| Link(s): |
| Supporting fintech in the next phase of innovation | FCA Scale-up Unit: supporting fast-growing, innovative firms | FCA |
Context
The FCA has published a speech by Jessica Rusu, FCA Chief Data, Information and Intelligence Officer, at the IFGS UK FinTech Week. Rusu notes that, 25 years ago, e-commerce changed how we buy, and that the UK is one of the most digitally mature retail markets, with roughly one in every 4 pounds spent online – among the highest e-commerce penetration rates globally.
Key points to note and next actions
- UK Fintech contributes more than £11bn annually to the economy. In 2025, it received $15bn deployed across 445 disclosed deals, reflecting continued global investor confidence.
- 75% of UK adults use fintech services, and Open Banking has reached over 16 million users – a scale few markets globally can match.
- Agentic commerce will change how financial decisions and transactions are made, demanding a fundamentally new approach.
- The FCA is expanding practical support for firms through the next phase of its AI Lab.
- Open Finance will provide the foundations of a more intelligent financial system.
- The FCA is supporting solo-regulated firms to ‘scale-up’, with its Scale-Up unit open for expressions of interest (FCA solo-regulated firms can register their interest and check the FCA’s eligibility criteria; the FCA will formally open applications in May 2026).
- Rusu introduces the next phase of the FCA’s AI Lab, discusses the ‘Open Finance roadmap’, and comments on helping fintech firms to scale-up.