The UK’s biggest fintechs are reportedly set to meet with Treasury and Financial Conduct Authority (FCA) officials next week, aiming to make the country a more attractive place to operate.
Ministers have been on a charm offensive in recent months, hoping to persuade some of the UK’s top fintech startups — some of the most successful in Europe — not to abandon the country when the time comes to float on the public markets.
Homegrown success story Revolut only recently won its UK banking licence after a five-year tussle with regulators, a fact that may have contributed to applications dropping to zero in 2025.
City Minister Lucy Rigby and FCA chief Nikhil Rathi will come face to face with the leadership of the country’s fintech unicorns on Tuesday, City AM reports, as part of the agenda for UK Fintech Week.
Members of the Innovate Finance Unicorn Council — which also counts Monzo CEO Diana Layfield, Revolut UK CEO Francesca Carlesi and Oaknorth cofounder Rishi Khosla among its number — will be in attendance.
Sources told City AM they expect the meetings to table the government’s push for deregulation and incentives for listing in London. A Treasury spokesperson declined to comment.
“We want to showcase that the UK is the place to establish, innovate and grow and that we have the services to support fintechs at whatever stage of development they’re at," says an FCA spokesperson.
Buy now pay later fintech Zilch was also said to be hosting another meeting with Rathi on Monday at the Emirates Stadium, to discuss the UK’s strategy for supporting fintech international expansion and boosting its position as a hub.
Attendees are reportedly set to include Starling chief financial officer Declan Ferguson, Allica CEO Richard Davies and Clearbank cofounder Charles McManus.
A spokesperson from the company said Zilch is looking forward to discussing the "huge opportunities" for the UK to become the best place for fintechs with regulators and peers.
The government has been working to strengthen the UK’s position as a destination for fintechs. UK finance minister Rachel Reeves announced in October that scaling banks and insurers would get bespoke regulatory support, with plans to offer the aid to other fintechs from this year.
