UK Seeking Global Financial Technology Leadership - Cameron

London is trying to achieve a global financial technology leadership, David Cameron said.

MOSCOW (Sputnik) — The United Kingdom is striving to become a global financial technology center, British Prime Minister David Cameron said Thursday.

"This government wants the UK to be the leading FinTech centre in the world," Cameron said in a press release.

Cameron is currently on a four-day trip to Indonesia, Singapore, Vietnam and Malaysia, accompanied by a delegation of 31 UK businesspeople. The delegation is seeking to capitalize on the opportunities provided by the emerging markets of South East Asia.

The statement came after Innovate Finance, a UK financial technology lobby group, released a manifesto, in which it set the goal of creating an extra 100,000 jobs in the sector by 2020.

According to the manifesto, some 135,000 people currently work in the sector in the United Kingdom.

Innovate Finance expects the United Kingdom to be a primary location for 25 global FinTech industry leaders in 2020.

According to Innovate Finance, the total amount of FinTech investment in Europe stands at $1.48 billion on a yearly basis, while Silicon Valley in the United States remains the leader in attracting FinTech investment, at over $2 billion annually.

Innovate Finance expects the United Kingdom to attract $8 billion of venture and institutional investment to this sector by 2020.