Around 70 FinTech Founders and CEOs have written a letter to the UK Government calling for progress to be made on the recommendations from last year’s Kalifa Review.
In Brief:
The letter included signatories from Monzo, Starling and OakNorth.
It notes positive steps including the industry-led Centre for Finance, Innovation and Technology (CFIT).
However they say more can be done to “environment in the UK that is even more supportive of and conducive to innovation in financial services”.
What does this mean?
The main points the CEOs and Founder have outlined a still in need or progress are updating regulations to encompass newer aspects of FinTech like cryptocurrency and open baking – as well as addressing the current funding gap for UK FinTechs.
