Is Brexit the end of UK FinTech?
For over a decade, Contactless Intelligence has created inspiring dialogue - across applications, across technologies and across many EU member states. The UK, and especially the City of London, has been an outstanding example of how economic growth can be achieved through the right use of contactless and mobile technology. Is this role as European champion of contactless about to change?
There seem to be a never-ending number of surprises in UK politics during the last 12 months: the latest occurred only last week: The Prime Minister, Theresa May, called a general election for June 8, amid polls that indicate she could win a huge Tory majority in Parliament and secure her Conservative vision for Brexit. May said, “We need a general election and we need one now because we have at this moment a one-off chance to get this done while the European Union agrees its negotiating position and before the detailed talks begin.”
Supporters of the Prime Minister said she would use the election to crush dissent over Brexit, with one projection by the election expert Michael Thrasher suggesting she could secure a majority of 140 on the basis of current polls. His estimate suggests the number of Tory MPs could rise from 331 to 395, with Labour potentially slumping from 229 to 164. Brexit, it seems, will be inevitable.
Which is why, in the current state of affairs, it is fortuitous that during the Contactless Intelligence Conference this coming Friday, there will be a track discussing the topic of Brexit and FinTech in the UK; titled “Will the UK FinTech market survive Brexit?”. Moderated by Kristian T. Sørensen of Norfico and comprising of a panel of consultants and innovation hubs from the UK and mainland Europe that includes Stewart Roberts – Executive Chairman of iZettle Capital, Ghela Boskovich, Head of Fintech partnerships at Startupbootcamp Fintech, Adizah Tejani – Technology Executive at Token UK, Tim Richards – Principal Consultant at Consult Hyperion and Omer Paz – COO at PayKey.
The UK has long been a hub for innovative companies in the technology and financial sectors, with a tradition of nurturing new talent – from contactless, to Bitcoin and beyond. But with Brexit on the table and other countries vying to offer attractive alternatives, will the UK be able to retain its FinTech players? There is much uncertainty surrounding this topic and other countries and capitals, including Germany and the Nordic regions are all trying to attract these new innovative FinTech companies to relocate to their particular cities.
It is going to be an interesting session and one we hope you can attend.
The Brexit debate is an important part of this year’s focus topic - Transforming the ways we pay. We are excited, that, once again, we are bringing international experts together that have real insights into the world of contactless and mobile payment as well as the rapidly growing segment of transportation and ticketing. From the success of Alipay in France to Dutch Translink Systems and contactless payment Reading buses - during the Contactless Intelligence Conference next week, Brexit will still feel far far away.
You can find further information on the conference taking place this Friday by following this link. Its also not too late to register for the conference and you can do so by following this link here.
And if you are already registered - I’ll see you on Friday!
Steve Atkins
Contactless Intelligence
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