Financial Services Skills Commission supports the findings and recommendations of the Kalifa Review

The Fintech Strategic Review, chaired by Ron Kalifa and commissioned by HM Treasury, has published its recommendations on how to best support the growth and development of the UK’s FinTech sector.

The Review considers the UK fintech sector’s current position and the “size of the prize” in terms of job creation, trade and investment, financial inclusion and economic recovery that the industry could deliver with the right strategic support.

The core of the Review is a five-point plan of recommendations based upon the key issues of policy and regulation, skills, investment, international opportunities and national connectivity.

You can read a summary of the recommendations and download the full report here.

Commenting on the report, Claire Tunley, Chief Executive of the Financial Services Skills Commission, said:

“We wholeheartedly support the recommendations of the Kalifa review. Upskilling and retraining our current and future workforce in the skills of the future will be central to maintaining the UK’s position as a leader in this exciting sector. There is great potential for firms to collaborate and identify the most sought-after skills for this sector, which relies on new, evolving and specialist skills alongside financial services expertise.

“The UK now has 10% of the global market share in Fintech, a sector which is worth more than £11bn a year to the UK and supports highly skilled jobs across our regions and nations. FinTech firms have an important role to play in supporting the Government’s levelling-up agenda by creating jobs and regional growth through the high income, tech-based roles they employ across the UK.”