Both organisations will work together to champion and help FinTech firms connect and build their businesses and ecosystem on both sides of the Atlantic.

The collaborative partnership will forge closer FinTech ties between New York and London – making it easier for companies to expand their operations from the world’s two biggest financial hubs and the leading global cities for FinTech.

Alastair Lukies CBE, Chairman of Innovate Finance said: “As the next wave of innovation in financial services begins to evolve, we are seeing London and New York emerge as the epicentres of collaboration between the incumbents and disruptors, between regulators and innovators, and investors and entrepreneurs. The partnership with BritishAmerican Business provides an ideal platform for both organisations to continue to champion the global agenda for the FinTech ecosystem, and to maximise benefits to their respective members on both sides of the Atlantic.”

Jeffries Briginshaw, Chief Executive of BritishAmerican Business said: “We are delighted to partner with Innovate Finance to bridge our memberships in the US and UK along the axis of FinTech. The pace of innovation in this sector is rapid, and we aim to be out in front as we agree the collaborations that will drive an exciting joint program for 2016 and beyond – initially focused in New York. Our ability to provide information, access, and influence among our members and policymakers will be significantly enhanced by this cooperation.”

A major highlight of the partnership initiative is an annual transatlantic FinTech event in New York that will bring members from both organisations together to celebrate the sector’s accomplishments for the year.

The organisations will also create the world’s first transatlantic advanced FinTech course between two top universities in the US and the UK, to be announced in early 2016.

Hogan Lovells, the global strategic legal partner for Innovate Finance and a member of BritishAmerican Business, will provide legal counsel for the alliance. Commenting on the new agreement Rachel Kent, partner at Hogan Lovells, said: “We are delighted to support Innovate Finance and BritishAmerican Business in this new initiative. Given the strength of our own transatlantic and regulatory capabilities, particularly in New York, Washington and London, we look forward to helping nurture the FinTech entrepreneurs and emerging businesses that this alliance will foster."