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International Fintech SMEs in Scotland Have Increased by 40% in a Year
Fintech has accelerated as a global innovation movement during the pandemic and Scotland is making a positive contribution to this force of change in the digital economy.
FinTech Scotland has confirmed that the number of international fintech SMEs in the SME community has grown by over 40% over the past twelve months, complementing the growth of local startup and growth enterprises.
In recent months companies such as YayPay and Pace APÂ from the US, Â WeFund from Australia and Pulse Market from Ireland have become part of the growing FinTech Scotland community.
The diverse origination of the international SMEs in Scotland’s fintech community is highlighted by the visual below.
This growing global influence in the Scottish fintech community was a key theme of this year’s FinTech Festival, which started with DIGIT‘s Fintech Summit 2021, which brought together speakers and delegates from across the Scottish fintech ecosystem and beyond, to discuss the past year and plan for the future.
In the opening address, Scottish Cabinet Secretary for Finance and the Economy Kate Forbes noted that one of the main challenges facing Scotland’s fintech industry is how it can maintain its advantages in financial services in a growingly competitive and global world.
Fintech, like the rest of the world, has endured seismic upheavals over the past 18 months. With fintech providing solutions to keep the world working, their evolution has been accelerated by the pandemic.
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Speaking about this year’s FinTech Scotland Festival, CEO of FinTech Scotland Nicola Anderson said: “This year’s festival has reinforced the dynamism, breadth, and capability of fintech innovation in Scotland.
“We were privileged to be joined by so many fintech and industry leaders sharing experiences, knowledge and opportunities. We’re looking to more collaboration and to supporting the digital and green economy through continued fintech innovation.”
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