Innovate Finance forms International Fintech Group

Innovative Finance has formed an international Fintech group, to promote the burgeoning UK startup scene to overseas markets.

The group will come together for a 12-month period to increase industry-wide collaboration on initiatives that strengthen the UK’s position as a global leader in fintech.

Innovate Finance and the Department for International Trade (DIT) will co-chair the group, which will implement initiatives to promote the UK FinTech sector in key international markets and raise awareness of existing and planned trade deals, frameworks and available support .

His main goals for the next 12 months include creating and publishing a UK FinTech Trade & Investment brand that extends to the DIT ‘Made in Britain’ campaign and building a portfolio of over 20 case studies UK FinTech, with a focus on those who have succeeded in overseas markets.

The first meeting of the new group – which includes notable companies such as Revolut, Klarna and Checkout.com – will take place next month.

Janine Hirt, CEO of Innovate Finance, comments: “One year on from the Kalifa review, significant steps are being taken to advance and strengthen the UK’s world-leading fintech sector and implement the report’s recommendations. International focus was at the heart of the review, and I am delighted that we are working with DIT to bring this key initiative to life.”

Alex Marsh, Head of Klarna UK, comments: “FinTechs in Britain are disrupting traditional banks on all sides, delivering better products, better customer experiences and building on capabilities like open banking faster than any other country. As we put the pandemic behind us, we have a unique opportunity to cement the UK’s future as a global fintech leader by building stronger links with fintech hubs around the world and continuing to deliver products, services and regulation that benefit consumers, not banks. ”