UK fintech future post-Brexit depends on FCA’s approach

Author: Olly Jackson | Published: 19 Jun 2018

For the first time ever the number of card payments has overtaken cash payments in the UK, underlining the UK’s status as a major fintech hub.

Much of this success has been attributed to the Financial Conduct Authority’s (FCA) flexible regulation, which has focused on encouraging fintech investment. 

But after Brexit, more work may need to be done. International trade secretary Liam Fox said that the UK will increase fintech spending after Brexit, without specifying precisely how much.

James Greenhalgh, business development manager at UK fintech company 4xxi, said the FCA will play a big part as to whether London will remain successful after Brexit.

"The frameworks implemented do help; we are working alongside a pre-seed fund sponsored by the government which is stimulating tech start-ups," he said. "These kinds of initiatives are what will keep London as a fintech start-up hub."

In October 2014, the FCA...