quirements (“OESs”).
Unlike the UK GDPR, the NIS Regulations focus on the security of IT systems, rather than the security of the personal data processed by those systems. Accordingly, the scope is limited to those operators and services which, if disrupted, could potentially cause significant damage to the UK's economy, society and individuals' welfare.
Foreign FinTech firms do not otherwise encounter barriers that are different from those encountered by domestic FinTech entities.
Economic conditions
Market size for identification services and biggest companies in this business area
Like the FinTech industry generally, the market for identification services in the UK is growing. Key companies include Sumsub, Onfido and Credas.
Whilst the market breakdown for FinTech identification services is not expressly discernible, see 1.a.i for a more general overview of the FinTech sector.
Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area
N/A