The head of the UK's Financial Conduct Authority has pledged to help "unlock" the benefits of financial technology innovation at the launch of a new support service for fintech start-ups in London today.

Speaking at the launch of the Innovation Hub at Financial News and WSJD's inaugural Fintech Conference in London, Martin Wheatley, chief executive of the FCA, said: "Innovation can be a driver of effective competition. So we want to support innovation.