The financial technology sector needs support, the British government decided and promised to allocate £500,000 annually for the development of fintech companies, which is approximately equal to $620,000.
But the support doesn’t stop there. A network of regional fintech representatives will be created. What for? Yes, to turn Britain into a leader in the field of financial technologies. The market will also be analyzed to ensure that it meets the needs of investors.
But that’s not all. The United Kingdom has signed an agreement with South Korea to create a so-called fintech bridge, which will strengthen cooperation between the countries in the field of financial investment and create more opportunities for mutual investment.
Britain has already become famous as a leader in the financial market. The country cares about the constant development of new technologies. What’s more, Britain has more fintech employees than anywhere else in the world. The country is not trying in vain. After all, in 2015 alone, income from the activities of financial companies amounted to 8.7 billion dollars.
