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FinTech Scotland to Shore-up Cluster Cybersecurity With Check Point

David Paul

,

FinTech Scotland

The collaboration will offer training to help Scottish fintech firms protect their business and data against advanced cyber-threats.

Cybersecurity company Check Point is partnering with FinTech Scotland to increase cybersecurity awareness and engagement with Scottish fintech firms.

The partnership will see Check Point deliver cybersecurity education and training initiatives to organisations operating in FinTech Scotland’s cluster. As well as this, the company will work with fintech SMEs to help them to “enable cybersecurity from the outset” with focused solutions to help protect their businesses against cyber threats targeting networks, cloud deployments and mobile devices.

The collaboration is an attempt by FinTech Scotland to shore up cybersecurity practices a week (18th November) after the company announced the acceptance of Google Cloud into the Scottish fintech cluster, looking to help the growth of the country’s SME community.

According to Check Point, Scottish fintech startups and large financial institutions are targeted by around 1,300 cyber-attacks per week. As well as this, around 25% of all malware attacks are aimed at banks and other financial services organisations – surpassing all other industries.

FinTech Scotland is supported by a broad range of global financial services, technology, and professional services firms, as well as the University of Edinburgh and the University of Strathclyde, the Financial Conduct Authority, Scottish Government and Scottish Enterprise.

Check Point brings its expertise and global experience on cybersecurity, which will help further develop Scotland’s position as a global fintech cluster.

Commenting on the collaboration, Roddy MacCallum, Head of Scotland at Check Point Software Technologies, said: “Scotland is home to a phenomenal pool of fintech talent. However, as with many sectors, these firms face complex challenges right now, as they navigate the changes to their networks due to the rapid digital transformation and remote working practices forced upon us all.

“By partnering with FinTech Scotland, we aim to equip these firms with the tools and support they need to ensure cybersecurity is deeply embedded within their business in these challenging times and beyond.”

Nicola Anderson, the interim CEO at FinTech Scotland, added: “We’re delighted to welcome Check Point as a strategic partner. They join a group of global organisations that have decided to support the development and growth of the Scottish fintech cluster.

“Cyber threats are one of the biggest concerns for fintech entrepreneurs. Involving a global expert in cybersecurity will help address those concerns and support fintech SME’s to confidently develop safe and secure innovation.”

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To mark the launch of the partnership, Check Point and FinTech Scotland are hosting an online event on 26 November to discuss the latest cyber-security threats in the sector.

The new collaboration is the latest in a series of big moves by FinTech Scotland after several recent major changes at the firm. Chief Executive Stephen Ingledew announced he would step down from his role and assume the position of Executive Chair from this month, and continuing to work alongside interim chair Nicola Anderson.

FinTech Scotland has also announced two other major collaborations in 2020, revealing in February that it would be joining forces with the FinTech Alliance to help promote Scottish fintech cluster activities. In October the company said it was working alongside Lloyds Banking Group to build a new fintech programme to help firms innovate faster and improve collaboration.

David Paul

Staff Writer, DIGIT

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