London/Edinburgh, 8.00am, Tuesday 25 February 2020 – FinTech Alliance partners with FinTech Scotland to boost global engagement and investment funding opportunities for innovative FinTech firms.
- Through the partnership, FinTech Scotland’s community and cluster activities will be promoted across the FinTech Alliance platform, which aims to bring access to market, talent and capital to the firms across the UK FinTech space.
- The collaboration is part of FinTech Alliance’s mission to bring together the strengths of the global FinTech ecosystem in one destination, fostering collaboration and supporting the growth of the firms and sector as a whole.
- The partnership will build on Scotland’s recent recognition as a FinTech cluster centre of excellence, reflecting the progress made by FinTech Scotland since its formation in early 2018.
- Since its launch in mid-2019, a number of high-profile companies have signed up to the FinTech Alliance platform including Revolut, Level39, OakNorth and Virgin Money, as well as leading Scottish FinTech firms including Direct ID and Modulr.
FinTech Alliance, an innovative digital platform uniting both the UK and the global financial technology sectors, announces a partnership with FinTech Scotland, the independent body established to develop the FinTech community and cluster in Scotland.
The partnership is part of the FinTech Alliance mission to bring together the strengths of the UK’s FinTech ecosystem on one all-encompassing platform, and to support the continued growth of the sector.
The Scottish FinTech community is innovative, collaborative and inclusive, with Scotland home to a growing number of FinTech firms spanning the full spectrum of financial technologies from payments and blockchain to open banking and RegTech.
Scotland was also home to the UK’s first MSc in FinTech, which is offered by Glasgow’s University of Strathclyde as well as the first FinTech Consumer Panel.
Recently, Scotland was recognised as a FinTech cluster centre of excellence by the European Cluster accreditation body which benchmarks the impact of innovation and collaboration across all sectors of the economy.
The partnership will involve collaborating on a number of initiatives, including global development and engagement with investors.
FinTech Alliance will also support FinTech Scotland throughout next year’s Scottish FinTech Festival in September, developing a programme of events, roundtables and discussions.
FinTech Scotland’s content and activity will appear on its FinTech Alliance microsite and will be promoted by FinTech Alliance across social media platforms and newsletters.
FinTech Alliance will aim to keep the Scottish community at the centre of the conversation each month by creating original content, sharing Scottish FinTech news and regularly profiling Scottish FinTechs on the FinTech Alliance platform.
Each and every company in the FinTech Scotland community will be able to avail of unique offers from FinTech Alliance as part of the agreement. The FinTech Alliance platform enables companies within the community to share news and insight, connect with investors and talent, and keep up to date with policy and regulation.
New features and initiatives are being added to FinTech Alliance’s platform on a regular basis, including a Diversity Hub and Mentoring Hub which seek to build a more inclusive FinTech space and offer support to those wishing to build a career in the sector.
FinTech Alliance launched on 10 June 2019 in partnership with the Department for International Trade (DIT). Over 1,000 individuals and companies already have signed up to the Alliance, including Revolut, Thought Machine, OakNorth and CYBG. As users continue to register from all over the UK and internationally, the collaboration between FinTechs gets stronger. The partnership with FinTech Scotland is the latest example of this.
Stephen Ingledew, CEO, FinTech Scotland, added: “This partnership is a further example of driving FinTech innovation through collaborative relationships. We’re impressed by the progress made the Phil and the team in a short space of time and with our shared values of inclusion and diversity combined with a global mindset we aim to accelerate initiatives to support FinTech enterprises.”
Phil Vidler, CEO, FinTech Alliance, said: “It is both exciting and important to have FinTech Scotland on board. Under Stephen’s stewardship, FinTech Scotland has achieved brilliant things as a strategic enabler to some prominent FinTechs in the UK, and has become the true backbone of Scottish FinTech. This partnership cements FinTech Alliance’s commitment to, and support for, all firms across the UK. It also underlines the real spirit of collaboration we are seeing in the FinTech sector – one that will help all involved grow and prosper.”
FinTech Alliance is open to both individuals and companies. While individuals can register for free, businesses are asked to pay a monthly subscription or annual fee for a presence on the platform. The profits made by the organisation will be used to drive further initiatives and support pre-existing organisations in the UK FinTech community.
To sign up and for further information, please go to www.FinTech-alliance.com.
About FinTech Alliance
FinTech Alliance, in partnership with the UK Government, is a multifaceted digital engagement platform that brings the global FinTech ecosystem together to explore, engage and do business. This will be the first ever, community-driven platform for the whole FinTech industry, where all the profits made will be reinvested back into the FinTech sector, providing a fully inclusive environment to support FinTech growth and empower UK business with comprehensive information, services, and intelligence.
About FinTech Scotland
FinTech Scotland is an independent not for profit body established by the financial services sector, universities and Scottish Government to ensure that Scotland seizes the FinTech opportunities and achieves positive economic and social outcomes by encouraging financial innovation, collaboration and inclusion as part of the country’s broader digital economy objectives.
The organisation acts as a strategic enabler and cluster management body focused on leveraging the potential economic (i.e. productivity, business creation, employment) and social (i.e. financial inclusion, well-being and accessibility) benefits arising from becoming a leading global centre focused on FinTech innovation.
FinTech Scotland’s objectives are to develop an innovative community of FinTech firms, generate impactful collaborations between firms of all sizes and foster an inclusive cluster which is globally recognised.
In January 2020, FinTech Scotland was formally recognised for the development for the FinTech cluster in Scotland and accredited with the bronze label for Cluster Management Excellence by the European Secretariat for Cluster Analysis.
FinTech Scotland was initially founded in January 2018 as a joint initiative by Lloyds Banking Group, HSBC, University of Edinburgh, Scottish Government and Scottish Enterprise. The organisation is now supported by a broad range of global financial services, technology and professional services firms as well as University of Edinburgh and University of Strathclyde, the Financial Conduct Authority, Scottish Government and Scottish Enterprise
Mickael Paris – Marketing Director, FinTech Scotland
Olivia Minnock – Editor, FinTech Alliance