The new Financial Data and Technology Association (FDATA), which will formally launch later this month, has welcomed the commitment made to the financial data aggregation industry by the Government in its Autumn Statement.
In paragraph 1.171, the statement announced “support for fintech firms who want to use bank data to help consumers and small businesses make better decisions”.
Commenting, FDATA’s Director Andy Maciver said:
“This was a very welcome inclusion into the Autumn Statement, and a boost for our members and other companies who are trying to make it easier for people to manage their money. Apps and services like those of our members are available elsewhere in the world, and today the government has made it clear it wants to see them here, too.
“The government also announced today that there will be a call for evidence, and we look forward to playing a constructive part.”