Tuesday 25 October 2016 5:07 pm

London's fintech status to get a global boost with a government-backed showcase

The best and brightest of London's fintech scene will be given centre stage by the government next spring, as the Treasury today revealed plans for an annual fintech conference.

Set to launch next April, the exhibition will give UK fintech firms the chance to present their business to international investors. 

"Backing Britain's world leading financial services industry is a key part of our plan to ensure the UK remains a great place to do business," said Simon Kirby, economic secretary to the Treasury.

"The government is determined that London stays at the cutting edge of financial innovation and that’s why we will host a new, annual fintech conference to boost capital investment in one of our fastest growing sectors."

Britain's blossoming fintech sector now employs over 61,000 people and, in 2015, generated £6.6bn in revenue. 

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However, a report produced earlier this year by professional services firm EY also noted the sector could do more to attract capital investment, which is something the conference will aim to address. 

There has been some concern raised recently that the Brexit vote could lead to fintech firms moving away from London. In particular, fintechs, like banks, are concerned the final deal could gloss over their passporting needs, while clamping down on freedom of movement could see their access to talent run dry