UK Government Digital Secretary Matt Hancock has been busy this past month, developing new initiatives which are sure to benefit the financial technology in the fintech hub that is the city of London.
This week, the London Office for Rapid Cyber security Advancement (LORCA) opened its doors in East London, which will be run by the technology innovation center Plexal and was launched by Hancock himself.
With the intention of helping the UK's newest cyber security startups with their growth, it also desires to ensure that the nation can establish itself as a global leader amid online threats.
As Lloyd's Banking Group is the center's first founding partner, this means that there will always be a close association at LORCA between finance and security in technology, another advantage for London fintechs.
According to Computer Weekly, this center will also help startups that do specialize in artificial intelligence, augmented reality and the internet of things. "We now have the chance to build on what we have done over the past decade and truly capitalize on this opportunity. Cutting-edge technology is ultimately the future of our economy.