A survey by FINTECH Circle, the leading global community of Fintech investors, entrepreneurs and financial services professionals has revealed stark figures showing a lack of knowledge and understanding amongst fintech stakeholders of a key Governmental Fintech Sector strategy. [1]
Fintech Bridges are a key trade strategy and an integral part of many governments’ policies to support their financial services sector, providing links between governments, regulators and the private sector.
As a result, more than 46 Fintech Bridges exist globally. In the United Kingdom for example, the HM Treasury Fintech Sector Strategy (March 2018) highlights how Fintech Bridges will “reduce barriers to market entry and link UK-based Fintechs up with opportunities for international investment.” [2]
The global Fintech Bridge survey highlights that only one in three within the sector understand what Fintech Bridges are designed to do with over 50 per cent of respondents knowing nothing about this initiative.
Three quarters of respondents pointed out they would like governments support to help them understand financial regulation and more than half stated that practical market entry help should be a key priority of governments and financial regulators worldwide to ease businesses transition to overseas markets.
The survey was conducted by FINTECH Circle to inform the first FINTECH Bridge Conference, which has been established to give a platform for fintech companies, financial services companies, investors, policy leaders and Fintech leaders looking to share knowledge and forge business and investment relationships across the global fintech bridges.
The FINTECH Bridge China-UK Conference takes place in the City of London on the 11 December 2018 and will be opened by government delegates from the UK and China including Adam Afriyie MP and Chair of the All Party Parliamentary Group for Fintech and Mr. Sunan Jiang, the Minister Counsellor for Science and Technology at the Chinese Embassy.
Susanne Chishti, CEO of London-based FINTECH Circle said: “We wanted to create a shop window for UK Fintechs who have the capability to strike out and grow their businesses. Our networking opportunities, pitching competition and FINTECH Bridge Awards ceremony will create a great platform for this.”
“A large part of our work over the last two years has been to find ways to help UK businesses find partnerships that lead to investment and trade in Fintech. What we were not prepared for was the sector’s apparent lack of understanding of how ‘Fintech Bridges’ work and the benefits which could be gained.”
The FINTECH Bridge China-UK conference – and also the informative FINTECH Bridge Journal which will be launched during the conference – will go a long way to help the sector better understand these opportunities – a critical mission during these uncertain times.
