FCA: UK Regtech Hype Has Cooled
The UK financial regulator is seeing fewer entrants into the industry as start-ups struggle to break into the market.
The UK regtech industry is struggling to realize its promised potential, said Nick Cook, the director of innovation at the Financial Conduct Authority (FCA), who was speaking at this year’s Sibos conference.
“I think in the UK market, regtech as an offering is somewhat struggling and plateaued at the moment. We see a reduction in the number of new entrants into the regtech ecosystem,” he said.
In the US, the situation is different, he added, with a lot of interest still evident among
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