UK Government ministers were given an exclusive glimpse into the thriving Scottish fintech community this week as part of an event hosted by FinTech Scotland.
Secretary of State for Trade, Liz Truss, was joined by Scotland Secretary Alister Jack on Tuesday as the duo recognised the global impact of the nation’s flourishing fintech ecosystem.
Hosted at the Bayes Centre on Tuesday, the event provided an opportunity for ministers to meet with entrepreneurs from a host of leading firms from across the fintech community, such as FreeAgent, Float, Modulr, DirectID, EedenBull and Trace AI.
Secretary of State for Scotland, Alister Jack said: “Scotland’s financial sector has a rich history, and with 180 fintech businesses now based here, it’s good to see this legacy growing and developing as the UK becomes a major force in the global industry.
“It was great to meet with some of the key people behind the sector’s success, and I look forward to seeing how their ambition and innovation will enhance the profile of Scotland and the whole UK within the global fintech community.”
Liz Truss, International Trade Secretary, added: “Scotland’s FinTech sector is thriving, and I want to ensure that we fuel the future global growth opportunities for FinTech businesses across the UK.”
In particular, the event showcased the benefits the fintech sector is helping to deliver for businesses, individuals and wider society.
Stephen Ingledew, Executive Chair of FinTech Scotland said the visit underlined the collaborative and innovative nature of the Scottish fintech ecosystem.
He commented: “This visit demonstrated how collaborative leadership by entrepreneurs, large enterprises, academia and government can make a significant impact in delivering impactful fintech innovation which will shape the future economy and people’s lives both in the UK and internationally.
“Our forthcoming fintech research and innovation roadmap will highlight how we will build on momentum created and foster further collaboration with the regional fintech hubs across the UK.”
The ministerial visit also coincided with the unveiling of plans for Scotland’s FinTech Festival in September which aims to showcase financial innovation from across the UK, highlighting progress made since the HM Treasury commission Fintech Sector Review by Ron Kalifa OBE was released in March this year.
The Fintech Festival, now in its fourth year, will be a diverse range of 50 plus events and activities taking place over four weeks with fintech leaders and entrepreneurs attending from the UK and virtually from around the world.
The Festival will include major conferences in Edinburgh and Glasgow, including DIGIT’s annual Fintech Summit.
Fintech Summit 2021
Now in its eighth year, the Fintech Summit is the largest annual gathering of financial technology leaders in Scotland.
Following one of the most turbulent periods in modern history, the 2021 Summit will consider the role of financial innovation in socio-economic recovery, featuring talks from a range of industry leaders.
For more details and information on how to register for the 2021 Fintech Summit, please visit: www.fintech-summit.co.uk