Scotland is establishing itself as one of the leading fintech hubs with the ambition of making it to the top 5 in the Global FinTech Hub Federation annual ranking.
We’re not starting from scratch as we already rank 15th thanks to the great work achieved by many organisations, public and private, for the past few years. FinTech Scotland was created to create a fintech eco-system that will connect those organisations to create opportunities, synergies and eventually create jobs and economic growth.
We are bringing together the ideas and creativity of entrepreneurs and innovators, the resources and experience of the established financial sector, the economic and social objectives of the public sector, the innovation environment of accelerators and incubators, the capital of investors, the people development by skills agencies and the research and development from the universities to build a thriving FinTech ecosystem to benefit all.
We believe Scotland is a fantastic place to create and grow a fintech business:
- Thriving Community: Scotland counts no less than 50 fintechs across the whole country including cities such as Edinburgh, Glasgow, Aberdeen Stirling, Dundee and Fife.
- Global strategic partners: FinTech Scotland counts numerous strategic partners including Deloitte, Dentsu Aegis Network, IUBM, Equifax, Pinsent Masons and Sopra Steria. They are committed to support the ecosystem and ensure maximisation of global opportunities.
- Talents: Scotland is home to 14 universities all offering fintech programmes or fintech related courses. The University of Edinburgh host one of the top 3 centres of informatics in Europe and also the Edinburgh Parallel Computing Centre.
- Leaders: we’re positioning Scotland as the data capital of Europe and the global centre of excellence for open banking.
- Support: as a country we offer better support than anywhere else. Public agencies such as Scottish Enterprise and private companies such as FinTech Scotland are here to provide all the required assistance for start-ups and SMEs.
- Environment: Scotland counts no less than 16 tech hubs, covering all major cities providing facilities from incubation to acceleration to scale-up programmes.
- Investment: from angel investors to Venture Capitalists, private investors are showing a growing interest in fintechs. They are supported by the Scottish National Bank which offers co-investing opportunities.
- Collaborative eco-system: we’re in a unique position where the whole eco-system is behind our ambition. Public agencies, large financial firms, the Scottish Government, fintech practitioners, the regulator and skill providers are all committed to the growth of fintech in Scotland. Moreover, 6 strategic partners have joined FinTech Scotland: IBM, Deloitte, Equifax, Dentsu Aegis Network, Sopra Steria and Pinsent Masons showing that our ecosystem reaches far beyond financial services and sits horizontally across all verticals.
Author: Mickael Paris, Marketing Director at Fintech Scotland