Fintech and the Isle of Man
E-Business is a thriving sector in the Isle of Man and is the Island’s fastest growing sector, contributing to approximately 28% of GDP according to the Department of Economic Development. E-Business encapsulates a number of sectors including e-gaming, which is well known to most readers, and Fintech.
What is Fintech?
“Fintech” is a sub-sector of the eBusiness sector and stands for Financial Technologies; that is, technologies used in the financial services sector. The Isle of Man has shown great enthusiasm for the Fintech sector and the development of Fintech products.
The established finance and e-gaming sectors, along with the technical infrastructure, have made the Fintech market a natural fit in the Island. Government has quickly established regulatory and fiscal control, processes and procedures to allow Fintech businesses to establish on the Island while providing necessary protection for both businesses and customers.
You can read more about the regulatory position in the Isle of Man, crowdfunding and start-ups in the full version of this article below.