Back

Innovate Finance Statement on the UK Government’s no-deal Brexit Financial Services Paper

CEO of Innovate Finance, Charlotte Crosswell comments on the UK government’s no-deal Brexit Financial Services paper:

“Across UK FinTech, many businesses have watched recent events surrounding the Brexit negotiations unfold with a growing sense of unease.  For this sector to continue to thrive and succeed, shared access to cross-border data, sources of capital funding, and international skills and talent are all required.

Without such access, many tech businesses – especially those start-ups that are scaling the success of UK FinTech – will struggle to maintain the impressive growth we have seen, putting jobs across the technology and finance sectors at risk.  
The uncertainty that British firms will continue to face will have a much greater impact on smaller firms. We should not under-estimate the potential impact this will have on our members, who like many entrepreneurs need more clarity in order to continue thriving in the UK.”
 
A no-deal Brexit presents a clear challenge to the continued short term success of UK FinTech, as well as placing at risk the long term impact on UK innovation.  Innovate Finance calls for the UK Government to urgently take the steps necessary to ensure the maximum possible practical advice is provided to ensure continuity for UK FinTechs as well as consumers of financial services.”