The UK Treasury and City of London Corporation are launching a £5.5 million ($6.6 million) program to bring together experts from all fields in support of the nascent financial technology industry.
(Bloomberg) — The UK Treasury and City of London Corporation are launching a £5.5 million ($6.6 million) program to bring together experts from all fields in support of the nascent financial technology industry.
The Centre for Finance, Innovation and Technology, which was recommended in the 2021 Kalifa review of the sector, is being launched on Tuesday in Leeds. However, the hub will not have a physical office presence and instead relies on more ad hoc collaboration to grow the sector, which is enduring a plunge in fundraising as the global economic outlook darkens.
Ron Kalifa said the new project “will be instrumental in fostering collaboration between industry, academia and policy makers, promoting innovation, and turbo-charging the adoption of new technologies for businesses and consumers.”
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.