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Chancellor George Osborne reiterated in his budget speech his desire to see the UK become the world's fintech capital “The government is determined to drive increased competition in the banking market, so that banks, alternative providers and fintech firms compete vigorously, on a level playing field, to win and retain customers." This was backed up by A report from the UK Government Chief Scientific Adviser entitled "FinTech Futures - The UK as a World Leader in Financial Technologies"
A new report from the UK government's chief scientific adviser has set out 10 recommendations designed to help achieve Chancellor George Osborne's stated aim of turning Britain into the world's fintech capital. Last summer Osborne vowed to use the government's powers to help make Britain a hub for financial technology innovation and commissioned a report to investigate the enblers and barriers that will shape the fintech sector over the next 10 years.
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