The plans are part of a push to encourage financial innovation which will be co-ordinated through a new Centre for Finance, Innovation and Technology (CFIT). One of its other roles will be to work with the government, regulators and the Bank of England on improving rulemaking in the sector.
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UK cities set to host fintech hubs to help drive innovation
“We often do go overseas [for investment], which is a testament to the strength of the sector,” said Crosswell. “That means that there was always a risk of IPOs moving away.”
