
UK To Create Unified Digital Library To Help Fintechs Navigate Regulation
The UK’s Regulatory Innovation Office (RIO) will work with the Digital Regulation Cooperation Forum (DRCF) to simplify regulatory processes for fintech firms.
The initiative aims to address fragmented rules that can delay product rollouts and discourage investment. Technology Secretary Peter Kyle said regulatory complexity affects innovation and especially burdens smaller firms without dedicated compliance teams. The collaboration will result in a unified digital library, offering centralised access to digital policies and regulations. This is intended to support fintech companies in navigating regulatory requirements more efficiently. The initiative aligns with the government’s broader growth strategy, which identified fintech as a key sector.
In 2023, the UK fintech sector attracted USD 3.6 billion in investment, underlining its role in the national economy.