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Sword Group Expands Cybersecurity and AI Capabilities with Acquisition of Edinburgh-based iDelta

Sword Group, a FinTech Scotland’s strategic partners, has announced its acquisition of Edinburgh-based fintech iDelta Ltd, a specialist firm focused on customised data solutions, cybersecurity monitoring, AI automation, and fraud analytics.

Founded in Scotland’s thriving tech ecosystem, iDelta has developed a strong reputation for its bespoke solutions in infrastructure and application monitoring, particularly within financial services. Its specialist consultants have created innovative tools for managing Open Banking data APIs and have developed extensions available on the popular Splunk marketplace. These solutions streamline the integration process with third-party technologies, enabling customers to effectively harness their data assets.

Kevin Moreton, CEO of Sword UK, described the move as a strategic step towards enhancing Sword’s capabilities in cybersecurity and artificial intelligence, particularly within the financial services sector.

“We’re pleased to welcome iDelta into Sword Group. This acquisition is well-aligned with our strategic vision for 2028 and significantly strengthens our cybersecurity strategy. Combining our expertise will enable us to deliver even greater value to our customers,” Moreton said.

Stuart Robertson from iDelta also welcomed the acquisition, noting the shared commitment between both companies towards innovation and technical excellence.

“Joining Sword opens exciting new opportunities for growth and collaboration. Our strong partnerships with Splunk and Cisco, combined with Sword’s extensive resources, mean we’re perfectly positioned to expand our offerings and accelerate our capabilities,” Robertson said.

Sword Group, known for providing business technology solutions across energy, public, commercial, and financial sectors, currently employs over 600 staff across its UK locations, including Aberdeen, Glasgow, Teesside, and London.

The acquisition underlines Sword Group’s strategic approach to bolstering its technical expertise in critical domains like cybersecurity and AI, reflecting broader industry trends towards greater digital resilience and smarter data utilisation.

Large Language Model Application for Regulatory Horizon Scanning: Case Study on ESG Greenwashing Regulations

This white paper explores the application of Generative AI, specifically Large Language Models (LLMs), to enhance regulatory horizon scanning within financial services. Using the Financial Conduct Authority’s (FCA) 2024 anti-greenwashing rule as a case study, we demonstrate how LLMs can be integrated into the strategic foresight process to detect early regulatory signals, analyse stakeholder feedback, and forecast future regulatory developments.

Our framework builds upon the traditional horizon scanning model, comprising exploration, assessment, application, and continuation, and incorporates advanced text analysis techniques including semantic similarity testing with models such as BERT and RoBERTa.

The study shows that LLMs can significantly improve the efficiency, accuracy, and scalability of horizon scanning by extracting meaningful insights from large, unstructured datasets. The results highlight the potential of LLM-driven foresight to enhance regulatory preparedness, guide compliance strategies, and inform policy design in an increasingly complex and dynamic regulatory environment. 

Read the research

FNZ Secures $500 Million to Support Long-Term Growth

Scottish fintech FNZ, a global provider of wealth management platforms, just secured $500 million in new capital from its existing shareholders. This funding will support the company’s long-term sustainable growth.  

Strengthening Financial Foundations

The injection of capital will enhance FNZ’s financial stability, providing a solid foundation to support its business strategies and customer relationships. With this strengthened financial position, FNZ is better equipped to navigate the evolving financial services landscape. 

A History of Strategic Growth

Since its inception in 2003 by founder Adrian Durham, FNZ has experienced significant growth. The company now partners with over 650 financial institutions and 12,000 wealth managers, administering assets exceeding $1.7 trillion for more than 24 million investors worldwide.  

FNZ’s growth strategy has included several key acquisitions:

• 2018: Acquired German investment platform ebase, expanding its European presence. 

• 2019: Purchased London-based JHC Systems Ltd, enhancing its wealth management software capabilities. 

• 2022: Acquired Appway, a Zurich-based client onboarding firm, to improve client integration processes. 

Leadership and Future Outlook

In August 2024, FNZ underwent a leadership transition, appointing Blythe Masters as Group CEO and Roman Regelman as Group President. This change was accompanied by an additional $1 billion investment from existing institutional investors, reflecting confidence in the company’s direction.  

Innovation Accelerator Fuels Glasgow City Region’s Fintech Future: Driving Growth, Jobs, and Global Leadership

The Centre of Innovation for Financial Regulation, known as the Financial Regulation Innovation Lab (FRIL), is shaping the future of regulatory responsible innovation as part of the UK government’s Innovation Accelerator programme. 

Led by FinTech Scotland in partnership with Universities of Strathclyde and Glasgow, FRIL is delivering pioneering advances in artificial intelligence and accelerating innovation that helps protect people from financial crime. It is also creating digital services that help citizens and businesses get access to the right financial products at the right time, helping citizens live better financially resilient lives. 

The FRIL initiative is already in the process of delivering an impressive return on investment of £6 to every £1 in public funding.

It is one of 11 projects funded within the Glasgow City Region portfolio of the Innovation Accelerator (IA) pilot programme, which is transforming the innovation landscape in the UK and paving the way for the future of place-based research and development (R&D) investment. 

Since its launch, the Innovation Accelerator programme has invested £100m in 26 transformative R&D projects between 2023-25, focusing on high-potential innovation clusters across three UK regions – Greater Manchester, West Midlands and Glasgow City Region and has been extended by £30m for 2025/26. The programme builds on regional cluster strengths and brings together the innovation ecosystem, to drive economic growth and technological advancement. 

The programme is led by Innovate UK, on behalf of UK Research and Innovation (UKRI) and the Department for Science, Innovation and Technology (DSIT) and co-created in Glasgow City Region with regional leadership to ensure it is locally led and focused on harnessing the region’s  strengths in advanced manufacturing, space, photonics, healthcare, precision medicine and financial technology (fintech).

With over 250 companies engaged, £47 million in co-investment secured, and a thriving ecosystem of high-growth sectors now flourishing, by focusing on innovation – rather than pure research – the Innovation Accelerator programme has leveraged Glasgow City Region’s existing strengths, infrastructure, and partnerships to accelerate progress.  The success of the Innovation Accelerator programme underscores the importance of long-term regional autonomy in funding decisions. With the right support, Glasgow City Region’s innovation ecosystem is poised for sustainable growth, ensuring it remains a premier destination for business, talent, and groundbreaking ideas.

Two years since its launch the projects supported are demonstrating globally competitive research and development that is putting the region’s innovation strengths on the map, including FRIL. 

FRIL is built on four workstreams namely innovation challenges, actionable research, skills and education, and knowledge exchange. Crucially FRIL’s industry-led accelerator model has demonstrated how to drive economic growth, job creation, and productivity in financial services and the broader economy as well as position Glasgow City Region’s as a global powerhouse for next-generation fintech innovation. It is accelerating business development by up to 12 months, advancing technology adoption and enabling fintech partnerships that are driving strong commercial outcomes.

This has all been reinforced by the industry co-investment in FRIL, with commitments reaching up to £20 million across financial services institutions such as Morgan Stanley, Lloyds Banking Group, Aberdeen, NatWest, TSB and Advanced Credit Union that have enabled the new services to be created and new fintech enterprises to emerge, as well as job creation projected and realised by FRIL FinTech grant award winners.

Through FRIL there are also 18 diverse fintech SMEs creating new jobs. Examples of this include the fast growing Scottish based scale-up Amiqus, which delivers a product that solves compliance and onboarding challenges for businesses taking on new clients or hiring staff. Amiqus has hired over 20 new employees with further growth plans in the pipeline, following an award from the FRIL innovation challenge initiative. 

FRIL is also helping UK regions beyond Glasgow City Region, including Greater Manchester and West Midlands to become globally competitive R&D powerhouses for financial technology, delivering strong economic returns and high-value employment.

Science Minister, Lord Vallance, said: 

“The Innovation Accelerator programme is unlocking new opportunities for growth in regions across the UK and this £30m investment backs further collaboration between business, academia and government to build on local innovation that can improve lives across the country.

“Glasgow City Region’s Financial Regulation Innovation Lab’s return of £6 for every £1 invested is helping to strengthen the economy, while its work in advancing technology in financial services will help position the Glasgow City Region as a hub for next generation fintech innovation that benefits the economy across Scotland and the wider UK.”

Susan Aitken, Chair of the Glasgow City Region Cabinet and Leader of Glasgow City Council, added:


“Glasgow has long been at the forefront of financial services and innovation, and setting up the Financial Regulation Innovation Lab cements our position as a leading global fintech hub. The FRIL initiative is driving significant economic impact, creating high-value jobs, driving investment, and fostering collaboration between industry, academia, and government. 

“It’s exciting to see how the Innovation Accelerator programme has been the catalyst to driving locally led innovation, resulting in significant economic growth and technological advancement.”

Nicola Anderson, CEO of Fintech Scotland, commented:


“We are incredibly proud of the impact that The Financial Regulation Innovation Lab is making, harnessing the power of financial innovation to drive economic growth. The investment in FRIL has been game changing, allowing us to support more businesses and drive meaningful economic impact both at a national and global level. 

“We continue to build on this momentum by further accelerating innovation and technology adoption whilst developing the skill base, enhancing academic application and driving better financial product engagement for customers.”

For more information and to find out about other projects that have been funded through the programme, visit the Innovate UK Business Connect website.

Scottish Enterprise Launches Innovative Export Assessment Tool to Support Scottish Businesses

Scottish Enterprise have just launched of a new and free digital Export Assessment Tool designed to help Scottish companies accelerate their international trade activities.

This easy-to-use digital tool provides tailored guidance, clearly identifying where businesses are on their exporting journey, recommending crucial next steps, and highlighting the available support to help achieve their international goals.

Completing the assessment takes less than 10 minutes, after which companies receive an individualised Export Progress Report detailing:

  • Export Stage: Clearly defines the current position in the exporting process and summarises progress made.
  • Next Steps: Provides specific, actionable tasks for moving forward.
  • Available Support: Highlights the extensive support network available across Scotland and the UK, guiding businesses towards the best resources to assist their exporting journey.

Scottish Enterprise is bridging a crucial gap in export support for companies not currently engaged directly with trade sector teams, empowering businesses to self-serve and progress confidently in the global market.

You can use the tool here.

Safello and Zumo Partner to Elevate Crypto Sustainability Compliance in Sweden’s Crypto Sector

Swedish cryptocurrency exchange Safello has partnered with Zumo, a leading digital assets platform specialising in carbon calculation and sustainability reporting. This strategic alliance is designed to help Safello meet the rigorous sustainability disclosure requirements set by the EU’s Markets in Crypto-Assets Regulation (MiCAR).

As MiCAR’s Article 66 comes into effect, crypto asset service providers (CASPs) operating within the EU must publicly disclose the environmental impacts of the digital assets they offer. With this collaboration, Safello proactively addresses this requirement, positioning itself as an early adopter of sustainability best practices in the cryptocurrency industry.

Zumo’s expertise will provide Safello with precise, transparent data on carbon emissions associated with crypto activities. This partnership allows Safello to meet regulatory standards and to strengthen trust among its stakeholders by demonstrating an active commitment to sustainability.

Tara Abid, Chief Compliance Officer at Safello, commented,

“Compliance is central to our business strategy. Our partnership with Zumo ensures we can deliver accurate sustainability data to our customers, maintaining our leadership position in regulatory alignment and transparency.”

Nick Jones, Founder and CEO of Zumo, said,

“Safello’s choice to partner with us highlights the increasing importance of sustainability reporting in crypto. Our Oxygen product suite enables businesses like Safello to align digital asset operations with net-zero targets and comply effectively with evolving EU regulations.”

With Sweden’s Financial Supervisory Authority mandating compliance with MiCAR by 30 September 2025, Safello’s proactive partnership with Zumo represents a forward-thinking step toward sustainability integration within the crypto sector.

For further details or to explore collaboration opportunities, contact Zumo

Snugg Introduces ‘Carbon Cashback’ for Energy-Savvy Homeowners

Businesses across the UK now have an exciting new opportunity to support their customers in becoming more energy efficient, thanks to Edinburgh-based fintech Snugg. The Carbon Cashback platform, launching initially in beta, enables businesses to offer homeowners annual cash rewards for achieving verified carbon reductions through home energy improvements.

This approach uses smart meter data to track home carbon savings such as those from installing insulation, heat pumps, or solar panels. Snugg then transform those savings into carbon credits for sale in the Voluntary Carbon Market. It’s a powerful incentive for homeowners, tackling one of the most significant barriers they face: the upfront cost of sustainability upgrades.

For businesses, the benefits are equally compelling. Partnering with Snugg offers companies a distinctive proposition to attract and retain customers, reinforcing brand commitment to sustainability. Additionally, participating companies gain valuable insights into customer energy consumption and carbon footprint reductions, crucial data for businesses aiming to lower their Scope 3 emissions and meet net-zero goals.

George Wilson, Carbon Markets Lead at Snugg, explains:

“The Carbon Cashback platform directly addresses the financial barriers homeowners encounter. For businesses, it’s a unique way to differentiate their offerings while actively engaging customers in sustainability initiatives. It also provides access to valuable emissions data, empowering companies to advance their net-zero strategies more effectively.”

The platform’s development was supported by the UK Government’s DESNZ ‘Green Home Finance Accelerator’ programme and has already demonstrated significant interest, with over 90% of testing participants keen to engage. Snugg is actively seeking early adopter businesses to join the beta phase, ahead of the wider market launch planned for later in 2025.

Businesses can play a very important role in accelerating the UK’s residential decarbonisation efforts (a market estimated at £250 billion). Importantly, this isn’t a greenwashing exercise. Rather, it positions businesses as genuine leaders in sustainability, supporting real, measurable carbon reductions.

If you are Interested in becoming a partner or learning more about Carbon Cashback, visit snugg.com/carbon-cashback.

A Guide for MiCA sustainability disclosures for cryptoassets

Scottish Fintech Company, Zumo wrote a very detailed guide on the implications of the Markets in Crypto-Assets Regulation (MICA) and its sustainability disclosure requirements for the crypto industry. The central idea is that MICA’s new regulations will significantly impact how cryptoassets are reported, particularly concerning their environmental sustainability.

Key takeaways from the article begin by explaining;

  1.     The MICA framework, established by the European Union, aimed at creating a unified regulatory environment for cryptoassets. This regulation addresses issues such as market integrity, consumer protection, and the environmental impact of digital currencies.
  2.     MICA mandates that cryptoasset service providers must disclose detailed information about the sustainability of their operations. This includes the energy consumption and carbon footprint associated with the production and use of cryptoassets. The article highlights that these disclosures are crucial for fostering transparency and accountability in the crypto sector.
  3.     The challenges that crypto firms may face in complying with MICA’s sustainability requirements, including the technical difficulty of measuring energy consumption accurately, the cost of compliance, and the need for standardised reporting methods. Zumo Tech emphasises that while these hurdles are significant, they are essential for the long-term viability of the industry.
  4.     Zumo Tech outlines the broader implications of MICA on the crypto industry. The regulation is expected to drive innovation towards more energy-efficient technologies and practices. It could also influence investor behaviour, as greater transparency may attract environmentally conscious investors. The article suggests that, in the long run, these changes could lead to a more sustainable and resilient crypto ecosystem.

The guide written by Zumo provides a comprehensive overview of MICA’s sustainability disclosure requirements and their potential impact on the crypto industry. The regulation will enhance transparency and drive sustainability, but it presents significant compliance challenges. 

To read the full guide, click the link here. 

Preparing for DORA: What UK Fintechs Need to Know

Season 5, episode 5

Listen to the full episode here.

Set to reshape how financial entities across Europe and beyond approach digital resilience, DORA is more than just another compliance requirement, it’s a game-changer for fintechs, financial institutions, and third-party service providers. 

What does this mean for UK fintechs, particularly in a post Brexit landscape? How can firms prepare, adapt, and turn compliance into a competitive advantage?

In this podcast we break down everything UK fintechs need to know about DORA, from key requirements to practical implementation strategies.

 Participant-Rob Mossop – Chief Digital Officer (CDO) at Sword Group

-Luke Scanlon – Head of Fintech Propositions, Legal Director, Pinsent Masons

-Mick O’Connor – Founder and CEO at Haelo

BLK’s £50 Million Funding, a Turning Point for Digital Commodities Trading

The commodities trading industry, historically reliant on traditional methods, has recently seen a surge of digital innovation. At the forefront of this digital revolution is Scottish fintech BLK, a pioneering UK-based online commodities marketplace, which has just secured an impressive £50 million equity investment from Panama-based Nimbus Capital. This substantial funding signals a shift toward technology-driven solutions within an industry ripe for transformation.

Commodities trading, involving everything from metals and energy to agricultural goods, has long suffered from inefficiencies and lack of transparency. Traders frequently navigate complex logistics, opaque pricing structures, and cumbersome administrative processes. BLK’s mission has been clear from the start, to disrupt these traditional trading barriers using advanced technology like blockchain and artificial intelligence (AI). With Nimbus Capital’s backing, BLK is now in an even stronger position to realise this vision.

Blockchain technology, well-known for its application in cryptocurrencies, holds immense potential for commodities trading. It enables unprecedented transparency by securely recording each transaction on an immutable ledger. This reduces the risk of fraud and error and fosters greater trust between buyers and sellers. With AI, BLK is further streamlining trade by optimising logistics, forecasting market trends more accurately, and significantly reducing operational costs. These technological advancements will reshape how commodities markets function, offering substantial competitive advantages to early adopters.

The £50 million investment will also directly support BLK’s operational expansion. Key plans include the strategic acquisition of new shipping vessels, which is crucial for expanding BLK’s logistics capabilities. Enhancing logistics will ensure BLK can efficiently meet rising demand, reduce shipping times, and improve the overall reliability of commodity supply chains.

The investment is a clear indication of BLK’s long-term strategy and market ambition. BLK has announced plans to list publicly via an IPO in 2025, a major milestone that will open new avenues for growth, visibility, and investor engagement.