Last week the long-awaited Kalifa Review was published. Including a comprehensive list of suggestions that Rishi Sunak is definitely considering:
Commenting on the fintech review, Virraj Jatania, CEO and Founder of Pockit – the leading UK fintech – said:
“Entrepreneurs across the whole UK fintech sector will welcome today’s report with open arms. These ideas and initiatives can breathe new life into our industry. They can set the scene for accelerated growth, keep businesses basedin the UK, create new jobs and help people develop specialist skills.
“The fintech sector is a key growth engine of the UK economy, and can be a centrepiece of our Covid-19 recovery. But for the sector to achieve its potential we need to roll out the welcome mat to fintech talent from across the globe and to improve access to investment. This needs to happen now. Today’s proposals must not become lodged in the machinery of government.
“A flourishing fintech sector can address social policy issues too. Fintechs can help the financially excluded, low income and unbanked consumers to cross the digital divide and find new ways to manage their money – simply and safely. Therefore, Government and fintechs must work together to ensure the recommendations in today’s report also benefit the everyday consumer, and that people have the skills, confidence and understanding they need to unlock the opportunities of digital payments and financial management of their own affairs.
“Companies like Pockit are driving this inclusion – with credit score building, cashback schemes and by helping customers switch to Direct Debit and save on bills – but the sector needs a joined-up approach to really make a difference.”
Founded in 2014, Pockit is the British financial services platform that is focussed on the financially underserved, low income and unbanked consumers in the UK: those left behind by the high street banks.
Pockit has over half a million customers in the UK. They provide a current account, international money transfers and products to help customers build their credit score and to assume greater control and understanding of all their financial affairs. Pockit customers can also earn cashback at a range of major retailers, whenever they use their prepaid card or the app: Sainsbury’s, Primark, Foot Locker etc. Pockit wants to give people a simple way to manage money.
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