FinTech Fortnight Partners with The Open Banking Implementation Entity
FinTech Fortnight (5th-18th of February) is back for its second year, promising to be even bigger and better than before, as FinTech has only grown in the last twelve months. According to the Treasury, FinTech is now worth £7 billion to the UK economy.
FinTech Fortnight has returned to help educate businesses and the public on what FinTech is, and how it can help them.
Open Banking promises to revolutionise how money is managed, and give people back control of their finances. The Open Banking Implementation Entity has partnered with FinTech Fortnight to spread this message of empowerment to the UK, helping them get better deals and make smarter choices.
All of this is done through financial technology, or FinTech, which employs over 60,000 people in the UK and is a vital part of the economy. A growing sector that shows no signs of slowing down, FinTech attracted £433 million of venture capital investment in the first six months of 2017 alone, and over half of that was from outside Britain , and there is set to be even further investment in 2018.
The UK is the world’s leading FinTech hub, with a market size of £6.6 billion. This shows the UK is the place to be for FinTech, with investment actually increasing after the Brexit vote, ensuring that the country continued to lead, generating vital revenue and propelling the sector to new heights.
