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Jersey 'could be FinTech leader'

Jersey 'could be FinTech leader'

Friday 07 February 2020

Jersey 'could be FinTech leader'

Jersey is "perfectly" placed to be at the forefront of both FinTech and Artificial Intelligence innovation, according to two global technology experts.

The comments came from Nick Ogden, recognised as one of the founding fathers of Fintech, and Dame Wendy Hall, Regius Professor of Computer Science at the University of Southampton and Co-Author of the UK Government’s AI Review, as they spoke at Digital Jersey's Annual Review presentation.

Mr Ogden started WorldPay in Jersey in the 1990's and went on to create the first clearing bank in the UK in 250 years. He came back to the island to launch his latest business venture and said Jersey’s reputation and experience as an International Finance Centre, combined with support from government and regulator, means the island can be at the forefront of fintech innovation. 

Dame Wendy, who will be working with Digital Jersey to develop local AI training for islanders, told the audience that Jersey’s autonomy and 'sandbox culture' could help it become the AI start-up choice.

The UK government's Skills Champion also believes opportunities will come due to the EU over-regulating AI and stifling innovation there.  

Digital Jersey CEO, Tony Moretta, said Jersey would be having a greater presence at global FinTech events while continuing to promote its sandbox opportunity and connectivity.

“2019 was a year for investment and bolstering our foundations," he said. "This year we will be forging ahead with not only fintech, but also digital health, IoT and AI, and making a positive difference to every islander.”


Pictured: Jersey's digital twin could give the island the opportunity to be "an exemplar jurisdiction".

Kari Aina Eik, Leader of the United Nations Smart Sustainable Cities programme, said Jersey had a unique opportunity to be an exemplar jurisdiction thanks to its digital twin, in which every building has been mapped.

The model can take data from any source allowing decision makers to visualise the impact of different planning scenarios and includes data from AirSensa’s air quality monitoring system.

Senator Lyndon Farnham, Deputy Chief Minister and Economic Development Minister, also attended the event and promised continued government support and funding.

He said: “Digital isn’t a sector, it’s in all of our lives and we need to be bold and innovative and make 2020 the year of pushing boundaries.”

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