A week designed to ‘showcase the successes’ of the UK’s burgeoning FinTech sector will take place in April, Chancellor Philip Hammond confirmed over the weekend.
The UK government will be working in conjunction with Fintech trade body Innovate Finance to deliver the second annual UK Fintech Week, set to take place in London from 10 to 13 April.
Chancellor Philip Hammond will host the first International FinTech Conference on 12th April, at which he will be joined by Bank of England governor Mark Carney and the Economic Secretary to the Treasury, Simon Kirby.
Part of the event will be The Innovate Finance Global Summit, designed to bring together investors and entrepreneurs from across the Fintech sector. Over 2000 attendees are expected to join the event, which will host 100 speakers and offer UK FinTech firms the opportunity to showcase themselves in an exhibition space.
The two-day summit will focus on the themes driving innovation in financial services, such as the blockchain, digital identity, cyber security, financial wellness and inclusion.
“The Fintech sector is one of our fastest growing sectors, adding more than £6.6 billion into the UK’s economy and attracting more than £500m of investment,” said Hammond.
“Fintech Week 2017 is an opportunity for Britain to build on these successes and attract further investment in our world-leading sector, ensuring we remain at the cutting edge of financial innovation.”
FinTech is one of London’s quickest growing sectors, generating over £6.5 billion in revenue in 2015. British Fintech companies attract significant investment, with around £550 million in capital invested in 2015.
Eileen Burbidge, the Treasury’s special envoy for Fintech, said: “The UK is already the best place in the world to start, grow and scale a Fintech company thanks to our strong financial services heritage, leadership in digital technology, strong investment landscape and progressive and innovative regulators”.
“This second annual UK Fintech Week will showcase all of the many strengths of the UK, and highlight the reasons why even more entrepreneurs and investors should look to the UK for value creation and market opportunities.”