Fintech and the regulators: Bridges to nowhere?
Despite the fanfare around their announcement, many of the proposed benefits of the 'fintech bridges' or bilateral agreements the UK government has reached with regulators around the world have yet to be realized.
Fintech bridge agreements are described as “a bespoke agreement outlining collaboration between two governments, cooperation between regulatory bodies and connectivity between ecosystems that encourages the sharing of information, including emerging trends and regulatory issues, with counterparts and discussions around areas of best practice”.
Russ Shaw, Tech London Advocates
According to Russ Shaw, founder of Tech London Advocates, these bridges are an opportunity for UK fintechs to access growth capital and sizeable markets in other countries.