, and receive advice on the Financial Conduct Authority’s application process, tax, regulation and research and design incentives.

Fintech in the UK contributed £6.6bn to the economy in 2016 and employs over 60,000 people. Developed financial markets and readily available capital and investment, Government backing and engagement, a predictable and sound regulatory environment, talented workers and world-class infrastructure are all cited as reasons for the UK’s leading global position.

The delegation will also attend a bell ringing ceremony at the London Stock Exchange on Wednesday, while the rest of second day of the programme will take place at Natwest’s offices at Bishopsgate.

Policy Chairman at the City of London Corporation, Catherine McGuinness, said:

“The UK is the global leader for fintech for a number of reasons. The City has supported this growth from the start and we have seen a number of firms become world leaders in recent years. 

“We want to do all we can to make sure we support this growth, encourage firms to set up their businesses here in the UK and help drive forward this innovative and constantly evolving industry. Events like today will help us keep our cutting edge in the world of fintech.”