Financial services strategy sets out how we can make a difference to the industry

Financial services strategy sets out how we can make a difference to the industry

21 Sep 2010

We have today published our Financial Services Strategy which builds on the work we have been doing in the area of high value services for the UK economy.

We believe that financial services offer  the greatest opportunities for us to make a difference in technology-related investment in high value services. 

The UK has world class capabilities in financial services, particularly in areas of complex international finance such as banking, capital markets, asset management and insurance/reinsurance. The industry has historically been a significant employer and contributor to the economy, while many of the most innovative developments in finance have come from the City and other financial centres such as Edinburgh. 

However, the recent financial crisis has cost billions of pounds, tarnished the image of some of the largest financial institutions and called into question the culture of the entire industry. The response to the crisis will require the involvement not just of government and regulators, but also of practitioners and academics.  We aim to bring greater focus on technology, know-how and behaviours to address the key challenges of risk, value transparency and system efficiency.  By encouraging cross-industry working on these challenges, we aim to support the industry in maintaining its globally competitive position and delivering growth at a level that is sustainable for the longer term.

Financial Services KTN

One of the key ways in which we will delivery of our strategy is through the Financial Services Knowledge Transfer Network.  The FS KTN was launched in late 2009 and comprises a dynamic network of organisations, led by FS-Net, with the aim of connecting financial services companies and practitioners across the industry, while engaging with regulators and academics.  Its ultimate goal is to improve the performance, sustainability and contribution of the financial services industry to the UK economy and its citizens.  For more information about the FS KTN or to become a member visit the Financial Services Knowledge Transfer Network.

View the Financial Services Strategy Executive Summary.

View the full Financial Services Strategy document.

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Last updated on Tuesday 28 September 2010 at 09:45

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