Britain has announced a fast-track visa scheme for jobs at fintech firms after a government-backed review warned that financial technology firms will struggle with Brexit and tougher competition for global talent.
“Scale-box” to help young fintechs grow faster New Innovation Centre to focus private sector push Challenge is to retain fintechs once established Brexit has hit single market access for fintechs (Recasts with finance ministry on fast-track visas)
LONDON, Feb 26 (Reuters) - Britain said on Friday it would offer a fast-track visa scheme for jobs at high-growth companies after a government-backed review warned that financial technology firms will struggle with Brexit and tougher competition for global talent.
Finance minister Rishi Sunak said that now Britain has left the European Union, it wants to make sure its immigration system helps businesses attract the best hires.
Britain said it would offer a fast-track visa scheme for jobs at high-growth companies after a government-backed review warned that financial technology firms will struggle with Brexit and tougher competition for global talent.
Britain sets out blueprint to keep fintech crown after Brexit reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
UK sets out blueprint to rescue fintech companies after Brexit
26 Feb 2021 A man crosses the road at a financial district in London. File/Reuters
Brexit, COVID-19 and overseas competition are challenging fintech’s future in Britain and the country should act to stay competitive, a government-backed review said on Friday.
Britain’s departure from the European Union has cut the fintech industry’s access to the world’s biggest single market, making the UK less attractive for fintechs wanting to expand cross-border.
The review headed by Ron Kalifa, former CEO of payments fintech Worldpay, sets out a “strategy and delivery model” that includes a new billion pound start-up fund and fast-tracking work visas for hiring the best talent globally. “It’s about underpinning financial services and our place in the world, and bringing innovation into mainstream banking,” Kalifa told Reuters.