"We didn't have a great year," admitted Innovate Finance chief executive Lawrence Wintermeyer, speaking to City A.M..
"We think the overall figures for the year are disappointing, but we've been given rational explanation from the industry. There is global uncertainty, and there's more uncertainty around financial services in the UK than fintech. We still came in third"The group, which represents hundreds of businesses, remains cautious for 2017 but identified several promising factors which it hopes will restore momentum. Read more: Ireland targets UK fintech startups mulling Brexit contingency plans "Some of the uncertainty around Brexit has been removed with the UK government’s focus on leaving the single market and developing global trade," said Wintermeyer.
"Innovate Finance welcomes the Prime Minister’s commitment to maintaining the UKs position as the preeminent global financial services centre and to ensuring the UK remains a magnet for global talent.”Some in the UK tech industry have also pointed toward the UK benefiting from the uncertainty of the Trump administration.