The Department for International Trade (DIT) is looking for the best UK RegTech companies to join it on a trip to New York.
The trip would take place in November and will give these companies a change to showcase their solutions to the US market, engage with American regulators and venture capital firms. Ideal candidates for the journey are those who are actively looking to enter the US market or to expand their presence there.
However, businesses only have until September 12 to apply. Antony Philipson, HM trade commissioner for North America, expressed his excitement about the upcoming venture. “The UK represents the cutting edge of regulatory technology and our unparalleled sector expertise helps guide financial services firms across the globe,” he said.
American FinTech providers are seemingly facing a few upcoming challenges. For instance, regulators in a handful US states have recently began to look into how the pay-access apps should be regulated.
RegTech Analyst’s research has showed that even though North America is still the world leader in RegTech investments, Europe is slowly taking a bigger slice of the market.
Back in 2014, North America received 67.2% of the global RegTech investments. In 2018, that figure shrunk to 51.2%. During the same time, Europe’s share of the investments jumped from 23.6% to 34.8%.
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