It’s a mix. Many of these innovations came into existence before their EU counterparts. Faster payments, for example, is a completely different system to instant SWIFT payments which most of the EU uses.
Having said that, Denmark is another notable country for its innovation financial systems, ahead of the U.S., many of its EU neighbours and in some areas ahead of the UK.
But the UK has always had a vibrant and innovative financial services sector. Something the EU always had a bit of love-hate relationship with, and something Brexit has seriously damaged.
> But the UK has always had a vibrant and innovative financial services sector. Something the EU always had a bit of love-hate relationship with, and something Brexit has seriously damaged.
To be fair, most of the regulations were EU ones, but they were driven by the UK as a member, and they supported them nationally.
Contrast Ireland, which has the same EU regs but is much, much further behind the curve because our regulators focus on different things.
Having said that, Denmark is another notable country for its innovation financial systems, ahead of the U.S., many of its EU neighbours and in some areas ahead of the UK.
But the UK has always had a vibrant and innovative financial services sector. Something the EU always had a bit of love-hate relationship with, and something Brexit has seriously damaged.