Fintech
Labour Party FinTech Initiative | FinTech Alliance
July 22, 2024
Written by FinTech Alliance in Financial Technology
The UK Labour Party has pledged to support and expand the fintech sector, aiming to generate a £330bn boost to the economy. The party plans to modernise financial regulations and invest in financial regulators to ensure they are adequately resourced.
Labour’s strategy includes embracing innovations such as AI, Open Banking and securities tokenization. The Tony Blair Institute for Global Change and the Start-Up Coalition have highlighted the need for more funding for financial regulators to maintain the competitiveness of the sector and avoid stagnation.