Pay.UK Chair discusses success of the UK’s fintech economy at the 2024 Innovate Finance Global Summit

Our Chair, Mark Hoban, recently attended the Innovate Finance Global Summit (IFGS) 2024 to discuss the UK’s world-leading fintech economy.

With a particular focus this year on the global fintech ecosystem, IFGS brought together industry leaders including innovators, regulators, policymakers, and investors for two days of thought-provoking discussion.

On the theme of ‘Brit-Tech Brilliance: The UK Setting The Standard For Innovation Ecosystem’, Mark Hoban detailed how the UK came to be Europe's fastest growing FinTech economy, attributing the country’s world-leading status to innovative regulation that fosters cutting-edge technology.

Our Chair also discussed how the UK can maintain its leading position for the next decade through a regulatory-led, robust landscape that will continue to foster innovation. To this end, Mark Hoban highlighted the need for world-leading payment systems that are ISO20022-compliant and that have open and fair access, and the importance of the Government’s National Payments Vision and Strategy (NPVS) in setting the direction for the future of payments.

He said: “We need to ensure that the policy agenda remains focused on creating the right climate for growth to continue to realise success in the future.”