Cluster management body FinTech Scotland has announced a new strategic partnership with Morgan Stanley, in a move that the organisation says will ‘further strengthening the growth of the financial technology innovation and excellence across Scotland and accelerating the fast-growing sector’s global connectivity.’

Morgan Stanley joins FinTech Scotland’s existing strategic partners including financial services firms, academia, technology solution providers and public sector organisations, in a bid to further enhance the development of Scotland’s fintech cluster through the support of strategic initiatives and the harnessing cross-regional collaboration.

The collaboration will also support the firm’s Multicultural Innovation Lab and accelerator programme, that promotes financial inclusion and provides access to capital and expertise for early-stage technology and technology-enabled start-ups led by entrepreneurs from diverse backgrounds.

Morgan Stanley has a workforce in excess of 2,000 in Glasgow and recently announced further investment in local talent, providing career opportunities to over 200 young people as part of its largest graduate recruitment programme.

The investment bank will get involved in the collaborations that continue to progress the FinTech Research and Innovation Roadmap, driving innovation in Financial Regulation, Climate, Open Finance and Payment & Transactions.

Commenting on this new partnership, Khalid Rafiq, Glasgow Head of Technology at Morgan Stanley said: “We are thrilled to deepen our ties with the Scottish fintech community and to help foster the growing start-up ecosystem.

Recommended

• Scottish Scale-ups Seeing Record Breaking Levels of Investment
• Data Privacy Day: Don’t Put all your Eggs in One Basket
• How Critical is Cybersecurity to Digital Transformation?

“Playing an active role within the Fintech Scotland cluster not only ensures we are fully supporting our local community, it gives us the chance to share our expertise and deepens our commitment to foster technology talent and diversity so as to drive innovation and business value in the buoyant Scottish marketplace.”

Nicola Anderson, Chief Executive at FinTech Scotland said: “We’re looking forward to working with Morgan Stanley, building even more global connectivity as we continue to build, grow, and advance the FinTech Scotland Cluster.

Plans for the year ahead will see more fintech innovation in capital markets and further support to enable greater diversity infintech innovation. Morgan Stanley’s strategic engagement will enable further fintech innovation and opportunities in Glasgow which continues to see fintech growth, building Scotland’s national reputation for fintech innovation.”

Get all the latest news from DIGIT direct to your inbox

Our newsletter covers the latest technology and IT news from Scotland and beyond, as well as in-depth features and exclusive interviews with leading figures and rising stars.

To subscribe, click here.