By Scott Dawson, Head of Sales and Strategic Partnerships at DECTA
“Although the next election could be argued a foregone conclusion at this point, what happens to the UK’s FinTech companies after July 4th is still very much up in the air.”
“Frankly, we have seen a lot of talk over the past 14 years about enabling innovation, levelling up and investing in the UK’s tech space. London has been touted as the world capital of cryptocurrency, NFTs and now AI, and while we have seen investment, it has largely come from the private sector. Now, the government has not stood in the way of this investment, but it has done little to actively encourage it.”
“Some of the most consequential changes have come from overseas: the Payment Services Directive (PSD) rules have created a new class of company through the introduction of Open Banking and the provision of 3DS services. We shouldn’t fear regulation, but doing so has been this government’s dogma for too long. It is possible that the next government won’t share this antipathy towards government support to grow businesses and protect businesses and consumers. If this is the case, then we could see a major uptick in the profits and innovative possibilities of UK businesses.”
To learn more, visit: https://www.decta.com/
