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Innovate Finance Issues Statement in response to Mansion House Speech From Chancellor Philip Hammond

CEO of Innovate Finance, Charlotte Crosswell responds to the Chancellor’s final Bankers & Merchants Dinner speech:

“Innovate Finance welcomes the Chancellor’s strong recognition that innovation and technology are the future of finance, and the role that policy and regulation can play in enabling this.

“Echoing the findings of today’s Future of Finance report, the boundaries of Open Banking are being expanded into Open Finance – bringing even greater opportunity to draw on new technology and data for consumers and SMEs, so they can experience new services and products, more directly tailored to their needs.

“We also welcome Philip Hammond’s acknowledgement of the breadth of exciting new business models in payments, and look forward to engaging with the Government and our members to help shape the future payments landscape.”