A recent survey of 100 fintech leaders reveals that 94% consider the UK a good place to start and expand a fintech business. This sentiment comes despite a challenging economic backdrop, with the global fintech industry currently convening in London for London Fintech Week.
However, these leaders also highlight significant risks to the UK's competitive standing. Concerns are particularly focused on other financial centres rapidly advancing in areas such as artificial intelligence (AI), digital assets, payments, and the infrastructure for future financial services.
The government has positioned financial services and fintech at the core of its growth agenda, aiming to enhance Britain's attractiveness for investment, innovation, and scaling technology businesses. Fintech is increasingly seen as a fundamental part of the financial infrastructure.