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ARTICLE · 28 FEBRUARY 2019

Guernsey – Why Is It A Centre Of Fintech Excellence?

The current digital age brings with it new challenges and opportunities for the finance sector.

GuernseyTechnology

Background

The current digital age brings with it new challenges and opportunities for the finance sector. As far back as 20th July 2015 the States of Guernsey released their report 'A strategic vision for FinTech' drafted by PwC and contributed to by more than 70 representatives of localindustry and the FinTech sector including Dixcart Trust Corporation Limited.

FinTech, as defined by the European Commission, is the combination of innovative financial services and the availability of capital through the use of new (digital) technologies.

Broadly speaking FinTech can be currently divided into four sectors;

  • payments and currencies (crypto-currencies, currency exchanges, mobile money and payment apps),

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