June 2023
Price: £95 PLUS VAT
Format: DOWNLOADABLE PDF
This conference examined next steps for supporting innovation in financial services and building the UK’s competitiveness as a global Fintech hub.
In light of recent developments, including the discussion paper on AI published by the financial regulators and HM Treasury’s consultation on the regulatory regime for cryptoassets, delegates assessed priorities for building on the regulatory framework to support innovation and incorporate new and emerging technologies.
It was also a timely opportunity to examine the UK’s international competitiveness in Fintech following the creation of the Centre for Finance, Innovation, and Technology, as well as the Government’s announcement of the Edinburgh Reforms, which outlined its ambition to put the UK financial sector at the forefront of technology and innovation.
Further sessions looked at the way forward for driving growth and attracting investment in the Fintech sector, including key issues for securing the talent pipeline.
Overall, areas of discussion in the agenda included:
- enabling regulatory support for innovation:
- deepening industry-regulator connections
- tackling key challenges for enabling fair competition in the Fintech sector - ensuring consumer choice
- next steps for RegTech - utilising new technologies to keep regulation at pace with innovation
- assessing the impact of Big Tech on the innovation landscape - how to maintain effective competition
- the regulatory framework:
- opportunities to adapt regulation - safely incorporating new and emerging technologies
- priorities for using regulatory reform to develop growth in emerging areas
- progress and challenges for incorporating AI
- the future of payment services and crypto
- UK Fintech strategy:
- identifying barriers for investment in UK Fintech - opportunities for growth
- establishing and developing the UK’s competitive advantages
- developing skills in the sector - improving access to global talent
- international competitiveness:
- policy priorities for boosting the UK’s position as a global centre for innovation in finance
The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the DBT; DCMS; Department for the Economy, NI; DfE; DESNZ; Department of Finance, ROI; DIT; FCDO; GLD; HMRC; ICO; HM Treasury; and the MOJ.
