Tech Nation has launched a FinTech Pledge with support of HM Treasury and the Fintech Delivery Panel.
The pledge aims to boost FinTech growth in the UK.
Banks and leading FinTech firms will enhance their collaboration efforts.
The pledge will set “globally leading” standards for the establishment of commercial partnerships.
What does this mean?
The pledge involves banks setting clear onboarding guidelines for potential FinTech partners, which provides much-needed clarity during what can be a long and complex process. Major banks such as Barclays and NatWest Group have already signed, with the pledge open to more signatures.