Regional FinTech bodies FinTech Scotland and FinTech Wales have called for increased research and innovation (R&I) to accelerate FinTech development across the UK.
In Brief:
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Research and Innovation for UK FinTech is a new report by both groups.
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It sets out a number of key actions to build longer-term R&I across the UK.
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This includes challenge led programmes and mapping the longer-term needs for FinTech R&I.
What does this mean?
According to the report, a UK-wide approach to research and innovation is needed. This research will align with the Government’s wider FinTech Review which is set to be published in the summer.
According to FinTech Wales CEO Sarah Williams-Gardener, the paper recommends a clear plan to support FinTech innovation. “We must create an environment where opportunities to innovate – and break through the crowd – can be achieved,” she comments.
