Climate Change Risk in Finance – Edinburgh University
With the ever-increasing demand in the FS Sector, the University of Edinburgh has launched a new, short online executive education course regarding Climate Change Risk in Finance for financial services and fintech professionals. Supported by the Scottish Funding Council, the course is available to a limited number of 50 employees, with places available on the first-come-first-served basis.
Context
With climate-related financial risks ever-increasingly prominent, the effective management of such risks is a primary concern and consideration of investors and regulatory authorities. Topics such as sustainability within financial institutions and markets and climate change impacts in finance are becoming essential for effective decision-making finance professionals. With the University of Edinburgh being a world-leading academic hub for the exploration of how the climate is changing, the impact of this upon the environment, society and economies and thus, how climate adaptation and mitigation strategies are evolving.
About the Climate Change Risk in Finance Executive Education Course 📣:
- Topic: the consequences of climate change on finance – how to navigate data, measure risk, gain accurate insights for financial decision making, and capture opportunities related to transitioning to net zero, and the emerging climate-focused fintech products. This course aims to give financial services and fintech professionals the knowledge and confidence to engage with the topics of sustainable finance and climate-related financial risks, to understand their implications, and to take advantage of the opportunities ahead.
- This course for You if you are a financial professional working in either asset management, investment or commercial bank, pension funds, insurance, fintech, or similar.
- Outcomes: Over the course of 10 weeks, you will:
- Explore theories and practice of sustainable finance and climate-related financial risks.
- Be introduced to climate change fundamentals and terminology.
- Understand how to translate the complex climate information compiled from observations and near- and long-term model predictions for financial decision-makers.
- Understand how to assess and quantify the direct risks arising from climate change on physical assets, businesses, portfolios and supply chains; and also near-term disruptive impacts associated with mitigation policies, changing preferences, and ongoing technological change.
- Understand the impact of climate change on different financial asset classes (equity markets, fixed-income markets, real estate).
- Build confidence in applying learnings for financial decision-making.
- Format: 10 ”“weeks long, online course, mix of self-paced materials – pre-recorded and live sessions. Delivered by academic experts & practitioners; facilitated discussions & additional resources
- Start date: 3rd of May 2021.
- Registration: https://climatechangeriskinfinance.eventbrite.co.uk/
- Group bookings: Group discounts are available for colleagues from the same organisation. If you would like to register several participants from one company, please get in touch: Ksenia.Siedlecka@ei.ed.ac.uk
- The course fee of £1,500 includes all tuition, guest speaker engagements, and course materials.
- Further information:
https://www.business-school.ed.ac.uk/executive-education/climate-change-risk-in-finance
TEDxUniversityofStrathclyde: Event of the Year
Few student-led societies aim to organise a large-scale, international conference but for the past several years that is exactly what TEDxUniversityofStrathclyde has been doing. Operating since 2013, our Annual Ideas Conference is one of the highlights of the academic year and much anticipated by our forward-thinking and engaged global community.
Reflecting on the last twelve months, as a society we have achieved much. Our 2020 ‘Everything Connected’ conference was held on Saturday 14 March, just as the pandemic was taking hold and immediately before the first national lockdown. Our Lead Organiser Sheik Abdul Malik was battling multiple logistical challenges, with speakers flying in from the US and the Middle East he worked tirelessly to ensure we could deliver this outstanding event. The playlist of our 2020 speakers can be found on our dedicated YouTube channel.
Since our inception, we have been hosting our flagship event in and around the city of Glasgow, with last year’s conference being hosted at the impressive Technology and Innovation Centre (TIC) at the University of Strathclyde.
Not only are we well known for holding our events in outstanding venues, but we are also renowned for the quality of our speakers. We have had the great pleasure of inviting those at the cutting-edge of research, CEOs and leaders in business, engineers, activists and even astronauts! However, we are simply looking for an idea that is worth sharing and which will leave our audience inspired to make positive change.
We were overwhelmed by the support of our community last year, with tickets selling out in less than 60 minutes. Confident that we can deliver another brilliant event this year, and with a team of over 50 talented individuals working across multiple areas, from marketing and finance to logistics and curation, we are well underway to achieving our ambitious goals.
Scheduled for the last weekend of September and with an array of commercial partners and sponsors working with us, we are continuing to search for those individuals who have a unique experience or innovative idea they would like to share with our TEDxUniversityofStrathclyde community.
If you are interested in applying to be a speaker at this year’s Annual Ideas Conference, then you can do so here. The deadline for submissions is Wednesday 31 March at 11:59 pm so be sure to get your entries in soon.
If you would like to find out more about the work that we have been doing as well as see a playlist of our talks dating back several years, then visit our website.
We are happy to answer any queries and chat with those interested in working with us further so why not get in touch with us at tedxstrath@gmail.com
We hope to welcome you all to our Annual Ideas Conference and if you would like to keep up to date with our latest progress then you can connect with us on our social media channels: Facebook, Twitter, Instagram and LinkedIn.
*****For the included images can you please give photo credit to Sheik Abdul Malik******
Reflecting on an extraordinary year, looking to the future
For all the right reasons we’ve paused to reflect this week on the extraordinary year we’ve all had were the COVID-19 pandemic has touched all of us in some way, and we know for many it’s been extremely difficult. This past year has transformed nearly all aspects of life for many of us. And it’s been a year where technology and digital have been vital components for how we remain connected, work, learn and maintain access to the vital services we need.
Fintech Innovation has played an important role in helping us develop some of the new norms’ we first started talking about at the beginning of this pandemic. A year on and the fintech Community in Scotland has grown and evolved. It has also developed the propositions and services that have helped people and businesses maintain the access to vital financial services.
There’s a growing understanding of the fintech potential to make a difference through new technologies and access to data as well as determination in fintech businesses to build solutions that help future progress.
Scottish fintech innovations are looking to the future. Zumo’s hard work and smart money wallet and platform is transforming how we think about the future of crypto currency and money, with financial inclusion at its heart. Nudelaunched its app this week guiding students and newly employed to raise a deposit more quickly for their first home. Qpal is working to help those financially stretched or financially vulnerable and VistalWorks is working to protect people from fraud, keeping online shoppers safe from harm.
Scotland has an established and growing reputation for fintech for good, a point recently recognised in the recent UK Fintech Strategic Review, also known as the #KalifaReview. The Kalifa Review provided an opportunity to take stock of fintech across the UK and learn about the strengths and opportunities across all the regions. It positively identified the value of a Cluster model in helping economic growth and recognised Scotland’s fintech Cluster as a well-established environment for future fintech expansion.
The energy across Scotland’s fintech cluster offers the kind of practical support and determined optimism for more development and an ambition that sees us embrace more inspiring and often extraordinary opportunities as we look at the potential for cross sector innovation. If we needed one, the Kalifa Review has given us even more impetus to harness the fintech opportunity for economic growth and social change.
We have another catalyst in the Scottish Technology Ecosystem Review, led by Mark Logan, the recommendations here set out a clear programme for collaborative action. It’s a call to action for us all and offers a future vision of how technology can help catalyse the post-pandemic recovery. This week’s announcement from Scottish Government confirmed its commitment to utilise the potential and support the broader opportunity to strengthen Scotland as a tech ecosystem.
If we needed an accelerant the COVID-19 pandemic has given us a year where we’ve experienced the power of digital and the role for technology. We’re learning from the experiences of the past and turn our attention to the hopes for the future. The Kalifa Review and the Scottish Technology Ecosystem Review have a number of common themes, apart from the obvious technology connection both call for action through collaboration to help us recover and embrace our full potential for an extraordinary future. Collaboration sits at the heart of what we do at FinTech Scotland and if you’re keen to hear more please get in touch.
Accelerating Scotland’s tech-led recovery.
Programme backed by £7 million funding in the first year.
A leading expert in scaling digital businesses has been appointed to oversee an ambitious programme to establish Scotland as a world-class technology hub.
Mark Logan, former Skyscanner executive and Professor of Computing Science at the University of Glasgow, will advise ministers on implementing the recommendations stemming from his independent review of the Scottish tech ecosystem.
The programme will be delivered with £7 million Scottish Government funding in its first year (2021-22). This will include a £1 million fund to make strategic investments in organisations and activities ”“ such as tech conferences, meet-ups or training programmes ”“ that create the best possible environment for Scottish start-ups to succeed.
Procurement for a network of growth-focused entrepreneurial hubs known as “tech scalers” will open for bids later this year. It is anticipated that there will be five scalers in different parts of the country by 2022, with the aim of supporting around 300 high-quality start-ups over the next five years.
Progress will be supported by a gender-balanced advisory board composed of some of Scotland’s most successful entrepreneurs and digital leaders including:
- Lesley Eccles, founder and CEO of HelloRelish and co-founder of gaming platform Fanduel
- Roan Lavery, co-founder of online accounting firm FreeAgent
- Sarah Ronald, founder of Nile HQ service design agency
- Stephen Ingledew, Executive Chair of FinTech Scotland
Finance Secretary Kate Forbes said:
“Mark is one of the most respected figures in Scotland’s tech scene and his experience, passion and global profile will be invaluable in our joint mission to elevate Scotland’s tech ecosystem to world-class level.
“The expertise and industry perspective of the advisory board will also be instrumental in ensuring we create the conditions and infrastructure needed to incubate a stream of start-ups that reach sustained profitability and can do so at scale.
“From attracting young people into computing science courses to supporting a community of high-growth businesses, this programme of work will be critical in determining the future contribution of Scotland’s tech sector to our economic recovery.”
Online travel businesses Skyscanner was Scotland’s first “unicorn” ”“ the industry term for a tech company valued at more than $1 billion. Professor Logan joined the firm as Chief Operating Officer in 2012 until its acquisition in 2017.
Professor Logan said:
“It’s very exciting to witness the shared sense of mission and ambition across government, industry and the education sector in bringing the tech ecosystem review’s recommendations to life. I’m pleased to have the support of such an experienced board as we strive to make Scotland a leading technology economy.”
Background
Mark Logan’s Scottish Technology Ecosystem Review was published in August 2020 and the Scottish Government has committed to implementing its recommendations.
A full list of board members will be published ahead of its first meeting in May 2021.
The £1 million Ecosystem Fund is expected to open for applications in summer 2021.
A document setting out the Scottish Government’s initial expectations of tech scalers will be published shortly and used as a basis for discussions with potential bidders.
Work to develop the technology sector will contribute to the successful delivery of Scotland’s updated digital strategy which was published this month and complements the artificial intelligence strategy published earlier this week
Picture Credit: Pexels
AG Elevate Programme’s New Uptake
AG Elevate programme, a unique fast-track legal mentoring scheme for early-stage businesses, has a new uptake of eleven high-growth UK technology companies.
The programme, designed and delivered by the leading lawyers at Addleshaw Goddard, assigns successful candidates with a legal mentor and dedicated support over a ten-month period. In addition, the 2021 cohort will receive access to professional industry networks, bespoke collateral designed by Addleshaw Goddard and a collaborative online hub, as well as the opportunity to work alongside like-minded business professionals in the tech ecosystem to help elevate and grow their firms.
The ever-growing popularity of the programme was proven this year, with more than three times the number of applications previously received. The eleven organisations selected span across the UK, from Aberdeen to London. Lawyers from across all six of Addleshaw Goddard’s UK offices will now mentor and work with the dynamic firms which include:
- London-based firms Rosecut Technologies, Lumio Technologies, Flomark and Yayzy
- Scotland-based BlackArrow Financial Solutions
- Trojan Energy, headquartered in Aberdeen
- Manchester-based Voly and Assif
- Yorkshire-based Crysp
- WhereIsMyTransport and JUST: Access, both based in Leeds and London
David Anderson, a Corporate and Commercial Partner at Addleshaw Goddard, who specialises in technology said:
“The pandemic has accelerated digital innovation and the integration of technology in all aspects of our lives. We must recognise the vast array of opportunities and expertise tech companies across the UK bring towards the growth and rebuilding of our economy.
“Addleshaw Goddard is the only law firm to offer a dedicated programme of this calibre, and we’re incredibly excited to welcome our 2021 AG Elevate cohort on board. Every company selected champions innovation and pragmatic solutions in the technology sector in which they operate.
“Alongside colleagues across the UK and beyond, we’ll use our expertise in the sector to work closely with the chosen firms to help them navigate their way through the legal challenges frequently faced by fast-growing earlier-stage firms in a bid to propel them into the next chapter.”
Over its five year lifespan, the programme has supported more than 30 fintech and technology, entrepreneurs in accelerating innovation as well as helping establish an international presence. Although originally designed for fintech firms, this year marked the first year that the programme welcomed all high-growth tech businesses, placing a greater focus on businesses interested in sustainability.
For more information about the AG Elevate programme, visit: https://www.addleshawgoddard.com/en/ag-elevate/programmes/apply/2021-ag-elevate-cohort/
FCA complaints handling. Compliance and reporting by Workpro
Based in Edinburgh, the Workpro team is delighted to join the FinTech Scotland community. We specialise in software for FCA-compliant complaints handling and reporting.
Improved customer service and management insights are just as important to our customers. Resolving complaints well is important for customer retention and reputation, so good practice is good for business. Of course, the way complaints are handled is also subject to external scrutiny.
Workpro FS (Workpro Complaints for Financial Services) was a natural evolution from our origins serving ombudsman and regulators. Complaints in both sectors involve more than just expressions of dissatisfaction. They bring to light issues which can have serious implications for all parties. Robust processes must be followed, and lessons learned from outcomes. Root cause and trend analysis feed into continuous improvement initiatives.
Workpro’s client base extends from the UK to the US, Canada, Bermuda, Cayman Islands and beyond. Workpro’s HR case management configuration is also being adopted by financial institutions for employee relations casework.
While many big names are attracted to Workpro, our clients include small to medium sized firms, or niche departments within bigger-name organisations. Workpro clients appreciate all the accreditations, security, and resilience our system provides, without the big company overhead.
We would love to talk to you more about our products for the financial services community. Please contact us on info@casltd.com or visit our website: workpro.com
Fintech in Scotland
Season 1, Episode 1
Listen to the full episode here
An introduction to the fintech sector in Scotland with:
-Nicola Anderson, CEO at FinTech Scotland
-Kent MacKenzie, Partner and Global Head of Fintech & Regtech, Advisory Services at Deloitte
-Alberto Macciani, CMO at fintech Paysend
Together our guests covered what makes Scotland a great place for innovation generally and for fintech more specifically. The recent UK Fintech Sector Review commissioned by the UK Treasure highlights Scotland as the second UK fintech hub in number of firms. We explore the strength of a nation whilst discussing areas of improvement and what’s in train for FinTech Scotland in the coming years.
Encompass Secures Investment
The leading RegTech provider of Know Your Customer (KYC) automation software, Encompass Corporation, has secured investment from Beacon Equity Partners, a private equity group focused on companies that solve regulatory and compliance challenges. Beacon joins the existing investors in a broader capital round to fuel Encompass’ growth in 2020.
In addition, Beacon Equity Partner, Joe Bradley, will also join Encompass’ Advisory Council to further this important relationship. Bradley joins existing members Stephen Allen, former CRO of Macquarie Group; Kevin Gould, founder of IHS Markit, and Raymond W. Scott, CEO of Axolotl Corp.
Encompass has had a strong 12 months – the company has not only achieved significant revenue growth but has added a number of top global banks and law firms to its client list. A client list that already included the likes of Santander and the Nordic KYC Utility, Invidem, as well as key partners such as Accuity.
This follows the RegTech provider hiring 70 new staff members across all existing locations, but with a particular focus on expanding the organisation’s footprint in Singap[ore, the US, Serbia and Sweden. Key hires have included Alan Samuels as Head of Product; Chris Hodgens as EVP, Engineering; Robert Jessurun as Head of Banking Sales, and Tim Gentry as Head of Engineering Operations.
Wayne Johnson, CEO and co-founder, Encompass Corporation, said about the new investment announcement:
Beacon Equity Partners is the perfect match for Encompass, with this investment enabling us to continue our rapid growth journey whilst investing across our business to meet demand. The expertise Joe and Beacon bring in growing global companies is of great benefit, particularly as we work towards formally entering the North American market in 2021 ”“ a significant milestone for Encompass.
Joe Bradley, Partner at Beacon Equity, added:
Encompass is at the exciting stage where we like to invest in businesses ”“ they have a clear leadership position in a growing niche in the KYC space. The number of global banks adopting the platform reflects the momentum we have seen and is a telling sign of the growth potential of this company.
AutoRek takes on the Big Apple
AutoRek, a leading Fintech software provider to global financial service firms, is the Glasgow Chamber of Commerce’s selection for representing Scottish business in its virtual trade mission to the state of New York.
On the 23 and 24 March, the two-day event aims to attract Scottish companies from the Fintech sector that show interest in international exporting and expanding. 16 company-strong delegations that will participate in a market awareness session, and two business-to-business meetings based on specific requirements, with support from the Chamber’s local market partner.
Establishing international partnerships in the main aim of this trade mission, with the opportunity to explore joint ventures, distribution deals and other mutually beneficial practices.
Having been selected by the UK Government’s Department of International Trade to showcase the Best of British Innovation, AutoRek has continued to build overseas relationships. Just last week, AutoRek announced Scottish Equity Partners had completed a significant growth equity investment in its business, which will facilitate accelerating its US expansion plans.
Introducing edventure – Venture Builder and Accelerator
Introducing edventure, the first pan-European university venture builder and accelerator, bringing together universities’ best talents across Europe to solve society’s most important challenges. Edventure was founded in September 2020 by Zara Zaman, Ragnor Comerford and Fynn Comerford, students in their final years at the University of Edinburgh. The idea for edventure arose from observations they made about the student startup ecosystem in Europe, particularly in comparison to the US. Highly ambitious and talented students did not have the right idea or problem to work on, had difficulties finding co-founders and accessing resources, and were faced with the myth of the college drop-out successful entrepreneur. There was a need for a process to kick start their venture and guide them through the startup building process within a diverse community of likeminded individuals balancing their startup with their studies (and benefiting from the synergies between them!).
To tackle this, edventure takes a mix of existing startup teams and talented individuals to be matched with problems they are passionate about, and incubates them in a 10-week programme, with each week covering a key theme for startups. Throughout the programme, edventure provides its startups with resources, mentorship, tools, workshops, and access to its ever-growing European network.
What started as a student organisation grew from 3 founders to a team of over 40 people (over 50% female), helping 200+ students to build startups from universities across Europe. The startups in edventure’s cohorts so far are tackling issues ranging from climate change and waste reduction to inequality in accessing legal aid, to personal finance. One of edventure’s core principles is strength in diversity; their cohorts have hosted young entrepreneurs from over 60 different degree programmes, 45 nationalities, speaking over 40 languages and dialects.
https://edventure.vc/