FinTech discussion groups set up to support Scotland roadmap

A NEW series of FinTech events focused on collaboration and stakeholder engagement will play an important role in supporting the development and delivery of the recently released FinTech Scotland Research and Innovation Roadmap.

FinTech is driving change in the financial services sector, one of the most important sectors of our economy. It presents a significant disruptive force and will shape the future of the digital economy.

The financial services sector contributes £132 billion to the UK economy each year and research and innovation will play a fundamental role in shaping the future of finance. FinTech is already a rising force in Scotland, with over 200 fintech companies, driving increasing levels of investment and creating exciting and meaningful high value jobs.

Taking this growing potential into account, the R&I roadmap sets the foundations for doing more. The main objectives of the roadmap are the creation of over 20,000 new FinTech-related jobs and an increase in economic value (GVA) from £598m to over £2bn – over the 10 coming years.

To support the roadmap, the 2022-23 FinTech Research and Innovation event series has been launched, created by FinTech-Tables, backed by FinTech Scotland and global law firm Pinsent Masons.

The events will provide a platform for discussion that will continue to support an industry-led approach to research, innovation and impact across the four key pillars of the roadmap; financial regulation, payments and transactions, climate finance and open financial data. The series will see key contributors come together to discuss the actions outlined against each theme in a series of industry roundtables and panel discussions.

The series of events is already attracting a lot of support, with speakers confirmed from a number of organizations for the opening event in September this year, including Pinsent Masons, Autorek and the University of Strathclyde, where a panel of experts will convene to examine the role of technology and data in financial regulation.

Commenting, Fintech Scotland chief executive Nicola Anderson said:

“This series of Roadmap events continues to show demand and ambition across Scotland to play a leading role in shaping the future of fintech innovation and enabling the future of finance that will meet the needs of citizens and businesses as we continue to see the digital economy grow and emerge.

“Fintech innovation in Scotland is already showing a future that can deliver better outcomes for all of us. By building more collaboration and embracing our strengths, across innovation, finance and technology, we will continue to play a role leader in the advancement of finance throughout the world.

Yvonne Dunn, Partner, Head of Financial Services Technology Practice at Pinsent Masons, said:

“As Fintech continues to grow and progress, it is disrupting global financial markets, but there is still a long way to go for it to cause real change. Simply put, technological innovation combined with the adaptation of attitudes and behaviors in society will be a catalyst to lead to meaningful change.

“As we look across the international landscape, Scotland will play a vital role in advancing Fintech given its financial heritage, the strength of its universities and an ingrained culture of entrepreneurship.”

“The FinTech Scotland cluster is a demonstration of what can happen through collective action. This series of roadmap events gives us a forum to move in the right direction and truly propel fintech into a new era of innovation.

Ian Davey, founder of Fintech-Tables, commented:

“FinTech in Scotland is a movement and what makes this sector unique is the willingness and desire of the whole ecosystem to come together and work for the greater good of the cluster and the people of Scotland. in general.”

“This first-of-its-kind series of events will provide a platform for engagement around the FinTech Scotland Research and Innovation Roadmap and an opportunity for the industry to act as a group to help shape the future of Fintech in Scotland through collaboration, innovation and inclusion”

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