Speech given by Mark Carney
Governor of the Bank of England
Chair of the Financial Stability Board
Deutsche Bundesbank G20 conference on "Digitising finance, financial inclusion and financial literacy", Wiesbaden
25 January 2017
Ecclesiastes 1:9 What has been will be again, what has been done will be done again; there is nothing new under the sun.
1. FinTech's Shining Future
It is a pleasure to be at Schloss Biebrich as part of this Bundesbank conference on "Digitising finance, financial inclusion and financial literacy."
Just a few hours ago, I was in the world's leading FinTech centre. One which generated £6.5 billion in revenue, attracted just over £500 million in investment and employed around 61,000 people in 2015 [See Ernst and Young, (2016), "FinTech on the Cutting Edge"].
From start-ups in London's Silicon Roundabout to established players in The Valley, entrepreneurs are applying their creativity and technical ingenuity along the financial services value chain.
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