Google Cloud is joining Scotland’s fintech cluster as part of a growing number of global organisations supporting Scottish innovation.
The company is teaming up with cluster management organisation, FinTech Scotland, to support the growth of the fintech SME community in Scotland.
With the majority of fintech firms using cloud solutions to integrate more easily and cost-effectively with their clients, Google Cloud’s addition to FinTech Scotland’s cluster will further enable innovation at speed as well as benefiting from Google’s knowledge and expertise.
This will be especially valuable to the growing number of fintech enterprises focused on data-driven innovation to improve financial services and products.
Having a platform such as Google Cloud will also boost FinTech Scotland’s objectives to develop an “innovative community of FinTech firms, generate impactful collaborations between firms of all sizes” and to “foster an inclusive cluster which is globally recognised and connected.”
Google Cloud will join a broad range of large financial services enterprises and global technology and professional services providers in supporting the growth and development of the fintech SME community.
Commenting on the platform’s integration into the cluster, FinTech Scotland’s executive chair, Stephen Ingledew, said: “We very much welcome Google Cloud expert engagement with the fintech community and cluster as it acts as a further boost to driving impactful innovation.
“Google Cloud data capabilities and know-how will certainly be of great value to the innovative SME community in Scotland.”
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Since its launch in January 2018, FinTech Scotland has been growing the number of global organisations involved in the cluster to bring innovation and collaboration opportunities to the fintech SME community.
It is hoped that Google Cloud’s strengths in data capabilities plus the innovative and entrepreneurial nature of Scotland’s fintech community will help further develop Scotland’s position as a major global fintech cluster.
Scotland’s fintech cluster is continuing to grow, evidenced by the increasing number of fintech SME firms, innovation, and research initiatives with universities, plus the collaborative support from government and global organisations.
FinTech Scotland will add Google Cloud alongside another major partnership agreed in October. The firm announced it was joining forces with Lloyds Banking Group to create a new fintech innovation incubator, the Launch Innovation Lab.
The project will see Lloyds working with 12 companies over 12 weeks to provide support and clinics along with opportunities for startups to pitch to a range of sponsors. The incubator aims to create ready to go proof of concepts in partnership with Lloyds Banking Group.