The paper looks to position Guernsey so that it is well placed
to take advantage of opportunities in the current digital age.
In order to understand those fintech opportunities and to ensure
that Guernsey has the appropriate infrastructure in place to,
Commerce and Employment, through the Finance Sector Policy Unit,
engaged PwC to carry out research on the sector and Guernsey's
infrastructure. The project included analysis of the local and
international environment within the fintech sector to identify key
market attributes and future direction and the involvement of local
and off-Island industry experts and stakeholders.
Commerce and Employment said it recognised the significant
opportunities fintech presents within, and complementing, the
existing finance industry and its role in maintaining and enhancing
Guernsey's position as a key international finance centre.
Commerce and Employment Minister Kevin Stewart, said: "I am
delighted with the in-depth analysis which PwC have undertaken on
behalf of the department so that we can more fully understand the
fintech sector and opportunities for the Island. This collective
piece of work has highlighted that Guernsey is already doing much
in this area and that if some key areas, as identified in this
report, continue to be addressed, then the Island is well placed to
take advantage of and become an even more important player for
fintech, where new and established businesses can
Nick Vermeulen, PwC Partner at the helm of this project,
commented: "A really positive message to take away is that our
analysis confirms Guernsey is already perfectly placed as an
extremely attractive location for the fintech sector. Businesses
should be confident that this solid foundation for fintech here is
principally due to Guernsey's existing regulations, expertise,
and well-established track record as a trusted location and our
long-term credibility as an international finance centre of
"We're excited by the substantial level of new
opportunities identified for Guernsey in fintech and the potential
this sector has to transform our local financial services and
technology industries here on the Island. Now that the strategy has
been published, it's crucial that we keep the momentum going
and fully embrace these exciting opportunities."
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).