"Fintech is a true British success story, and we are backing the industry to maintain its competitive edge and go even further and faster in driving growth."
"Today's package is our latest stake in the ground as we build a payments ecosystem that is secure, competitive and fully equipped to harness the opportunities created by rapid technological change."
"Britain is a world-leading destination for fintech, second only to the US in global fintech investment rankings. More than 3,000 fintech firms operate in the country, which account for tens of thousands of jobs."
The UK government plans to modernize payment services regulation to foster innovation in money and payments. A consultation will be published for feedback from the payments sector. Lucy Rigby emphasized the importance of fintech as a British success story and the government's commitment to maintaining the UK as a leading destination for fintech. The government will invest an additional £1m in the Centre for Finance, Innovation and Technology to enhance collaboration in the sector. Key strategies include integrating the Payment Systems Regulator into the Financial Conduct Authority.
Read at ComputerWeekly.com
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