A new national fintech strategy group has been launched by Scottish Financial Enterprise (SFE) in Edinburgh, to help Scotland capitalise on the growth within the sector.
The SFE Fintech Strategy Group has brought together over 30 leading figures from the world of fintech in Scotland and met for the first time this May in Scotland's capital.
Graeme Jones, CEO, Scottish Financial Enterprise:
This is an exciting time to bring people together. I am looking forward to working with the group to take advantage of our close links and historic strengths and make the most of the opportunities fintech brings.
Edinburgh’s financial services sector has a long history of championing innovation. Today it has the very best academic institutions producing graduates with the necessary skills to lead the way in developing these technologies.
Once thought of as the territory of start-ups and disrupters, fintech is now a growth area for the industry at all levels, from small specialist companies to global banks.
Many existing financial services organisations are expanding rapidly in fintech – including Royal Bank of Scotland, Standard Life, Aberdeen Asset Management, JP Morgan and many more.
There are also specialists such as Avaloq, the Swiss banking software firm, who is expanding its research and development facility in Scotland’s Capital.
It has become hugely important to companies because ultimately it means greater efficiency for the customer.
As the representative body for financial services in Scotland, Scottish Financial Enterprise is well placed to bring together those working in fintech from a range of financial services companies, across all sectors and also bring in contacts in government and higher education.
Ahead of the game
Graeme Jones, CEO at SFE says, “The new strategy group will map out a five-year plan for fintech in Scotland to ensure we keep ahead of the game in this fast paced environment.
“There are lots of things to consider. We must be alert to potential challenges but also quick to respond to the opportunities such new, innovative developments bring.
“This is an exciting time to bring people together in fintech. I am looking forward to working with the group to take advantage of our close links and historic strengths and make the most of the opportunities fintech brings.”