UK Trade & Investment are going on a world tour in an attempt to bring fintech companies to British shores. While TVs being chucked through windows is unlikely, there are hopes the roadshow will be a success.
The trade body will be showing up in a number of countries including the US, India, Singapore, Germany and Hong Kong. They’re hoping to entice already established fintech companies along with startups as well.
This is a carry-on from George Osborne’s speech last week where he planned to help London’s fintech sector which is already the biggest in Europe.
The UKTI’s fintech specialist, Shaul David, said: “The government has the objective to turn London into the fintech capital if the world. The idea is of being synonymous with fintech as much as Silicon Valley is synonymous of digital.”
“We are embarking on a campaign where we are going overseas to meet investors in target markets, and reiterate the opportunities in the UK Fintech sector and the support infrastructure we have in place.”
This come after the UKTI commissioned EY to put together a report on the UK’s current fintech market.
They found that the sector is worth £20bn in yearly revenue. Omar Ali from EY, said: “The UK market is one of the most attractive markets for fintech in Europe based on our analysis. The unique thing about the UK is the combination of consumer appetite for new, innovative products and services and our world-class start-up fintech industry.”