Bringing Together Strengths of the UK's FinTech Ecosystem in One Destination
London, UK. Tuesday, April 30th. The Rt Hon Philip Hammond MP, Chancellor of the Exchequer, has today announced the FinTech Alliance, an organisation designed to bring together the UK and global FinTech sector through one online destination.
Announced by Her Majesty’s Treasury (HMT), and in partnership with the Department of International Trade (DIT), the digital platform will bring together the strengths of the UK’s FinTech ecosystem in one destination. FinTech Alliance’s democratized platform is built on providing opportunity and education to those working in the sector. By building a profile as an individual or a company, users will be able to access and share a wealth of insight and news across the platform, connect with investors, receive updates on the latest policy and regulatory changes, and find the talent they need in order to scale.
Another key focus of FinTech Alliance is on connecting commerce. The platform will also open up international opportunities and build bridges, enabling global growth and success. Its aims include attracting international investment, FinTech firms and talent to the UK, as well as acting as a platform for UK firms to expand onto the global stage.
Alastair Lukies CBE, Member of the Prime Minister’s Business Council and Chair of FinTech Alliance, explained: “The UK is the leading FinTech ecosystem globally. However, this is not something that has happened by chance, and certainly something we cannot be complacent about. Much work has gone in over the past 10 years from government, regulators, incumbents, innovators and most importantly many regions across this great nation to create the unique alchemy that we benefit from today. The FinTech Alliance will not only demonstrate this thriving environment digitally, but will further cement our key role in the global FinTech ecosystem.”
The Chancellor announced the forthcoming launch while speaking at the Innovate Finance Global Summit at the Guildhall in London. At this stage, FinTech Alliance is inviting the community to sign up on the platform, to share ambitions and help develop the roadmap, ahead of the official launch in just over a month.
The first ever community-driven platform is supported by Principal Partners including commercial data and analytics company Dun & Bradstreet; software development business, Endava; financial services company, First Data; professional services firm PwC; payment services and Mastercard company, Vocalink; and legal firm White & Case.
Stephen Daffron, President of Dun & Bradstreet said:
“Britain’s leadership in financial technology has had a generational effect on the growth of talent in our industry that continues to reverberate around the world. As a firm that has contributed to and benefited from the burgeoning creativity affecting finance for the last thirty years, Dun and Bradstreet is only too happy to join this worthy Alliance.”
David Bartlett, Head of Financial & Professional Services, Department for International Trade stated: “The UK continues to be a global hub for FinTech - benefiting from a diverse pool of talent, a supportive regulatory environment and world-leading FinTech companies. As these companies mature and seek to expand their operations overseas it becomes ever-important to showcase the very best of British FinTech on a global stage. It is therefore welcome that The FinTech Alliance will help to power this next phase of growth, engagement and connectivity for one of the UK’s brightest sectors.”
FinTech Alliance has brought together a dedicated team of experts who will be leading this digital marketplace, engaging with the key stakeholders and making sure this unique community-led initiative is a world-class portal for the global FinTech Community. Individuals will be able to register for free and businesses will have to pay a monthly subscription or annual fee for a presence on the platform. The profits made by FinTech Alliance will be used to drive further initiatives and support pre-existing organisations in the UK FinTech community.
For further information, please go to www.FinTech-alliance.com.
NOTES TO EDITORS:
About FinTech Alliance
FinTech Alliance, in partnership with the UK Government, is a multifaceted digital engagement platform that brings the global FinTech ecosystem together to explore, engage and do business. This will be the first ever community driven platform for the whole FinTech industry, where all the profits made will be reinvested back into the FinTech sector, providing a fully inclusive environment to support FinTech growth and empower UK business with comprehensive information, services and intelligence.
About Dun & Bradstreet
Dun & Bradstreet, the global leader in commercial data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet's Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.
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