Brexit and fintech: A spring stocktake
April 25, 2021. Summarized by summa-bot.
Compression ratio: 17.5%. 1 min read.
The post-Brexit Britain, adapting to the new political and economic landscape, requires a strong support for the fintech sector to remain a financial center.
As a result, U. K. financial services are currently operating with less EU market access than some of their key competitors, including the United States and Singapore.
In addition to examining the implications of Brexit on existing business models in financial services, it is equally important to consider the opportunities for future growth that currently exist for U. K. finance.
It is clear that fintech and digital finance, alongside green finance, is an area that the U. K. is seeking to prioritize for development to make up the business that has been lost to the EU.
However, these reviews also point to areas of challenge and uncertainty, as well as opportunity, for U. K. fintech post-Brexit.
Similar to the history of London as a financial center, the U. K. ’s fintech sector has shown considerable regenerative capacities, adapting its focus to the political and economic landscape of which it is a part.
It is clear that there is strong political support for the sector in post-Brexit Britain, and the sector itself will need to respond accordingly as more detail emerges concerning the U. K. ’s financial services priorities post-Brexit.