FinTech Scotland welcomes Google Cloud to the fintech cluster
Google Cloud is joining forces with cluster management organisation, FinTech Scotland, to support the growth of the fintech small and medium enterprise community in Scotland.
With most fintech firms using cloud solutions to integrate more easily with their clients cost-effectively, the addition of Google Cloud to FinTech Scotland’s cluster will further enable new innovation at speed as well as benefiting from Google’s cloud knowledge and expertise.
This will especially be valuable to the growing number of fintech enterprises focused on data-driven innovation to improve financial services and products.
Google Cloud will join a broad range of large financial services enterprises and global technology and professional services providers in supporting the growth and development of the innovative fintech SME community .
Since its launch in January 2018, FinTech Scotland has been growing the number of global organisations involved in the cluster to bring innovation and collaboration opportunities to the fintech SME community.
Google Cloud’s strengths in data capabilities plus the innovative and entrepreneurial nature of Scotland’s fintech community will help further develop Scotland’s position as a major global fintech cluster.
Scotland’s fintech cluster is continuing to grow, evidenced by the growing number of fintech SME firms, innovation and research initiatives with universities, plus the collaborative support from government and global organisations.
“We very much welcome Google Cloud expert engagement with the fintech community and cluster as it acts as a further boost to driving impactful innovation. Google Cloud data capabilities and know-how will certainly be of great value to the innovative SME community in Scotland.”
Stephen Ingledew, FinTech Scotland’s executive chair
Leadership Team Developments for FinTech Scotland
FinTech Scotland is today announcing a number of leadership team developments as it looks to build on the progress made over the last couple of years in developing the fintech community and cluster in Scotland
From November, Stephen Ingledew will become executive chair of FinTech Scotland after leading the body as chief executive from its initial formation in January 2018.
Stephen will remain very much involved with the strategic leadership of FinTech Scotland and the move to executive chair will enable the body to develop further the leadership team as it looks to build on the impact to date as a cluster management body.
David Ferguson, the current non-executive chair of FinTech Scotland, will step down from the role which he has held for over two years. David will continue to actively support FinTech Scotland move into its next phase.
Over the coming months, FinTech Scotland will commence the process of appointing a new chief executive to take over from Stephen and it anticipates being in a position to complete the process by the end of the year.
In the interim , from early November Nicola Anderson, the current strategic development director of FinTech Scotland, will take on the role of acting chief executive.
Nicola has been on full time secondment with FinTech Scotland from the Financial Conduct Authority for two years and has played a significant role with Stephen, Mickael Paris and Shery Johnston in supporting the fintech SME community and the rapid progress of fintech initiatives.
In addition, to his role of executive chairman for FinTech Scotland, Stephen will take on a part time secondment to Scottish Enterprise as an interim director for six months from November.
Stephen will report to Linda Hanna, Managing Director of Scottish Enterprise, and will contribute to the development of future strategic opportunities to support economic recovery.
In addition, Stephen has recently been appointed to the newly formed UK Government Innovation Expert Group set up to advise on driving productivity through innovation. https://www.gov.uk/government/groups/innovation-expert-group
Commenting on the leadership announcements, Stephen Ingledew said
“It has been a privilege to lead FinTech Scotland and deliver significant milestones across the fintech cluster. This is the right time to further strengthen further the leadership team.
I’d like to take this opportunity to thank David for his valuable leadership as chair as well as the fintech community and strategic partners whose ongoing collaboration to date has made the progress possible.
I look forward to working with the Scottish Enterprise team to accelerate and shape strategic programmes, sharing my experience of developing clusters to drive inclusive innovation and economic opportunities”.
David Ferguson, the chief executive of Nucleus Financial said,
“It’s been hugely interesting seeing FinTech Scotland come into being and to see Stephen do such a great job of generating momentum over the last couple of years. I’m grateful to everyone who has joined in and helped carry us to the point where things are so well set up for the next phase”
Announcing 2020 Scotland’s Fintech Festival
FinTech Scotland confirmed today the programme for the third Scotland Fintech Festival.
The September festival will see a diverse range of fifty plus events throughout the month sharing fintech developments in Scotland and from around the world.
The festival will build on the successful events from the last two years which has seen it grow in popularity welcoming thousands of people
The 2020 edition will be different with events being held online and the virtual nature of this year’s festival will provide the opportunity to reach an even broader global audience.
The large number of events range from very focussed one-hour sessions to full day generalist digital conferences involving a diverse set of contributions from participants.
FinTech Scotland has worked in close collaboration with the teams at Scottish Development International and Visit Scotland to showcase the very best in innovation with a strong global emphasis.
The fintech cluster in Scotland is maintaining the momentum despite the current economic uncertainty. In many respects, the challenges of the pandemic have driven an accelerated adoption of fintech innovation, very much reflecting the creativity and adaptability of fintech entrepreneurs and SMEs.
This year’s festival will offer plenty of occasions for the innovative firms in the community to share their propositions as well as the collaborative and inclusive approach to reinventing the financial world and more.
Economy Secretary Fiona Hyslop said:
“I’m pleased to be supporting the FinTech Festival, an event which will demonstrate yet again the collaborative and innovative approach of the sector.
“We want the tech sector to play a key role in our economic recovery, and this festival will be a chance to discuss how FinTech can lead the way in supporting growth and creating jobs.”
Stephen Ingledew, Chief Executive at FinTech Scotland said:
“More than ever before this year, we have appreciated the valuable engagement and collaboration of our strategic partners and friends in hosting events on such a broad range of themes. From fintech firms , citizen groups, the regulator, student associations, universities, financial firms, global enterprises, government bodies and many others all reflecting the inclusive nature of Scotland’s fintech cluster.”
All events can be accessed on www.scotlandfintechfestival.com where new events are being added daily.
Follow the festival on social media #ScotlandFintechFestival
Significant Funding Boost for Scotland’s FinTech Cluster
The growing international role of Scotland’s fintech cluster was given a further significant boost today with the announcement of £22.5 million innovation funding for the Global Open Finance Centre of Excellence (GOFCoE) to be established in Edinburgh and the Central region.
The news was confirmed by UK Research and Innovation, the Government research funding agency, as one of seven proposals being funded by the Strength in Places Fund aimed at supporting innovation and economic growth.
GOFCoE will provide a trusted environment for participants from around the world to research and develop innovative solutions aimed at delivering social and economic benefits through open banking and financial data.
For example, the initiative will present opportunities to conduct research into public earning, spending and saving to allow innovative enterprises to create citizen focussed financial services as well as enable policy makers to understand the economic and social impact of policies and regulations before implementing them.
The ground-breaking concept and the development of the initiative over the last two years has been led by the University of Edinburgh, FinTech Scotland, the Financial Data and Technology Association (FDATA) and Scottish Enterprise with the support of a broad range of organisations.
The announcement will further bolster the global recognition of Scotland’s fintech cluster, following on from the formal European cluster excellence accreditation earlier this year, by providing the opportunity for greater research and development in financial innovation to support sustainable economic development.
Commenting on this news, Stephen Ingledew, Chief Executive of FinTech Scotland said,
“The news reinforces the value of cluster collaboration between the diverse range of entrepreneurial enterprises, academics, large institutions, government and citizen groups in embracing the role of data in driving financial innovation to benefit all.
With engagement across Scotland, UK and globally, the initiative will further reinforce the inclusive international approach in developing the fintech cluster which is focused on delivering better consumer financial outcomes and sustainable economic growth through innovation.
I would like to pay tribute to my colleagues Kevin Collins and Damien McGarrigle of University of Edinburgh, Gavin Littlejohn of FDATA , Nicola Anderson of FinTech Scotland along with the rest of the GOFCoE project team for their terrific leadership over the last couple of years in securing this funding opportunity.”
Ivan McKee, Minister for Trade, Investment and Innovation, said:
“I have had the pleasure of working with all of the proposals from Scotland in this competition. Each one demonstrates our appetite for innovation and desire to translate this into benefits for people and places across Scotland.
“I am delighted that the Global Open Finance Centre of Excellence is one of the two projects from Scotland that have received funding from this highly competitive fund. This project will unlock the benefits of open banking and will enhance Scotland’s position as a top destination for fintech.”
The University of Edinburgh’s Senior Vice-Principal, Professor Jonathan Seckl said:
“Using real financial data for social good and allowing governments, companies and people to make better economic and financial decisions is at the heart of the Global Open Finance Centre of Excellence.
Never has there been a time of greater need for data-driven insights into the UK economy. The award from the Strength in Places Fund will allow us to make a unique contribution to the economic recovery from Covid-19. The Centre will be a world-first, providing leadership, coordination, research and capability to develop the benefits of Open Finance and to safely unlock the potential of customer data as a force to improve lives.”
Philip Grant, Chair of Scottish Financial Enterprise, said:
“This is great news for the continued development of the fintech cluster in Scotland and a credit to all the partners involved. The collaboration so evident in this initiative is now recognised as the driver of the continued growth and success of financial services as an important part of the Scottish economy.
SFE and our members will continue to support the important work of FinTech Scotland and its ambition to be one of the top five fintech clusters in the world.”
Linda Hanna, Managing Director of Scottish Enterprise, said:
“This award is excellent news for the Fintech sector in Scotland and for our economy as a whole. The Centre of Excellence project sets out to help Scotland maximise the societal benefits of Open Finance, such as enabling quality financial services in disadvantaged areas ”“ in line with SE’s increasing focus on inclusive growth and tackling inequality.
“FinTech is fast becoming one of Scotland’s key sectors and, particularly in the current climate, it is crucial that we continue to build our digital capability and our use of data, making our mark on the digital industries. The project will further boost the recognition of Scotland’s distinction in this field internationally, following on from our recent accreditation as a European Cluster of Excellence.”
Scotland, a thriving fintech sector
As part of the series on “Innovation in finance” the BBC have produced a video exploring the fintech developments in Scotland
It has been produced in collaboration with Innovate Finance, Scottish Enterprise, Direct ID and Fintech Scotland
The video includes interviews with FinTech Scotland’s Nicola Anderson, DirectID’s founder and CEO James Varga and students from the University of Strathclyde in Glasgow and Newbattle High School in Edinburgh
The video covers how fintech is already impacting every aspect of society with the aim of making the world a better and fairer place for all through innovation.
Scotland is highlighted as an ideal place to lead the fintech movement with its rich history of both financial innovation and entrepreneurship. This is in addition to the great work done by universities in producing the talented people of tomorrow as well as the research that will drive innovation. For example, the University of Strathclyde in Glasgow was the first in the UK to launch an MSc in fintech.
As an example of entrepreneurship, the innovative DirectID is showcased to demonstrate how the use of financial data and technology, can help people with low or no credit score access financial products they would previously have been refused.
Scotland is one of the best places to start and grow a fintech business because of the quality and cohesiveness of the cluster. With over 130 fintech firms in the fintech community, 50 established global financial firms, a vibrant tech scene, mobilised world-class universities, a strong presence of the regulator and the support of the Scottish Government.
For this reason, Scotland is attracting more and more fintech firms from around the world and developing a fintech cluster which is innovative, collaborative and inclusive for all “
FinTech Alliance partners with FinTech Scotland to boost global engagement and investment funding opportunities for innovative FinTech firms.
London/Edinburgh, 8.00am, Tuesday 25 February 2020 ”“ FinTech Alliance partners with FinTech Scotland to boost global engagement and investment funding opportunities for innovative FinTech firms.
- Through the partnership, FinTech Scotland’s community and cluster activities will be promoted across the FinTech Alliance platform, which aims to bring access to market, talent and capital to the firms across the UK FinTech space.
- The collaboration is part of FinTech Alliance’s mission to bring together the strengths of the global FinTech ecosystem in one destination, fostering collaboration and supporting the growth of the firms and sector as a whole.
- The partnership will build on Scotland’s recent recognition as a FinTech cluster centre of excellence, reflecting the progress made by FinTech Scotland since its formation in early 2018.
- Since its launch in mid-2019, a number of high-profile companies have signed up to the FinTech Alliance platform including Revolut, Level39, OakNorth and Virgin Money, as well as leading Scottish FinTech firms including Direct ID and Modulr.
FinTech Alliance, an innovative digital platform uniting both the UK and the global financial technology sectors, announces a partnership with FinTech Scotland, the independent body established to develop the FinTech community and cluster in Scotland.
The partnership is part of the FinTech Alliance mission to bring together the strengths of the UK’s FinTech ecosystem on one all-encompassing platform, and to support the continued growth of the sector.
The Scottish FinTech community is innovative, collaborative and inclusive, with Scotland home to a growing number of FinTech firms spanning the full spectrum of financial technologies from payments and blockchain to open banking and RegTech.
Scotland was also home to the UK’s first MSc in FinTech, which is offered by Glasgow’s University of Strathclyde as well as the first FinTech Consumer Panel.
Recently, Scotland was recognised as a FinTech cluster centre of excellence by the European Cluster accreditation body which benchmarks the impact of innovation and collaboration across all sectors of the economy.
The partnership will involve collaborating on a number of initiatives, including global development and engagement with investors.
FinTech Alliance will also support FinTech Scotland throughout next year’s Scottish FinTech Festival in September, developing a programme of events, roundtables and discussions.
FinTech Scotland’s content and activity will appear on its FinTech Alliance microsite and will be promoted by FinTech Alliance across social media platforms and newsletters.
FinTech Alliance will aim to keep the Scottish community at the centre of the conversation each month by creating original content, sharing Scottish FinTech news and regularly profiling Scottish FinTechs on the FinTech Alliance platform.
Each and every company in the FinTech Scotland community will be able to avail of unique offers from FinTech Alliance as part of the agreement. The FinTech Alliance platform enables companies within the community to share news and insight, connect with investors and talent, and keep up to date with policy and regulation.
New features and initiatives are being added to FinTech Alliance’s platform on a regular basis, including a Diversity Hub and Mentoring Hub which seek to build a more inclusive FinTech space and offer support to those wishing to build a career in the sector.
FinTech Alliance launched on 10 June 2019 in partnership with the Department for International Trade (DIT). Over 1,000 individuals and companies already have signed up to the Alliance, including Revolut, Thought Machine, OakNorth and CYBG. As users continue to register from all over the UK and internationally, the collaboration between FinTechs gets stronger. The partnership with FinTech Scotland is the latest example of this.
Stephen Ingledew, CEO, FinTech Scotland, added: “This partnership is a further example of driving FinTech innovation through collaborative relationships. We’re impressed by the progress made the Phil and the team in a short space of time and with our shared values of inclusion and diversity combined with a global mindset we aim to accelerate initiatives to support FinTech enterprises.”
Phil Vidler, CEO, FinTech Alliance, said: “It is both exciting and important to have FinTech Scotland on board. Under Stephen’s stewardship, FinTech Scotland has achieved brilliant things as a strategic enabler to some prominent FinTechs in the UK, and has become the true backbone of Scottish FinTech. This partnership cements FinTech Alliance’s commitment to, and support for, all firms across the UK. It also underlines the real spirit of collaboration we are seeing in the FinTech sector ”“ one that will help all involved grow and prosper.”
FinTech Alliance is open to both individuals and companies. While individuals can register for free, businesses are asked to pay a monthly subscription or annual fee for a presence on the platform. The profits made by the organisation will be used to drive further initiatives and support pre-existing organisations in the UK FinTech community.
To sign up and for further information, please go to www.FinTech-alliance.com.
Double Boost for Scotland’s Global Fintech Ambitions
FinTech Scotland welcomes two significant developments which will support its ambition to become a globally recognised fintech centre.
First, as announced by Scottish Government today, Scotland’s fintech cluster has been formally recognised for its excellence by the European Secretariat for Cluster Analysis (ESCA) which benchmarks economic clusters across the Europe.
The ESCA undertook a benchmarking analysis, based on 36 economic indicators, of the work led by FinTech Scotland resulting in the award of the cluster excellence accreditation.
Scotland becomes the first fintech cluster in the UK to be recognised for the cluster excellence award and one of only three fintech clusters in Europe to achieve this accreditation.
Second, the cluster award has been achieved as the two-year old FinTech Scotland confirms an increase in the number of strategic partners supporting the next stage of its strategy.
The strategic partners include: financial institutions, global technology and professional services firms, two of leading international universities developing fintech skills; the University of Edinburgh and the University of Strathclyde, as well as Scottish Enterprise and Scottish Government.
In addition, the Financial Conduct Authority continues support with the full-time secondment of a senior regulator to the FinTech Scotland team.
The broad range of FinTech Scotland strategic partners, illustrated below, will participate in a range of innovation and collaboration initiatives to drive further the development of the fintech cluster.
Commenting, Stephen Ingledew, Chief Executive of FinTech Scotland said: “We are very proud of this centre of excellence cluster recognition which will further contribute to being recognised as a global fintech centre.
Achieving cluster accreditation recognises the progressive innovation, collaboration and inclusion initiatives across Scotland over the past two years and will shape the economic and social priorities for 2020 and beyond.
To progress this, we’re delighted to partner with a broad range of forward thinking and innovative strategic enterprises in developing the fintech cluster, all who have recognised the economic, social and international value of our collaborative and inclusive model”
Minister for Public Finance and Digital Economy, Kate Forbes said: “The global financial services sector is being transformed by technology which is providing a range of benefits such as speeding up transactions, making payments more secure and helping avoid problem debt.
“Scotland is already at the forefront of these developments and the fintech cluster is ensuring the benefits are spread across the country. This accreditation will further increase our international profile and is another step towards the goal of being ranked among the world’s top five fintech cluster nations.”
Linda Hanna, Managing Director, Scottish Economic Development at Scottish Enterprise, said: “A huge amount of credit is due to FinTech Scotland for its leadership in securing this accreditation in such a short space of time.
“It sees FinTech Scotland join the country’s existing family of accredited cluster management organisations alongside ScotlandIS and Technology Scotland, underlining Scotland’s international standing as a nation of innovators.
“We look forward to working with Stephen and his team, plus their new and existing strategic partners, as they continue to nurture and encourage the growth of Scotland’s fintech ecosystem.”
Chief Executive of Scottish Financial Enterprise, Graeme Jones commented “To be identified as the first fintech cluster in the UK is further recognition of Scotland’s position as a thriving, forward-thinking, international centre and is a landmark moment for Scotland. This will present new opportunities to deliver even more economic and social benefits to Scotland and the UK”
Jane Morrison-Ross, Chief Executive of ScotlandIS said,’ We are delighted that FinTech Scotland have achieved this award. This is a huge boost to the developing cluster economy in Scotland. We are very excited by the potential of the Scottish clusters and the opportunity to further collaborate with FinTech Scotland. ‘
The number of fintech enterprises continues to grow as FinTech Scotland reaches its second birthday
FinTech Scotland has confirmed that the number of innovative fintech SMEs based in Scotland has grown by over 60% from 72 to 119 over the last twelve months.
The announcement comes on the second anniversary since the formation of FinTech Scotland, a joint initiative by a number of financial services firms, University of Edinburgh, Scottish Government and Scottish Enterprise.
The growth in the new fintech enterprises focused on reinventing financial services has been driven by new start-ups such as Visible Capital, SecureTheFile, Open Banking Research, Contract2Pay, Digital Future Capital, Guiide amongst many others over the year.
In addition, the growth in numbers has been fuelled by fintech firms moving to Scotland from other parts of the world such Gobbill (Australia), Polydigi (Hong Kong), EedenBull (Norway), QWallets (USA) who are now part of the Scottish fintech community along with other global fintech firms, bringing their expertise and energy with them. Furthermore, there have been a number of innovative fintech enterprises from the UK who have now set up operations in Scotland such as Xpand, Mudano, Infinity Works, BePayd and become part of the vibrant fintech community.
Since its inception in early 2018, FinTech Scotland has facilitated the growing fintech innovation by fostering the connection between entrepreneurs, large financial services firms, the universities, Government and public sector as well as a range of strategic partners and stakeholders.
Examples of FinTech Scotland’s strategic enabling leadership role over the last twelve months have included:
- The formation of the FinTech Scotland Consumer and Citizen Panel, a first for UK and Europe, launched to encourage the development of new solutions to tackle societal and inclusion challenges
- International trade missions of fintech firms to meet the Scottish community including from Canada, Hong Kong, France, Switzerland, Singapore and USA to name a few
- Scotland’s Fintech Festival over three weeks in September with 60+ events across the country with international fintech guests attending from over twenty nations
- Collaboration with UK fintech organisations to form the Fintech National Network to support investment, innovation and inclusion initiatives
- Founding member of the European Fintech Discovery Programme with eight leading fintech hubs across the continent to offer greater access to innovation across nations
- Ongoing close collaboration with the financial regulator, the FCA, including the extention of the of the secondment of a senior regulators to FinTech Scotland
- Developed financial inclusion and diversity initiatives working with consumer groups, social enterprises and charities such as Money Advice Scotland
- Facilitated cross sector fintech innovation, for example, with ScotlandIS, Law Society of Scotland and as well as Scottish Government Digital Team
- Partnership agreement with University of Strathclyde in developing the Glasgow fintech cluster as part of the City’s Innovation District
“It is a privilege to lead the FinTech Scotland team and galvanise the broad range of support from across Scotland to support the growth of innovative fintech enterprises in this last year.
Our progressive, collaborative and inclusive agenda is certainly establishing Scotland as a major global fintech centre which can contribute to Scotland’s economic and social ambitions.
There is still much to do but with the support of a range of stakeholders from private sector, Government and academia actively participating we can achieve the top ranking global fintech status. I am excited about a number of new initiatives planned for early 2020 which will enable us to build on the momentum throughout Scotland.“
Stephen Ingledew, Chief Executive of Fintech Scotland
“Congratulations to FinTech Scotland for an another immensely successful year. Under Stephen Ingledew’s leadership at FinTech Scotland has galvanised collaboration between Scotland’s innovative SMEs, universities, financial industry and public sector. Together, we are building Scotland’s reputation as a major global FinTech centre and commend FinTech Scotland team for their collaborative leadership over the last year and their vision for the future.”
Digital Economy Minister, Kate Forbes
“Scotland’s rich heritage in financial services coupled with its reputation as a country of innovators means it’s ideally placed to become one of the world’s leading fintech ecosystems. This is evident in both the number of new Scottish fintech companies and those international businesses that are relocating their operations to take advantage of Scotland’s experience and expertise in the sector.
“The fintech movement in Scotland has been determinedly driven forward by FinTech Scotland over the past two years. Stephen and his team deserve great credit for keeping the momentum going ”“ here’s to another successful year.”
Linda Hanna, Managing Director, Scottish Enterprise
The second anniversary was recognised on Tuesday the 8th of January at the joint quarterly Government and financial industry meeting, the Financial Services Advisory Board (FiSAB), chaired by Scottish Government ministers and the Chairman of Scottish Financial Enterprise who is Philip Grant of Lloyds Banking Group, one of the founding partners of FinTech Scotland, and attended by executives from across the financial sector.
KPMG is searching for Scotland’s top tech pioneers
Scotland’s start-up community is flourishing. Amid a climate of political and economic uncertainty, it’s sometimes a challenge to find glimmers of light and optimism, but our country’s tech-focused entrepreneurs are exactly that.
Last year, research from KPMG revealed that more than £100m of Venture Capital (VC) had been injected into start-ups. As we head towards December, we’re on-course to smash that figure. As of Q3, the figure was over £95m. For some time now, the world’s investors have been paying attention to Scotland’s tech hub cities, and there’s no sign of that enthusiasm draining anytime soon.
But, despite the outstanding achievements of the innovations and disruptors, speak to many start-up founders and they’ll tell you getting in front of the right people at the right time can be their biggest obstacle to growth.
That’s part of the motivation behind KPMG’s Best British Tech Pioneer competition. Now in its sixth year, it was set up to spot talent and facilitate those golden opportunities. This year, our search is even bigger. Throughout January, we’ll be inviting entrepreneurs to pitch to a panel of experts at informal events in Glasgow and Edinburgh. The lucky ones will then be invited to our semi-final pitches in London in February where they’ll have the chance to pitch for a place at the Mobile World Congress (MWC) in Barcelona later that month.
Previous competition finalists have included Babylon Health, What3Words Echo and SafeToNet, and more than £100 million has been raised to date.
The application process is open now and companies can apply via our website. To qualify, you’ll need to own a registered UK company that’s been operating for less than five years, with revenue generated of between £1m and £10m, or you should have raised at least £500k in equity.
Does that sound like you? If so, apply now. The deadline is December 1st. Our Best British Tech Pioneer competition is about finding talent and providing the opportunity to immediately access a global audience. Get involved and let us help you unlock your international growth potential.
First FinTech National Network Symposium to take place in Glasgow
The first ever FinTech National Network Symposium, bringing together the various fintech bodies from across the UK, will take place in Glasgow on the 10th of October 2019b hosted by FinTech Scotland.
The symposium is being held at the University of Strathclyde Technology and Innovation Centre which has played a leading global role in developing fintech skills and innovation
The hosting of the symposium in Glasgow further recognises the development of the City as a major global fintech cluster as part of the broader Innovation District development.
The symposium builds on the announcement earlier this year by Innovate Finance, FinTech Scotland and FinTech North to establish the FinTech National Network to foster collaboration between the bodies and provide valuable connections to amplify their collective support for fintech enterprises.
Over recent months the network has expanded to include FinTech Wales, FinTech Northern Ireland and FinTech West.
The Symposium will bring together senior leaders from these fintech bodies, the Financial Conduct Authority, Scottish Development International, UK Department for International Trade, the Treasury and Fintech Alliance come together. They will be joined by leading fintech entrepreneurs.
This first symposium will focus on various key themes including global innovation opportunities, encouraging greater diversity, regulatory landscape as well as the developing of collaboration across the various bodies to support fintech growth and innovation. The meeting will also focus on setting goals for the FinTech National Network so the various bodies can work together to encourage fintech growth and innovation.
The Symposium will be followed in the day by the latest meeting between the various fintech bodies building on the very successful initial meeting and networking event held in June in Manchester hosted by FinTech North. The meeting will be focusing on the rolling programme of activities to support collaborative fintech innovation in all parts of the UK.
Commenting, Stephen Ingledew, CEO of FinTech Scotland said: “It’s a great honour to be hosting the first symposium of the FinTech National Network with the fast growing fintech community in Glasgow. We’re delighted at the prospect of showcasing the great collaboration, innovation and inclusion opportunities offered by our vibrant ecosystem”
Charlotte Crosswell, CEO of Innovate Finance said: “The UK is a world leader in FinTech, but in order to develop and grow further, it is vital that we connect hubs around the country. Innovate Finance is committed to ensuring that innovation in Financial Services is represented across the UK and not just London.”
Chris Sier, HM Treasury FinTech Envoy & Chairman, FinTech North said: “I’m delighted to see the different regional ecosystems around the UK coming together via the FinTech National Network. A collaborative and open approach is the route to success and the national FinTech sector will be stronger thanks to this initiative.”
Sir Jim MacDonald, Principal and Vice Chancellor at the University of Strathclyde said: “Strathclyde University is delighted to host the first ever UK FinTech National Network Symposium at our Technology Innovation Centre, located in the heart of the Glasgow City Innovation District (GCID). Strathclyde is firmly committed to supporting the growth of the FinTech community and Glasgow is very well placed to contribute to the success of the fintech cluster given both the numbers of entrepreneurial FinTech start-ups, access to world-class research and talent, and the growing presence of large global financial services companies who are making significant investments in the city which will bring new technologies, new products, new jobs and economic growth”
Those interesting in attending the symposium can register using this link