Closing address of the
It gives me great pleasure to be able to say a few words at the end of this incredibly successful inaugural
It is clear that we stand at a key moment for FinTech in this country.
Never before have prospects been so great.
Never before has investment in the industry been so attractive.
In a world of rapid change, before we all know it, today's innovators will be tomorrow's mainstream.
Today's disruptors will be tomorrow's conventional wisdom.
And today's financial revolutionaries will be tomorrow's financial establishment.
This conference has been a showcase and a celebration of an industry that has done so much to contribute to this country's knowledge, skills and expertise, enhancing the
The focus of the conference has been wide-ranging, but what has been most clearly highlighted is the uniquely strong position that the industry enjoys.
We have heard the impressive headline figures.
61,000 people are employed by an industry that generates over 6.6 billion pounds in revenue every year.
We have also heard from the government and the regulator about the policies that have promoted the industry, and made the
The industry is still a comparatively young one.
This will, of course, mean challenges in the future.
But the so-called disruptive technologies are the ways in which we produce change and innovation, taking on the orthodoxies of the industry to produce the evolution that the sector and the
And the exciting developments here at home will create vast opportunities for the sector across the rest of the world.
We should meet the future with confidence.
As Secretary of State for International Trade, I have had the privilege to see first-hand how highly
Last January, for example, I visited
They were keen to invest in the
Investors across the world are eager to catch the wave of innovation that the
It is no wonder that the
The industry has been bolstered by
Our Capital attracts more international companies from the financial services, technology and creative industries than any other city in
The success of FinTech is spreading across the
For all the great strengths of the industry, it is vital that it enjoys the full practical support of the
As a department of government, we work to maintain and improve
Moreover, we offer practical and financial support to any
Finally, we also work to attract foreign investment to the
After all, we are a nation with a proven track record of strong returns.
Last year, over
Our country has always maintained a strong focus on leading edge technologies.
We are globally renowned for the quality of our academic and research facilities, a tradition that creates and maintains a highly skilled workforce.
Our research and development prowess is unrivalled, not only in technology but also in science and medicine.
Tech companies that began as small
It is no wonder that the
There is no country better suited to FinTech than the
We are known for having the best regulatory and policy environment to support growth and innovation, underlying our firm commitment to maintaining and enhancing our world leading status.
Our world-leading financial services industry employs over 1.2 million people in every corner of our country.
We have an almost limitless capacity for research and development.
And we have a government that is committed to maintaining this environment, supporting new businesses and facilitating global market access for British companies.
These factors combine to make the
This industry is one of huge ambition, but also of almost limitless potential.
There is no better place on earth to start, or expand, a financial technology business.
The FinTech industry stands on the verge of an exciting future.