UK fintech sector calls on Government to tone down hostile immigration policy

Innovate Finance, an independent membership association that represents the UK’s global FinTech community, has warned about the threat to the fintech sector from a tightening of the rules on overseas workers. The UK fintech sector currently employs some 76,500 people, of whom 42% are from overseas — 28% from European Economic Area (EEA) countries, and 14% from non-EEA countries. Innovate Finance estimates that the sector is set to grow to more than 100,000 employees, and the number of UK fintech companies more than double to 3,300, by the year 2030. However, 82% of companies say they already face difficulties in recruiting non-EEA migrants.

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