Inclusion, fintech and future talent

Inclusion drives fintech innovation

This has been an action-packed time for everyone involved in the FinTech Scotland Cluster. With COVID-19 continuing to have an impact on our lives both at work and at home the energy across the cluster continues to inspire us.

In particular there has been an even stronger focus on inclusion. Since I’ve known it, this topic has always been front of mind for all involved in the FinTech Scotland Cluster. The work over the recent weeks has continued to demonstrate the drive to build an inclusive environment that enables diversity to win, innovative environments to advance future opportunities for all and build business success.

Inclusion driving future talent

We’re continuing to learn about the full range of organisations across Scotland that are working in practical ways to build skills, experience and communities to help people from different backgrounds explore opportunities in FinTech and Tech. It’s always a pleasure to learn about the practical approaches being taken to support and enable inclusion.

Code your Future is strengthening its focus in Scotland. It works with people who have had limited access to education, offering practical tech training to anyone that’s experience problems in getting meaningful work. There are ten graduates on course to graduate in November, who will be looking for opportunities. Previous graduates are working at BBC Scotland and STV, and code your future has plans to support another class of 30 students next year.

We’ve also been working directly with the team Inlcusion Scotland over the past few weeks as we look to expand the FinTech Scotland team through an internship. Inclusion Scotland work to ensure the full inclusion of disabled people into all aspects of Scottish society can be achieved.  All of us a FinTech Scotland very much looking forward to adding to the team.

Inclusion drives business development

It’s been great to see the hard work from the team Lloyds Banking Group pay off so successfully as they launched the Launch innovation lab. The innovation themes of digital services and ESG are another example of the conscious focus being given to the topic of inclusion. Congratulations to Inbest and Legado who are both participating in the programme.

Obashi also shared an exciting development this week as it joins the World Economic Forum’s innovators community.  An inclusive first for this forum, for Obashi and for Scotland. Obashi’s work is another great example of inclusion driving business development, moving from the oil industry to share its experiences of dataflow frameworks to bring clarity to new sector.

Inclusion drives financial inclusion

Over the last few weeks we have continued to see the efforts of many across the FinTech Scotland Cluster continue their unwavering focus on financial inclusion.

Amiqus continues its work with proxy address and launched a new trial to test the proposition. It works to provide those in danger of losing their home and subsequently their address with a proxy address and the innovation has the potential to ensure people continue to get access to vital services including access to the benefits they need.

FinTech focus on financial inclusion has also been supporting the UK’s Money and Pension Service (MAPS) who has recently launched a UK Financial Wellbeing Strategy.  Thank you to,  Nude Visible Capital Soar Directid FastPAYE and Money Dashboard for sharing your views. We know there will be more on this over 2021 and that COVID-19 has brought the topic of financial inclusion into sharper view.

Pinsent Masons recent research on Creating a Culture of Support in Financial Services has focused on the topic of Money and Mental health. It draws on a range of perspectives from a wide and diverse group of industry participants and explores a range of initiatives being built to offer inclusive support for those that want it.

And on a final related note, this week has been Talk Money week, another initiative to encourage people to engage in money and to get us all talking about it. Experience shows that money continues to be a taboo subject and research has highlighted that often people find the subject to daunting and complex. FinTech’s such as Sonik pocket and Moneymatix are working to help children engage with money and financial decisions at an early age. A bit like those ‘why’ questions our children are so good at asking, innovations like this might go some way to helping us all talk about money.

Hoping you all stay safe and well.

Nicola