The government is keen to explore opportunities in the fintech sector such as automated advice, as it recognises technological development will be good for both consumers and firms, economic secretary Harriett Baldwin told the Financial Conduct Authority (FCA).
She said the government was keen to figure out a way to bring advice to the mass market in simpler and cheaper ways. She suggested this included looking at how regulation could be made simpler and cheaper for advisers. Eileen Burbage has been appointed by government as UK fintech envoy promoting UK technology regionally and abroad. The government is currently looking at how it can make the financial services market more effective for consumers, Baldwin said. This included financial advice and guidance providers such as the Money Advice Service (MAS) and Pension Wise. "Fintech...
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