Reactive News Statement

Reacting to the release of the ‘Financial Services Skills Taskforce: Final Report’ which was launched by HM Treasury and convened by TheCityUK in London, Fintech Envoy for Northern Ireland Andrew Jenkins said:

I very much welcome this important report which identifies the key challenges which need to be addressed to meet the long-term needs of the financial services and technology sector now and in the future. Skills and talent development are undoubtedly issues which require action to meet the many evolving aspects of the industry.”

“The UK is undoubtedly a world leader in the financial services with Northern Ireland playing a strong role but we cannot stand still, we have to continue to move forward and identifying the trends which are impacting upon further growth is essential to transforming the workforce and the sector as a whole.”

“The issues identified in this report are true right across the UK and despite vibrant ecosystems in Belfast, London, Edinburgh and Cardiff, we need an effective strategy and overarching vision to continue to be a world leader for the next decade and beyond.”

“We have a flourishing sector in Northern Ireland, but competition is strong and we are not only competing with other UK cities but also right across the world. To remain competitive, we need to invest in those with the talent and skills which can drive us forward.”

““As the government appointed Fintech Envoy, I am working to bring forward a strategy which will positively showcase the potential which exists for the Fintech sector in Northern Ireland and which will develop and promote a sustainable, diverse and collaborative world-class Fintech sector.”

“I have already identified several priority areas and addressing the issue of skills and talent which focus on future skills is key to this. It is important that we create the environment which places inclusion and diversity at its core and which will inspire the current and future generation of innovators. Moreover, we particularly need to address the issue of attracting and retaining talent in Northern Ireland. Currently, one third of our students take up university places outside of Northern Ireland. We need to be imaginative about developing initiatives that encourage talented young people to stay as well as promoting Northern Ireland as an attractive place to come back to and live.”

“The recommendations set out in this report will be key to realising our potential in the Fintech sector.”

The final report can be viewed here.