Over the past decade, the UK has undergone a fintech revolution – in jobs, innovation, improvements to people’s lives and in the country’s ability to compete on the global stage – and today is one of the leading global fintech hubs.
Through a five-point plan that spans policy and regulation, skills, investment, national connectivity and international competitiveness, the Review sets out a clear strategy to ensure that the UK can capitalise upon the opportunities fintech presents to create quality jobs and level up the country, increase financial inclusion and play a key part of “Global Britain”.
“Fintech has the power to change lives, both in terms of job creation and better wages that are so essential to our recovery; and making financial services more accessible and relevant to people’s lives.
Britain has a proud record of starting-up and scaling-up some of the best known fintech products, but we cannot rest on our laurels. The next powerhouses will not be created by accident."
Sir Ron Kalifa
Download the Executive Summary
The Review secretariat was provided by Innovate Finance and the City of London Corporation.
“This is a pivotal moment for the UK. There are significant opportunities offered by fintech – an area in which London already has unmatched global appeal. But for the UK to retain its position as world leader and continue to attract investment into the sector, it is vital to offer an environment which supports innovation. The Kalifa review offers a roadmap to achieving this. We welcome the review’s recommendations, including its call to maintain access to the global talent that is so essential to fintech’s success in the UK, and urge government to support its recommendations and help turbocharge this vibrant sector.”
Catherine McGuinness, Policy Chair of the City of London Corporation