04 January 2024

Kalifa Review of UK Fintech

Written By FinTech Growth Fund

Kalifa Review of UK Fintech

Recommendations at a glance:

Policy and Regulation 

  • Deliver a digital finance package that creates a new regulatory framework for emerging technology
  • Implement a “Scalebox” that supports firms focusing on scaling innovative technology
  • Establish a Digital Economy Taskforce (DET) to ensure alignment across government 
  • Ensure that fintech forms an integral part of trade policy

Skills

  • Retrain and upskill adults in support of UK fintech by ensuring access to short courses from high-quality education providers at low cost
  • Create a new visa Stream to enhance access to Global Talent for fintech scaleups 
  • Build a pipeline of fintech talent by supporting fintech scaleups to offer embedded work placements to Further Education and Higher Education students and Kickstarters 

Investment 

  • Expand R&D tax credits, Enterprise Investment Scheme and Venture Capital Trusts
  • Unlock institutional capital to create a £1bn “Fintech Growth Fund” of sufficient scale to act as the catalyst in developing a world leading ecosystem
  • Improve the listing environment through free float reduction, dual class shares and relaxation of pre-emption rights
  • Create a global family of fintech indices to enhance sector visibility 

International

  • Deliver an international action plan for fintech
  • Launch an international “Fintech Credential Portfolio” (FCP) to support international credibility and increase ease of doing business 
  • Drive international collaboration through the Centre for Finance, Innovation and Technology , and launch an International Fintech Taskforce 

National connectivity 

  • Nurture the high growth potential of the top 10 fintech clusters 
  • Drive national coordination strategy through Centre for Finance, Innovation and Technology
  • Accelerate the development and growth of fintech clusters through further investment, such as in R&D

Read more in full here.

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