Review calls for new regulatory framework for fintech
- On March 3, 2021
- By GrowthInvest Marketing
The UK isn’t doing enough to support the development of fintech, through both regulation and investment, a recently published report has concluded.
The Kalifa review of fintech, commissioned at last year’s Budget, has outlined a strategy to support the growth and adoption of fintech across the UK.
The independent review, led by Ron Kalifa, the former Worldpay chief executive, found the UK was at a ‘pivotal moment’, but warned it risked falling behind.
The report’s recommendations include a new regulatory framework for emerging technology, and outlines the need to support private investment, and well as the expansion of tax credit schemes.
One of the major proposals was the creation of a ‘Digital Economy Taskforce’, comprising key regulatory and government figures, to better co-ordinate policymaking.
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