FinTech Scotland are working with professional services supporter Deloitte, and with Tesco Bank, Morgan Stanley and abrdn.
In brief:
- The first in a series of industry-led innovation calls, the initiative is dedicated to fostering confidence in the adoption of emerging technologies into financial services.
- FinTech Scotland and the financial services firms, in conjunction with professional services leader Deloitte, are inviting entrepreneurs and innovators to identify and use technologies to address industry compliance challenges.
- In partnership with the University of Strathclyde and the University of Glasgow, the Lab aims to leverage expertise in financial services risk and compliance and combine this with emerging technologies.
What does this mean?
Nicola Anderson, CEO of FinTech Scotland, said: “We are extremely excited to kick off this inaugural industry innovation challenge. Demand-led innovation calls are an important part of the toolkit that the Financial Regulation Innovation Lab will employ to drive positive outcomes. It is also an opportunity to bring together financial institutions and innovators, enabling financial institutions to learn collaboratively about ways to improve compliance processes to drive efficiency for the sector and, ultimately, increase consumer protection.”
