MARKETINVOICE and Funding Circle executives are among the industry experts selected for the Treasury-backed fintech delivery panel, which will aim to maintain the UK’s position as a global fintech hub.
Anil Stocker (pictured), chief executive of MarketInvoice and Martin Cook, general counsel at Funding Circle, are the only peer-to-peer lending professionals making part of the 24-strong panel, which will be run by Tech City UK.
Other fintech experts on the panel include: Michael Harte, group head of innovation at Barclays; Taavet Hinrikus, chief executive of TransferWise; Peter Smith, chief executive of Blockchain; and Jeff Lynn, chief executive of Seedrs.
The initiative was originally announced by former City minister Harriett Baldwin at the Innovate Finance global summit in April 2016 and was highlighted again in Chancellor Philip Hammond’s Autumn Statement last November.
“This panel will play a key role in nurturing fintech companies to scale up and become global leaders in their field,” said Stocker. “The UK has always been at the forefront of financial services, and it rightly deserves to lead the world in fintech. This is a huge opportunity for the UK economy, and I’m looking forward to building on the huge progress made in the last five years.”
Tech City UK said it will ensure that the panel identifies key collaborative initiatives for UK fintech; sets out a timeline for the industry to deliver progress on these initiatives; and supports the fintech community in implementing them.
Tech investment veteran Eileen Burbidge, who is the Treasury’s special envoy for fintech and chair of Tech City UK, is chair of the panel.
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“It’s brilliant to see that the Treasury and the government more broadly are continuing to support the fast-growing fintech sector,” said Burbidge.
“I look forward to convening the new fintech delivery panel in order to progress specific initiatives, and also that there will be a fintech services hub to inform younger fintech startups about relevant professional advisors. All of these new measures will undoubtedly add to the likelihood of the UK maintaining its position as the fintech capital of the world.”
The new Treasury is making efforts to support the sector. Last October, it announced that a new, annual fintech conference will take place in London in April 2017, to address a gap in attracting international investment compared to other countries.