Fintech Scotland has confirmed a 27% increase in the number of fintech enterprises in Scotland as the cluster management organization approaches its fourth anniversary.
The fintech SME community now swells to 190, up from 147 this time last year and just 26 when Fintech Scotland was launched four years ago in January 2018.
Acceleration in the move to a digital economy and demand for innovative solutions in the financial services industry and wider economy is driving the creation and adoption of new products and services.
The growth in Scotland comes with Innovate Finance announcing last week that investment in fintech firms across the UK jumped more than 200% in 2021 from the previous year,
Fintech Scotland’s activities have been promoted through collaboration with over thirty strategic partners in financial services, global technology and professional services, academia and the public sector.
This has enabled the fintech cluster to deepen its influence with notable successes in a growing number of business partnerships between large financial institutions and fintech SMEs in Scotland.
Reflecting on 2021, FinTech Scotland Executive Chairman, Stephen Ingledue said, “I would like to pay tribute to our FinTech Scotland partners for their drive, tireless efforts, creativity and leadership. I am extremely proud of our progress and recognition in the UK. And we look forward to continuing our collaboration with fintech SMEs, strategic partners and many friends in the wider UK fintech movement as we drive the impact of innovation.
Looking to the year ahead, Fintech Scotland Chief Executive Nicola Anderson said: “Our Fintech Scotland journey will take another leap forward this year when we unveil our ten-year Fintech Research and Innovation Report, an industry-led The roadmap will be a roadmap for shaping the future of financial services and fintech in the digital economy.”
“This will be central to our 2022 plans and build on increasing investment in fintech in Scotland. I am excited to ensure that our cluster leadership role continues to make significant positive contributions to impactful innovation, the climate agenda, diversity and inclusion, Also demonstrate how fintech can solve real social issues.
Additional Information:
- You can read more about the Fintech Scotland cluster in our recently published “Building a Global Fintech Cluster”.
- Below, a representation of the Scottish fintech community on 8 January 2022 (Fintech Scotland’s fourth anniversary).
About Fintech Scotland
FinTech Scotland is an independent non-profit cluster body set up jointly by the financial services sector, universities and the Scottish Government/Scottish Enterprise to ensure that Scotland seizes Fintech opportunities and fosters financial innovation, collaboration and inclusion. Achieves positive economic and social results by encouraging This is part of the objectives of the country’s wider digital economy.
As a strategic promoter and cluster management body focused on leveraging the potential economic (i.e. productivity, innovation, business creation, employment) and social (i.e. financial inclusion, well-being and access) benefits arising from becoming a major global hub works. Fintech focuses on innovation.
FinTech Scotland aims to develop an innovative community of fintech firms, generate impactful collaborations between firms of all sizes and foster an inclusive cluster that is globally recognized and connected.
In January 2020, FinTech Scotland was formally recognized for the development of fintech clusters in Scotland and recognized with a Bronze Label for Cluster Management Excellence by the European Secretariat for Cluster Analysis.
FinTech Scotland was founded in January 2018 as a joint initiative by Lloyds Banking Group, HSBC, the University of Edinburgh, the Scottish Government and Scottish Enterprise. The organization is now supported by a wide range of global financial services, technology and professional services firms as well as the University of Edinburgh and the University of Strathclyde, the Financial Conduct Authority, the Scottish Government and Scottish Enterprise.