The winners of the 2022 Scottish Financial Technology Awards have been announced, with Modulr securing the ‘Fintech of the Year’ award on the evening.

Hosted live at Edinburgh’s Sheraton Grand Hotel, the awards brought together more than 250 people from across the Scottish financial services and fintech landscape to recognise outstanding companies and individuals.

Held as the closing event of the Scotland Fintech Festival, the 2022 awards were an opportunity to reconnect and celebrate the resilience and innovation displayed by the FS and fintech ecosystem over the last two years.

Commenting on the awards, DIGIT Founder Ray Bugg said: “It was fantastic to bring Scotland’s vibrant financial services and fintech communities together under one roof. Throughout the Scotland Fintech Festival, we have seen the innovation and pioneering spirit of these industries showcased far and wide, highlighting their importance to Scotland’s economy and her people.

“We’d like to offer our congratulations to both the winners and finalists on the evening.”

So, who were the winners on the night?

Scottish Financial Technology Awards: Meet the Winners

Modulr took first prize in the ‘Fintech of the Year’ category. The London and Edinburgh-based company faced stiff competition in this category, and was nominated alongside AutoRek, BR-DGE, Zumo, and DirectID.

The judges explained that DirectID’s results over the last two years prove they have created a “valued proposition”.

“The increase in revenues and customers, and the impressive client base they have secured demonstrates that this business understands their market, can address the customer needs and is a truly scalable opportunity,” they said.

Despite missing out to Modulr in this category, DirectID was highly commended by the judge’s panel. The commendation topped an impressive evening for the company after taking first place in both the Open Finance and International Achievement categories.

Speaking to DIGIT, Jawad Ahmed, Head of Engineering, said: “We’re extremely proud to win at Scottish Fintech Awards tonight for Open Finance and in the International Achievement category. We’ve been at the forefront of open banking since before the term was even popularised. We were one of the first AISP’s to join the FCA and we’re extremely proud of everyone involved tonight. We’ve been working tirelessly to create a platform that is ubiquitous for the world and open to everyone.”

The awards ceremony also saw FinTech Scotland’s Mickael Paris win the Evangelist of the Year award, while ShareIn co-founder Jude Cook was recognised as Scotland’s Outstanding Female Leader in fintech.

Commenting on his win, Mickael said: “I feel very humbled because there’s so many people that deserved it.

“It’s quite extraordinary that people who I am trying to help on a daily basis thought that I would be worthwhile of winning the prize. So I thank everyone”

In the Special Recognition category, FinTech Scotland CEO Nicola Anderson was commended for her role as a vocal champion for Scotland’s fintech community.

Nicola was confirmed as FinTech Scotland chief executive in November 2020 and has since worked tirelessly to promote the burgeoning Scottish cluster during a period of impressive growth.

Speaking to DIGIT, Nicola said: “There are many people in this room that work really hard to achieve fintech excellence in Scotland and it’s through that really massive team collaborative effort that we’re achieving great things here. So to be recognised is just an honour.”

Here is the full list of winners from the 2022 Scottish Financial Technology Awards.

• Climate Innovation: Zumo
• RegTech Innovation: Aveni
• Financial Services Innovation: Lloyds Banking Group
• Fintech Student of the Year: Amirreza Sarencheh
• Social Impact Award: Miconex
• Fintech of the Year: Modulr
• Open Finance: DirectID
• Financial Technology Partner: Incremental Group
• Outstanding Female Leader: Jude Cook
• Fintech Collaboration: TSB
• Best New Entrant: Snugg
• Fintech Evangelist: Mickael Paris
• Payments Innovation: AutoRek
• International Achievement: DirectID
• Special Recognition Award: Nicola Anderson

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