The Department for International Trade (DIT) has announced that NorthRow has been selected to join the 2nd Annual UK trade mission to Empire FinTech Week in New York. NorthRow will be joined by the likes of OakNorth, Starling Bank, The ID Co, CUBE and Access Pay on the trade mission in just over a weeks’ time.
The recruitment process was highly competitive and focused on leading UK FinTechs actively entering the US market. Over 100 applications were submitted by market-ready UK FinTech firms, and the DIT then whittled it down to 15 successful applicants.
The mission is taking place from 16th-20th of April next and is a blend of conferences, round-table discussions, demo days, meetups and networking events that take place across New York. Attendees will have the chance to meet with potential partners, engage with US regulators and gain invaluable insights into overcoming the many barriers that stand in the way of scaling into the US market.
Adrian Black, NorthRow’s CEO commented “NorthRow has already proven its reputation for developing market-leading products and solutions in both the UK and Europe. As part of our growth strategy, we are now expanding internationally and are looking forward to showcasing our solutions and expertise to the US market.”
NorthRow has recently been appointed to support the Open Banking Institute Entities (the OBIE) with their identity-proofing and verification processes in the UK, and believe that other countries are likely to follow suit. “Open Banking is a new, secure way for customers to take control of their financial data and to share it with organisations other than their banks. As a result, FCA-regulated parties will be able to apply to access the data, therefore thorough and comprehensive verification checks are paramount. NorthRow’s platform provides the OBIE with a flexible, customised solution, with fully automated identity verification delivered in real-time, via a single API – essential for high-speed onboarding” he added.
Founder of Empire Startups, Jon Zanoff, added: “Empire FinTech Week in New York will unite the global FinTech ecosystems and truly promote transatlantic innovation. As the week will highlight the best and the brightest in FinTech, we couldn't be more thrilled to welcome the UK delegation”. Source: Finextra
In summary, due to the increased regulatory pressures that all business now face, the RegTech market has a truly global remit and as Alan Gleeson, Chief Marketing Officer at NorthRow, explains NorthRow can help international businesses meet their compliance obligations regardless of the location in which they operate in.
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