E-Business publication, FinTech Finance, has recognised the Isle of Man as FinTech Region of the Year in its 2016 awards.
Presented at a ceremony in London on the 8th December, the award identified the Isle of Man for its quality of professional services, regulation and level of investment in the sector. The Isle of Man fought off the other finalists, Malaysia and Northern Ireland, to secure the accolade.
Laurence Skelly MHK, Minister for the Department of Economic Development commented:
‘E-Business is the Isle of Man’s fastest growing sector and now contributes to approximately 28% of GDP. The Department has been instrumental in securing both private and public sector investment in the infrastructure to support this growth, along with attracting many new businesses to the Island as a result. FinTech is an exciting avenue for the Isle of Man’s e-Business sector, drawing on the Island’s years of experience within financial and professional services. It is fantastic to be recognised for these achievements.’
The award was accepted by Brian Donegan, Head of e-Business Operations at the Department of Economic Development, who commented:
‘The Isle of Man has worked hard to create an eco-system where FinTech and e-Businesses can thrive. We have both financial assistance schemes and a technological offering that includes 97% 4G broadband coverage and six tier 3+ data centres. This combination now makes the Isle of Man an extremely attractive location for new and established FinTech and e-Businesses. 2016 has been another great year for growth in this sector and I was delighted to accept the award on behalf of all the Island’s businesses.’