Scotcoin presents Social Bite with a cheque for £1k.
On 24th May at the Rose Street HQ of Social Bite, Temple Melville, Director of The Scotcoin Project CIC will present a cheque for £1000 to Andrew Baillie, Social Bite’s Partnership Manager, who said,
“Social Bite is delighted to receive £1000 from the team at Scotcoin. We will use this generous donation to provide dignified meals, supportive employment and sustainable housing for people who have been affected by homelessness across Scotland.”
Scotcoin wants to join the citywide alliances aiming to eradicate homelessness in Edinburgh and Scotland and Social Bite’s model fits perfectly with the values and ethos that Scotcoin Project prioritises. Temple Melville said,
“ I’m delighted our initiative to raise funds for Social Bite has worked so well. We intend to increase our efforts within the charity ecosystem, and are working with Andrew Baillie to enhance our efforts.”
About Social Bite Social Bite is a Scottish social enterprise set up by Josh Littlejohn MBE and Alice Thompson. The organisation is run on a not-for-profit basis and a quarter of the company’s staff are from homeless and severely excluded backgrounds
Website:https://social-bite.co.uk/
Email: andrew.bailie@social-bite.co.uk
About Scotcoin
Established in 2013, Scotcoin is one of the first and most successful country related crypto-currencies on the market to date. Achieving widespread adoption in 2014 it continues to grow with over 3,000 holders globally, it currently utilizes the power of the Bitcoin blockchain.
Scotcoin originated in Scotland, of which it is extremely proud but this currency it global and not just limited to Scotland. It is envisaged that Scotcoin will be used by many people across the world for transferring wealth, goods and services within its new fully decentralized self-sustaining economy.
Website:ScotcoinProject.com Email: temple@scotcoinproject.com mylesgeddese@gmail.com
Scotland’s Fintech community now exceeds 100 innovative enterprises
The fintech community in Scotland has now increased to over one hundred innovative firms focused on reinventing financial services through new technology and data.
This increase continues the momentum from the start of the year when it was announced that the number of firms had trebled to 75 over the twelve months since the formation of FinTech Scotland at the beginning of 2018.
The growth in the number of fintech firms in the community continues to be fuelled by a combination of new enterprises being created, international firms moving to Scotland and existing technology firms developing new fintech propositions.
The 100 Scottish fintech firms
The announcement comes on a day when the Public Finance and Digital Economy Minister Kate Forbes welcomed some of the newest firms to the FinTech community to the Scottish Parliament at Holyrood.
This was an opportunity for the Minister to hear from a range of diverse and exciting new enterprises and their entrepreneurs includingMoneyMatix, Xpand Access, CU Apps, Zortrex, Women’s Coin .
Additionally, Amiqus the recent winner at EIE19, Scotland’s main showcase event for firms looking for investment, joined the group to share how they are building on their initial growth. EIE this year saw fintech firms being the largest sector represented further demonstrating the growth in the sector.
Image: Public Finance and Digital Economy Minister Kate Forbes with some of the firms from the Scottish fintech community and the teams at FinTech Scotland and Scottish Enterprise.
FinTech Scotland has also announced that Scotland’s International Fintech Festival will take place over three weeks between the 9thand the 27thof September, following on the success of last year’s community led Festival.
The Festival will take place across the breadth of the country, including seven Scottish cities and will see over 50 events with many being joined by international guests from around the world, further reflecting Scotland’s growing reputation as a global fintech nation.
Following the announcement Minister Kate Forbes said:
“Scotland has the fundamental strengths to be globally recognised as a centre of FinTech excellence. Our economy is open and competitive, we have a highly skilled workforce, a great quality of life and an attractive cost base compared to other financial centres.
“Working with FinTech Scotland and its partners, we have seen real growth in the sector in Scotland, and I am pleased to celebrate the milestone of our first 100 FinTech companies. This is just the beginning, and I am confident that we will see continued growth.”
David Ferguson, CEO of AIM listed fintech Nucleus Financials added:
“These are becoming very exciting times for Fintech in Scotland and it’s hugely inspiring to see so many companies contributing to the tech-led reinvention of financial services. It’s also brilliant to see Stephen and his Fintech Scotland team doing such a great job in supporting and helping to drive this growth.”
Commenting on the latest progress, Stephen Ingledew, chief executive of FinTech Scotland said:
“We continue to be focused on supporting the dynamic and expanding fintech community across Scotland and it is encouraging to see the number of enterprises grow with the support of key partners, universities and Scottish Government.
“Scotland’s fintech community is continuing to attract growing interest from international investors as well as the established financial services sector who recognise the significant value in collaborating with creative forward-thinking enterprises.”
Linda Hanna, Managing Director for Scottish Economic Development at Scottish Enterprise, said:
“The vibrant fintech sector in Scotland keeps going from strength to strength – and its growth isn’t showing any signs of slowing down. As Scotland’s national economic development agency, we are keen to continue to build on this success, creating the ideal environment for these new and scaling businesses to thrive, and cementing Scotland’s place as a global fintech hub.”
£8,000 Scholarship for Postgraduate Fintech Student
Are you looking to join an exciting and dynamic industry? Fintech could be for you!
Scotland’s financial technology sector is booming, with the number of businesses growing threefold over the last year. There are now around 90 fintech-focused enterprises based in Scotland and there are no signs of the boom slowing down.
The good news is that these businesses are constantly on the look-out for new talent. Several Scottish universities, including the University of Strathclyde, the University of Stirling and Edinburgh University are already offering postgraduate fintech degree to satisfy growing demand.
£8,000 scholarship
In order to support students in that sector, Spotcap, a fintech lender, has launched the Fintech Fellowship programme. Now in its third year, the Fellowship offers an £8,000 award to one postgraduate student studying a fintech related course at a UK university. Applications open today and close on August 15, 2019.
Eligibility
To qualify for the Fintech Fellowship, applicants must cover the following criteria:
- Have an offer of admission to a master’s or MBA programme at an accredited British university
- Be a British citizen or resident
- Study a fintech-related subject, with the intention to work in fintech upon graduation
Required Documents
Applicants can upload their CV and cover letter via the Fintech Fellowship website. Their cover letter should include the following points:
- Brief description of their background and achievements
- What sparked their interest in fintech
- How their studies would support a career in fintech
So, what’s it like working for a Fintech company?
A job in Fintech is an opportunity to work in an evolving industry ”“ one that is driving the digital shift of both the economy and our society. It attracts passionate people who are keen to pursue opportunities and overcome challenges, making it a dynamic and fast-paced working environment. But fintech doesn’t only attract talent with an interest in technology and IT ”“ because of its innovative nature, it is increasingly becoming a sector of choice for marketers, sales and business operations professionals.
Are you starting your postgraduate studies this autumn? Are you keen to pursue a career in fintech? Check out the Fintech Fellowship website and apply for the £8,000 award.
Event – Creating World Class Fintech Innovations
On 11 June, EIT Digital and Fintech Scotland invite interested parties to a networking event, titled Creating World Class Fintech Innovations’. The University of Edinburgh’s Business School is the venue for this half-day event focussed on the future of fintech in Scotland, and the opportunities for universities, corporates and start-ups within this thriving ecosystem.
EIT Digital is the leading European digital innovation and entrepreneurial education organisation driving Europe’s digital transformation. It recently opened its Scottish Satellite in Edinburgh to deepen connections with the Scottish innovation ecosystem and to intensify its relationship with the Scottish Private and Public Sectors.
The Edinburgh Satellite intends to host a new Doctoral Training Centre, with a focus on fintech, and Cyber Security via a new program supported by the Scottish Government’s Cyber Resilience Unit and ScotlandIS, plus other areas of national strategic importance. Its students will be supported by universities across Scotland with the first students expected to start later in 2019.
EIT Digital is one of eight Innovation Communities of the European Institute of Innovation and Technology. It has 10 Co-Location Centres across Europe, including one in London, and the Scottish satellite was the first one to be opened in the UK.
To register for this event click here
Wayra AI & Blockchain Accelerator – New Applications now open!
The call for the next AI & Blockchain Programme is now open and start-ups can apply using this link. (Closing date 29th May 2019)
The Accelerator is run in partnership with The University of Edinburgh and Wayra, combining the technical & research expertise of UoE and Wayra’s commercial connectedness to London’s entrepreneurial ecosystem.
This Programme provides coaching, mentors, access to investment and industry networks. It is supported by Scottish Enterprise, offering Scotland wide businesses support, and sponsored by CISCO
The Programme runs for 6 months, meets three days a week and is based in the Bayes Centre, Edinburgh . A founder of each company is required to attend each week and will be provided with desk space for 7 days per week. The Programme has national reach but an Edinburgh focus and includes a £7500 stipend to cover travel costs.
Fortnightly FinTech Fuse ”“ Exhilarating FinTech Energy!
The fintech energy across Scotland is just so exhilarating in so many ways!
It is an energy that is driving the rapid growth of the fintech community and this has been wonderful to experience again at first hand over this last few weeks.
Innovative Energy
For example, innovative energy has been very much in evident at a variety of meetings such as with Stephen Henry of the exciting Asura Financial as well as with Laura Bosworth and Mel Alexander from the awesome Amiqus team.
Then there were the engaging discussions with Chris Herd of Nexves and Kevin Hollister and Keith Harrison of Guiide at the Scottish FinTech meet up. Big thanks again to Scottish Fintech stalwarts Sergei Miller Pomphrey and Bobby King for being at forefront of community energy.
Last week it was a fascinating catch up with Garry Williams of Phoebus to talk about his innovative future plans and potential for expansion in Edinburgh.
Earlier in the week it was another wonderful meet up, this time with the very special Fife Fintech community to catch up with old and new friends.
Thank you to Iain Shirlaw for the celebratory cake and organizing a valuable discussion in the Adam Smith Theatre in Kirkcaldy.
I get a lot of my energy in seeing the fintech community come together, such as at the University of Edinburgh Futures Institute meeting on Wednesday evening.
Wonderful to see energetic entrepreneurs Helene Rodger of MoneyMatix, Christian Burgin of Visible Capital, George Kelsey and, very new to the community, Nanik Ramchandani of Trade Phi.
It was a great mixer’ event organized by Gbenga GB’ Ibikunle from the University of Edinburgh to share the developments of the fintech cluster being led by the University of Edinburgh
On top of all this engagement there have been some magnificent news from a range of innovative enterprises.
Modulr raising £14m capital to grow, LendingCrowd raising nearly £20m to support SME growth, Money Dashboard hugely successful crowd funding of £2m in 24 hours and then Soar receiving a major financial injection to take their innovation to the next level. Wow!!
These examples of the vibrant fintech community in Scotland is something I find myself sharing with global innovators and entrepreneurs on almost a daily basis on phone calls and in meetings.
For example, it was great to catch up recently with Ambreen and Sophie from Monese to hear about their exciting journey and the potential of being in Scotland.
Then it is spectacular to see all this come alive on line and in print through the Scotsman Fintech supplement this week.
Huge thanks to the brilliant David Lee for leading on such a comprehensive supplement and to the Scotsman team for bringing Scotland’s fintech progress alive.
Collaborative Energy
The innovation across the fintech community really comes alive when combined with the collaborative energy from a range of participants.
This is a theme I shared at the awesome Fintech North conference in Leeds on Thursday.
Building on the success of the Manchester conference, this was another wonderful occasion and it was a privilege to be part of the event with a really buzzing atmosphere.
It was an opportunity to meet a diverse range of people from the Leeds community including David Hoghton-Carter, Glynn Robinson, chairman of BJSS, Daniel de Wolf of Flybits and Andy Thompson (again) of Sandstone. All I hope to see in Scotland soon.
As well as people from the broader fintech ecosystem, David Beer of Fintech Alliance and Peter Cunnane and Clare Black of Innovate Finance. Clare led on terrific session on Fintech and diversity in the afternoon sessions.
Over lunch it was great to catch up with the engaging founder Kyle MacDonald and non exec director Mark Spink of Scottish fintech Financial Cloud to talk through collaboration opportunities in Glasgow especially in the credit union sector.
Also, terrific to meet up with international guests Muhamed Farooque of Excelledia and Kyoungrok Lee and Min Sungjun from Samsung Life, all of whom I look forward to welcoming to Scotland next month.
Thank you once again to inspiring FinTech North leaders Julian Wells and Chris Sier as well as the fabulous Fintech North and Whitecap Consulting and White Label Crowdfunding teams. Magical
Very much looking forward to hosting the FinTech National Network meeting in Edinburgh in June and the collaboration conference in the Autumn in Glasgow.
One area of collaboration I highlighted to people was between fintech and the public sector. For example, the work to develop a new payments platform with the Scottish Government is a hugely exciting collaboration opportunity for fintechs.
It is a real pleasure to be working with inspiring leaders Trish Quinn and Hugh Wallace along with the impressive team Clare, Martin, Alex and Carron at the Scottish Government.
Very much looking forward to the buzzing energy at the collaboration event in June to share more with the fintech community and wider stakeholders.
On the subject of large scale collaborative energy, fantastic to see the news about Lloyds Bank major tech job expansion in Edinburgh.
Last week I was delighted to be invited to the Lloyds Bank pre AGM dinner to talk with Chair Norman Blackwell and give examples of Lloyds Bank energetic support of the fintech community in Scotland.
The collaboration energy was very much part of the discussion with the CYBG Innovation Team a week ago as well.
Great to have such an engaged and imaginative audience looking to develop even closer working relationship with the fintech community.
Many thanks to the inspiring Sam Bedford, Gary McLellan and Jack Mckenna, looking forward to progressing the opportunities.
Also very much encouraged by the meetings with the Barclays team, Ben Davey and old colleague Steven Roberts, especially with the exciting build of the new Barclays campus in Glasgow.
Thanks also to Colin Carmichael and the Sopra Team for a terrific working session with Mark Daisley and the BNP Paribas team
I am very encouraged by the large financial services institutions who are looking to work with us to bring the fintech community in to a closer working relationship to support innovation.
Many thanks to Ali Law of Royal London and David Skinn of Aviva for valuable conversations over the last week or so.
A completely different area where the collaboration energy is beginning to be so powerful is our fabulous engagement with the Money Advice Scotland team
It was very much a huge privilege for me to present at their annual conference in Dunblane on Friday as a double act with my colleague Nicola Anderson.
Infact, it was really quite emotional, as the work of the front line money advisers is something I have recognised as hugely valuable since my childhood.
Just magical to be there with real experts who are focused in supporting people when faced with the most difficult of financial circumstances.
Very much appreciate Yvonne McDermid and David Hilferty giving me us the opportunity to share the role of fintech in supporting their work.
Expert Energy
This expert energy is crucial to the thriving fintech ecosystem and the universities play a crucial role.
This also was a key theme at the Fintech North conference, and it was great to be on the stage to discuss this with Chelsea Hardy, Andrew Maeer, Iain Clacher, George Lodorfos and expertly chaired by Eve Roodhouse of Leeds Council. Very much a shared agenda of inclusive growth.
I am thoroughly enjoying working with the brilliant expert team at University of Strathclyde, Daniel Broby, Devraj Basu, Martin Hughes and James Bowden in developing the plans for the fintech cluster in Glasgow.
Their expertise in bringing together the academic intellect with entrepreneurial new enterprises in the magnificent Technology and Innovation Centre in Glasgow is certainly fueling fintech energy and enterprise.
Bringing together the consortium of stakeholder expertise across the central belt in Scotland is a huge strength in developing the Global Open Finance Centre of Excellence.
My meetings this last few weeks with a cross section of key players such as Simon Pink and Mairi Cairney of IBM, Anneli Ritari-Stewart and Richard Gill of Dentsu Aegis as well the brilliant team at Edinburgh Chamber of Commerce, Liz Mcareavey and Alex Haramis very much reinforce this.
Broadening the potential range of experts contributing and supporting fintech is key and it was valuable to discuss this with Graham Burns, John and Nia from FWB Park Brown team. Very much looking forward to working with the Aberdeen community on this
Earlier this week I delighted to have the opportunity to share progress on the Global Centre of Excellence with Government Minister Ivan McKee.
Damien McGarrigle and Kevin Collins are doing an excellent job on leading the initiative along with the awesome Gavin Littlejohn driving the amazing global engagement.
The open banking and finance opportunity was highlighted recently by Caroline Stevenson of Womble Bond Dickinson in a great article in the Scotsman.
I had the opportunity to learn about Caroline expert work as part of a six mile running meeting’ around Arthurs Seat one very early morning this week.
What could be better than combining my two passions of running and fintech!
Running Energy
I am going to need all the running energy I can muster this weekend with the Edinburgh marathon on Sunday!
Being only six weeks back from an eight week injury lay off, I know I will need to take it steady over the 26.2 miles, so the pressure is off in many ways when it comes to how fast I go.
This will be the first of three marathon this year and I’ve been helped back to running fitness with a couple really enjoyable races in Coatbridge and Balerno over the last couple of weeks.
The latter made all the more enjoyable on a lovely Monday evening by running most of route with Carron Macnab of Scottish Government when we ended up talking as much about fintech as running!!
Maybe talking fintech is the secret for the marathon this weekend but who will I find to chat with!! Until next time.
Call for innovative fintechs as NewDay releases public APIs
Photo by Two Paddles Axe and Leatherwork on Unsplash
Open Banking APIs
NewDay has developed a dedicated interface to Open Banking’s API standards and has launched its test facility for AISP, PISP (which will allow TPPs to initiate Balance and Money Transfers) and CBPII APIs. NewDay is interested in engaging with TPPs who want to test their applications against its APIs.
NewDay intends to launch its Production instance of the APIs from 1st June 2019.
NewDay Overview
NewDay’s aim is to provide credit card products that work for its 5 million customers. NewDay has four own brand products: aqua; marbles; opus; and fluid. Aqua is NewDay’s main brand for customers who are new to credit, offering 4 different credit card products and also personal loans to existing customers. NewDay also provides credit card products in partnership with a number of well-established UK retailers including: Amazon; TUI; Debenhams; House of Fraser; Laura Ashley; and the Arcadia Group (which includes brands such as Topshop and Miss Selfridge). Over four million customers in the UK use one of NewDay’s co-brand credit cards as a valued part of their shopping experience.
How to get involved
For more information on how to engage with NewDay’s APIs please go to our Developer Portal, https://developer.newdaycards.com, or send a query to openbankingsupport@newday.co.uk
LendingCrowd to fund SME growth through Scottish Investment Bank and NIBC partnership
Scottish P2P lending platform LendingCrowd, has just entered a partnership with Scottish Investment Bank (SIB) ”“ the investment arm of Scottish Enterprise ”“ and Dutch entrepreneurial bank NIBC to create a unique opportunity for SMEs to fund their growth.
Both banks will be lending a combined £18.75 million across LendingCrowd’s platform.
LendingCrowd is seeing an increase in the demand for small business finance from all around the UK. LendingCrowd will be assessing applications and distributing the finance via its innovative proprietary online platform. The platform can provide businesses with a decision on the day and make money available in 10days.
LendingCrowd provides funding to almost all sectors, and a few of the companies to have benefitted from the platform’s loans include Summerhall Distillery, producer of Pickering’s Gin, Tag Games and Umega Lettings.
Stuart Lunn, founder and CEO of LendingCrowd, commented: “We’ve had a record number of requests for funding from British businesses so far this year, showing that the appetite for alternative sources of finance to fund their ambitions only seems to be getting stronger.
“We are delighted that the Scottish Investment Bank has followed up its first foray into the alternative investment market with this further commitment, and that we have been joined by NIBC, which sees the potential of LendingCrowd and our proven ability to distribute its considerable funding to UK businesses. Going through the due diligence on a deal like this has really shown the strength of our team in building an institutional class lending business.
“There are many small businesses crying out for finance and the funding from SIB and NIBC, coupled with our strong retail investor base, will allow LendingCrowd to help even more companies fulfil their ambitions.”
Scotsman fintech event: what has fintech ever done for us?
Fintech has made a huge impact on the financial services sector and the wider economy of Scotland ”“ but what did it ever do for us?
That’s the subject of a quick-fire panel discussion at Strathclyde Business School in Glasgow on Wednesday, 5 June, with experts from across the fintech field, including Nicola Anderson of Fintech Scotland, Professor Eleanor Shaw of the University of Strathclyde and Louise Smith, Head of Intelligent Automation at RBS.
The panel is completed by young entrepreneur Daniel Sloan of BankPal, Chris Brown of Deloitte and Callum Sinclair of Burness Paull.
If you are a member of the fintech community, or interested in the sector in any way, we would love to see you there for the rapid-fire discussion around seven key topics, each representing a letter of fintech:
FINANCIAL INCLUSION
Last year’s discussion asked if fintech could be an agent of positive social change. How are we doing in terms of financial inclusion and does fintech in Scotland still have that social purpose?
INNOVATION
How is the sector coming together in a collaborative way to deliver genuine innovation, through initiatives like the Glasgow City Innovation District? Are we seeing any tangible outputs?
NEXT GENERATION ENTREPRENEURS
How is Scotland doing at creating a generation of fintech entrepreneurs who can provide the economic powerhouses of tomorrow?
TRUST AND TRANSPARENCY
What are Scottish fintech businesses doing to build customer trust ”“ and are they being fully transparent about their use of data? Can Scotland use trust and transparency as its fintech USP?
EMPLOYMENT
Last year, Fintech Scotland’s company map had 40 businesses on it. This has now doubled to 80-plus. Scotland is also attracting fintech jobs in large financial institutions. Is fintech starting to drive significant employment growth?
CONSUMER DATA
As consumers become more aware of the importance of their data to large tech companies, how can fintech help them to realise value from that data?
HOME-BUYING JOURNEY
How can fintech have a positive impact on the way we buy and sell homes? Does it have the power to bring together the whole home-buying journey in a simpler, more seamless way? And can this approach be rolled over into other aspects of our lives, such as travel and tourism?
To book your free place to this event click here: https://www.scotsmanconferences.com/
SecureTheFile introduces new digital tools to help clients securely organise, store and share their most important life information
SecureTheFile has been designed and launched to help clients to securely organise, store and share their most important life documents and information.
It can be particularly useful during major life events and emergencies such as fire, theft and death. Through a combination of a personalised guidance engine, with interactive tools, resources and content, and an intuitively organised digital vault, SecureTheFile helps clients to organise all the most important details about their life and legacy in one secure and accessible place.
The estate and end-of-life planning world still both primarily rely on paper documents and filing cabinets. SecureTheFile is a dedicated digital solution to help clients effectively prepare, organise and share life information with loved ones and trusted advisers. Advisers can store a client’s financial information such as a wealth management report and insurance information as well as their Will.
Clients are also able to upload other personal information such as funeral preferences and wishes for pets. At the Intergenerational transfer point documentation is then easily and readily available in order for Client affairs to be managed quickly and efficiently.
The SecureTheFile platform includes six libraries of information, broken into numerous subsections, all of which are easily accessible both by the adviser and the client:
- About Me: Personal Information, Vital Documents, Travel Information, Emergency Contacts, Digital Worlds, Medical Information
- Personal Finances: Financial Accounts, Loans, Bill Payments, Financial Assets, Benefits
- Financial Advice: Wealth Management Reports, Pension Policies, Protection Policies, Inheritance and Estate Planning, ISA and Savings, Trusts
- Solicitor: Solicitor Information, Will, Living Will, Power of Attorney, Marriage and Divorce, Executors, Mortgage Lender, Title Deeds, Shareholder Certificates, Trusts, Litigation
- Accountant: Tax Return, Tax Coding, Annual Accounts, P60, P45, CIS Record, UTR Record
- Property and Vehicles: Vehicles, Property, Appliances and Warranties
Clients are able to delegate Nominees’, such as their solicitor or accountant, family members or executors of their Will. The information is controlled by the client and they decide as to who this information is shared with and how much information is shared (clients are able to share entire libraries or individual folders). Access can be granted or revoked at any time and specific written instructions can be included.
SecureTheFile is available exclusively through professional advisers, with firms having the ability to license the product or charge their clients for the service. Each advisory firm account can be co-branded with the organisation’s logo and title.
The platform has multiple benefits for professional advisers, and in particular financial advisers. It provides an intuitive and user-friendly solution for both the adviser and the client, enabling advisers to tackle an array of challenges such as GDPR compliance to intergenerational planning. It also provides the adviser with a substantial high-quality, value-add service to their advice offering.
Josif Grace, Founder and CEO, SecureTheFile commented: “We recognise that intergenerational planning is a big issue for advisors as they seek to retain clients at the transfer point. SecureTheFile will enable Professional Advisors to have deeper and more meaningful relationships with their clients and their families. It will allow advisors to have fully understand their clients wishes and be able to influence and adapt to them. We look forward to working with the advisor community to enhance their retention of clients at critical life events”