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.
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.
Discover Agentic Workflows, the fintech revolutionising productivity with AI
6 months’ worth of work, completed in under 5 minutes, for less than 1 pence.
It’s a bold claim from Glasgow-based startup Agentic Workflows, and it’s turning heads in the AI space. By taking a highly innovative approach to Generative AI, they’ve built a platform that replaces cumbersome business processes with AI-powered “Agentic Workflows,” dramatically cutting costs, streamlining operations, and enhancing agility.
Rob Spencer, Founder and CTO, has been at the forefront of cutting-edge technology for most of his adult life. He started his career maintaining and calibrating weapon systems on the front line, later moving into IT, initially teaching Computer Science and practical IT at the Royal School of Signals. Following that, he transitioned into Financial Services in the City of London, where he led complex technical rollouts and transformational change initiatives.
It is that transformational change experience which provides the bedrock for Agentic Workflows. Imagine your company completing six months of work in under five minutes, at a fraction of the cost—how would that revolutionise your organisation’s productivity, customer service, and competitive edge?
Now, as a proud new member of the Fintech Scotland community, Agentic Workflows is eager to engage with fellow innovators, scale-ups, and established enterprises alike. Fintech firms often grapple with regulatory compliance, KYC processes, fraud detection, and operational inefficiencies, areas where AI-driven workflows could deliver immense value. By automating repetitive tasks and leveraging advanced data analytics, businesses can enhance their operational resilience, reduce costs, and streamline onboarding or transactional processes.
Moreover, generative AI has the potential to transform how customer interactions are handled, delivering hyper-personalised financial solutions and insights. Agentic Workflows’ platform aims to bridge the gap between technology potential and real-world application, helping firms quickly deploy AI solutions without the typical complexities and overheads of large-scale software projects. As the fintech ecosystem continues to evolve, partnering with an agile AI platform can be a powerful way to stay ahead in a competitive market.
With the technology developed and the platform built, Agentic Workflows is now looking to understand the challenges you face. If you’re exploring ways to harness the transformative power of AI within your organisation, or if you simply want to discover the art of the possible, please get in touch via the Agentic Workflows website. We look forward to collaborating with you and helping shape the future of financial services in Scotland and beyond.
Scottish Building Society and Legado to Enhance Member Communication
The Scottish Building Society is partnering with Scottish fintech Legado to improve the digital experience for members while aligning with the Society’s broader sustainability objectives.
A Digital-First Approach to Member Engagement
Scottish Building Society has long provided savings accounts and mortgage services and continues to evolve by embracing digital transformation. This latest partnership with Legado introduces an advanced communication platform designed to provide a seamless, secure, and user-friendly experience.
Legado, headquartered in Edinburgh, supports financial services brands across the UK, including FNZ, Moneyhub, and Co-op Legal Services. The company specialises in digital solutions that enhance customer engagement by offering a more structured and intuitive way to manage financial interactions.
Supporting Sustainability Through Paperless Processes
One of the key benefits of this partnership is the move towards paperless communication. By reducing the reliance on physical documents, the Society aims to lower printing and postage costs and reinforce its commitment to net zero targets. This initiative supports both operational efficiency and environmental responsibility, reflecting the broader trends within the financial services industry towards digital-first strategies.
Paul Denton, Chief Executive of the Scottish Building Society, said.
“Our members are at the heart of everything we do, and we are always looking at ways to improve their experience with us and to ease the journey for new members. Legado’s technology enables us to do exactly that, while allowing us to progress towards our net zero goals”.
A Commitment to Innovation and Service Excellence
The collaboration between the Society and Legado is a reflection of changing member expectations. Consumers increasingly seek more streamlined, personalised interactions with financial institutions. Scottish Building Society will be able to offer an improved digital journey for its members, strengthening communication channels and enhancing overall service delivery.
Josif Grace, CEO and Founder of Legado, highlighted the value of the partnership:
“Scottish Building Society will now be able to deliver a more streamlined, secure, and effective communication experience for its valued members. While we work with financial services brands across the UK, it’s great to be working with their team here in Edinburgh where we’re also headquartered.”
Regulatory Horizon Scanning Reinvented by HAELO
According to Thomson Reuters, a new regulatory update is issued every seven minutes. Compliance is critical and relies on manual monitoring methods which is simply no longer viable. That’s why HAELO has launched REGENESIS, a cutting-edge regulatory horizon scanning solution designed to revolutionise how financial institutions navigate compliance challenges.
The Journey to Innovation
HAELO’s journey towards REGENESIS began with a bold step into the Financial Regulation Innovation Lab’s (FRIL) first innovation call in 2024. This led to a transformative twelve-week collaboration with industry mentor Joanne Seagrave, Head of Regulatory Affairs at Tesco Bank, and her team. The partnership allowed HAELO to refine its vision, tailor a real-world use case, and build a proof of concept that directly addresses the increasing regulatory burden faced by financial institutions worldwide.
REGENESIS
Regulatory change is more than a compliance issue, it’s a business risk and operational challenge. Financial services firms must not only track, interpret, and implement new regulations but do so at scale and speed. REGENESIS cuts through the noise by combining expert curation, automation, and advanced data analytics, transforming regulatory monitoring from a labour-intensive process into a strategic advantage.
Key Benefits of REGENESIS:
- Comprehensive Global Intelligence – Aggregates insights from hundreds of regulators and millions of documents in one accessible platform.
- Rapid, Actionable Insight – Provides instant clarity on regulatory changes, enabling firms to make informed decisions faster.
- Future-Proof Compliance – Keeps financial institutions ahead of the curve, ensuring resilience in an unpredictable regulatory landscape.
To showcase its potential, HAELO is offering an exclusive, complimentary three-month trial of REGENESIS for financial services firms. This is an opportunity to explore how automation, expert-driven intelligence, and advanced analytics can enhance regulatory threat intelligence, improve accuracy, and reduce compliance costs.
Secure your trial today by contacting HAELO at Let’s Chat | HAELO.io
Scotcoin makes its debut on the MEXC cryptocurrency exchange
Scottish fintech Scotcoin made its debut on the MEXC cryptocurrency exchange. With a combined token valuation of $250 million (£200 million) and a trading paired with Tether (USDT), the world’s most liquid stablecoin, this listing represents a major development for the ethically driven digital currency.
Scotcoin isn’t just another token on the blockchain. It’s a mission-driven movement, with a firm commitment to social good, sustainability, and financial inclusivity. Scotcoin is setting itself apart by proving that digital assets can be a force for positive change.
What This Means for Scotcoin and Its Community
Being listed on MEXC, a top 20 global exchange with an average daily trading volume of $3 billion, will provide greater accessibility, liquidity, and credibility for Scotcoin. This move paves the way for mass adoption, allowing thousands more individuals, businesses, and charities to integrate Scotcoin into everyday transactions.
The listing is also a catalyst for expansion. Funds raised will be channelled into recruiting a dedicated full-time management team for The Scotcoin Project Community Interest Company (CIC). This will supercharge efforts to expand the Scotcoin ecosystem, developing partnerships with organisations that accept Scotcoin as a form of payment for goods and services.
A Crypto With a Cause
Unlike many cryptocurrencies that focus purely on speculation, Scotcoin’s vision is linked to community impact. Since its inception, it has backed initiatives providing food, clothing, and shelter to those in need. This next chapter will see Scotcoin directly distributed, via approved agencies, to third sector groups and vulnerable communities, ensuring that blockchain technology serves real-world humanitarian needs.
With over 6,000 holders globally and a growing number of charitable partnerships, Scotcoin is proving that crypto can be about more than just profits, it can be about people.
Commenting on this milestone, Temple Melville, CEO of The Scotcoin Project, said:
“This listing is a huge step forward in our journey. It not only increases accessibility for individuals, businesses, and charities, but also allows us to build a stronger, purpose-driven ecosystem. With a dedicated team, we can now focus on expanding partnerships and—most importantly—providing greater support to those in need.”
What Existing Scotcoin Holders Need to Know
To ensure a smooth transition, existing Scotcoin holders must exchange their old tokens for new ones before trading. Full details on how to do this securely are available on the official Scotcoin website: scotcoinproject.com
Sustainable Fintech Firm ESG360° Expands in Glasgow
ESG360°, a sustainability-focused fintech company, announces plans to expand its operations in the Glasgow. The London-based firm has secured a £1 million grant from Scottish Enterprise to support its growth, with ambitions to create over 30 high-value jobs in the next three years.
Founded to help businesses navigate the complexities of Environmental, Social, and Governance (ESG) compliance, ESG360° set up its Glasgow office last year. With this investment, it aims to scale its operations, reinforcing Scotland’s position as a hub for fintech innovation.
Why Glasgow?
For ESG360°, Glasgow offers the ideal mix of talent, innovation, and collaboration. The city has a strong fintech ecosystem, bolstered by institutions like the Universities of Glasgow and Strathclyde and organisations such as FinTech Scotland.
Anj Chadha, Founder and CEO of ESG360°, sees the expansion as a step towards delivering greater impact: “Glasgow is the ideal location for our next phase of growth. This grant from Scottish Enterprise is a vote of confidence in our vision and our ability to deliver measurable impact for businesses worldwide.”
ESG360°’’s expansion is also backed by Invest Glasgow, which provided a property grant, and FinTech Scotland, which recognised the company as one of the winners of its ‘Shaping the Future of ESG in Financial Services’ innovation call, awarding it some more funding to develop their solution. These partnerships are helping ESG360° build strong links with Scotland’s financial and academic institutions, enhancing its capabilities in ESG compliance and fintech innovation.
The Growing Role of ESG in Fintech
Recent research from Bain & Company suggests that nearly 90% of business leaders across Europe, the US, and Asia recognise the need for advanced technologies to achieve sustainability goals. ESG360° believes its AI-powered ESG platform is well-positioned to meet this demand.
Fintech and sustainability are increasingly intertwined, with businesses needing smarter tools to track their ESG commitments. ESG360°’’s platform leverages AI and data analytics to provide businesses with clear, actionable ESG insights, helping them comply with evolving regulations and investor expectations.
Scotland’s Fintech Momentum
The fintech sector in Scotland has been on a steady rise, growing tenfold since 2018 and now supporting over 11,000 jobs. Business Minister Richard Lochhead highlighted the importance of ESG360°’’s expansion:
“The fintech sector has grown 10-fold in Scotland since 2018 and supports more than 11,000 jobs. This welcome expansion by ESG360° shows the pace is not slowing and demonstrates Scotland’s position as the natural home for businesses operating at the cutting edge of data, technology and sustainability.”
Nicola Anderson, CEO of FinTech Scotland, highlighted the significance of ESG in fintech’s future:
“At FinTech Scotland we believe that harnessing technology and collaboration can accelerate sustainable finance solutions. ESG360°’’s approach reinforces the role of fintech in shaping a more sustainable and resilient future, strengthening Scotland’s position as a leading fintech cluster.”
Scottish Enterprise’s support for ESG360° aligns with its broader economic strategy. One of its long-term goals is to double the number of scale-up businesses in Scotland over the next decade by focusing on high-growth industries, including fintech.
Reuben Aitken, Managing Director of International Operations at Scottish Enterprise, echoed this sentiment:
“We’re genuinely delighted that ESG360° has chosen Glasgow as the location to scale its business. It joins a growing number of internationally headquartered fintech companies who’ve set up operations in the city due to its reputation as a centre of talent, innovation and collaboration.”
Generative AI, Blockchain & Beyond: The Trends Defining Fintech’s Next Era
Block written by Kristiana Sylvester, Client Services Associate at fintech TreasurySpring.
The fintech landscape is evolving at lightning speed, fuelled by pioneers embracing cutting-edge technologies to transform financial services. From democratising cash investments to revolutionising payments and lending, start-ups are breaking down barriers and redefining access to financial resources. Whether you’re a budding entrepreneur launching a fintech venture or an investor seeking the next big breakthrough, staying ahead in this dynamic space means staying informed, adaptable, and innovation-ready. Let’s dive into some key trends driving the fintech revolution.
Generative AI: Revolutionising Financial Services
Generative AI is reshaping industries, and fintech is no exception. By driving innovation in customer interactions, decision-making, and operational efficiencies, AI is enabling firms to outperform competitors and redefine benchmarks. Intelligent chatbots and automated decision-making are just the beginning. According to Gartner, 80% of financial firms are expected to adopt AI by 2026, with investments projected to reach $118 billion by 2032[1]. This rapid adoption is empowering institutions to deliver hyper-personalised solutions, improving both customer satisfaction and financial outcomes.
Blockchain: Disrupting Banking and Lending
Inefficiencies have long plagued core banking services such as loans, mortgages and payments. Enter blockchain, a technology streamlining operations, reducing counterparty risks, and accelerating settlement times. By enabling secure, real-time verification of KYC/AML data and financial documents, blockchain minimises operational risks and simplifies credit scoring. Furthermore, the digitisation of assets facilitates real-time collateral management and regulatory compliance. Major players like PayPal, Mastercard, and American Express are leading this disruption, proving that blockchain is more than just a buzzword—it’s a game-changer.
Democratising cash investing
Gone are the days when premium investment opportunities were reserved for institutional players. Fintech platforms and mobile apps now empower individuals and smaller firms to invest excess cash efficiently, bypassing traditional intermediaries like brokers. With streamlined onboarding and access to niche products, users can monitor portfolios in real time, minimising risk, and maximising returns. This shift to direct control over investments is transforming cash management and enabling businesses to operate like sophisticated financial institutions.
Our company, TreasurySpring, is a good example of this this democratisation by providing unparalleled access to highly rated cash investments called “FTFs” (Fixed-Term-Funds) via an intuitive digital platform. It unlocks access to governments, investment-grade banks, and corporations, spanning multiple currencies. TreasurySpring simplifies cash management for entities ranging from FTSE 100 firms to start-ups and enables clients to manage liquidity with the same sophistication as large institutions.
Reinvention as the Key to Longevity
The fintech space is a constant race to innovate. For companies, success hinges on reinvention—shifting from one growth curve to the next before stagnation sets in. However, only a handful of companies manage to make this leap successfully when the time comes, often because they initiate the reinvention process too late. According to Accenture, the pace of change has surged 183% since 2019, and 83% of organisations have accelerated transformation efforts in response[2]. By adopting emerging technologies and fostering a culture of adaptation, businesses can not only survive but thrive in this fast-changing environment.
[1] https://www.gartner.com/en/documents/4726631
[2]https://www.accenture.com/us-en/insights/consulting/total-enterprise-reinvention
15 firms selected to tackle financial crime
We’re thrilled to announce the 15 innovative firms selected to progress to the next stage of our Innovation Call on Financial Crime. These firms will work hand-in-hand with industry partners and academic experts to tackle challenges of financial crime head-on.
Each firm brings a unique perspective and solution to the table, showcasing the power of diverse collaboration in tackling one of the most significant issues facing the financial sector today.
In this blog, we spotlight each of these firms, showcasing their vision, solutions, and the impact they’re set to make as they join us in shaping a safer financial future.
Amiqus – amiqus.co
Amiqus is the UK’s most trusted compliance and onboarding platform supporting more than 500 organisations of all size and sectors; including the UK Government, The NHS and FNZ. Over 2.5 million people have been through Amiqus checks to date, and currently in the region of 74,000 checks are run monthly by our clients. We do this through offering a singular platform that can perform the whole ID Verification and onboarding process, end to end.
Amiqus was announced in Deloitte’s annual Fast 50 awards as the fastest-growing technology company in Scotland, the 20th fastest-growing in the UK and the 5th fastest-growing fintech in the UK. This growth has meant that we have the ability to continuously reinvest back into the product and innovate the ID Verification process. We are dedicated to continuous improvement and innovation in this area and would relish the opportunity to do this in conjunction with FRIL and the challenge sponsors.
Argus Pro – https://arguspro.co.uk/
Argus Pro offers the comprehensive FinCrime HealthCheck™, which evaluates the effectiveness of all aspects of anti-financia
l crime (AFC) policies, procedures, processes, controls, and compliance culture, going far beyond traditional assessments. The FinCrime HealthCheck™ identifies gaps across teams, functions, geographies and leadership, aligns with leading regulatory frameworks and best practices outlined in the FCA’s Handbook and Financial Crime Guide, JMLSG, and the Wolfsberg Group’s Principles for Auditing for Effectiveness, and provides tailored recommendations to enhance effectiveness.
Our proposed platform, delivered as part of this Innovation Call, will combine this assessment with cutting-edge tools to deliver bespoke interpretations of current LRG updates, detail specific obligations, and anticipate future regulatory requirements, ensuring firms stay ahead of risks.
Barrier – https://www.barriernetworks.com/
At Barrier, our mission is to help our customers build cyber resilience and develop strategies to defend against cyber-attacks. We are a cyber security service provider and are proud to be associated with 2 global leading identity solution vendors in responding to this innovation challenge:
-V-Key, an end-to-end innovative proposition designed to revolutionize identity authentication and authorisation processes, enhancing both security, efficiency & privacy
-Sumsub, a global identity verification provider, leverages cutting-edge technologies to provide a seamless end-to-end secure identity verification experience.
In participating in FRIL, we will seek to validate our collaborative proposition and its potential to transform the identity verification and authentication landscape with partners engaged in the programme.
Datavillage – https://www.datavillage.ai/
Datavillage empowers organizations to combat financial crime by enabling secure data collaboration and access to fraud cases, flagged companies, suspicious accounts, devices, and more. This approach enhances the detection of fraud patterns, enables the fine-tuning of AI models, and supports advanced analytics for more effective prevention and response.
Through participating in the Financial Regulation Innovation Lab, we would like to leverage insights and feedback from industry partners to refine and scale solutions for broader commercial deployment.
DX Compliance – http://dxcompliance.com/
Our proposed solution uses Generative AI that offers a unique opportunity to address these challenges by automating the repetitive aspects of alert reviews, enhancing the decision-making process, and providing more nuanced risk assessments. The core proposition involves developing an AI-powered system that leverages large language models (LLMs), deep learning, and natural language processing (NLP) to support and augment human decision-making not only along the KYC processes.
We look forward to working with partners across the Financial Regulation Innovation Lab to deepening our understanding across the challenge statements and broader financial crime domain.
Encompass – https://www.encompasscorporation.com/
Encompass enables fast, accurate identity validation and verification of corporate customers and a gold standard approach to KYC. Our award-winning corporate digital identity (CDI) platform incorporates real time data and documents from authoritative global public data sources and private customer information to create and maintain digital risk profiles.
With encompass the world’s leading banks improve customer experience and increase business opportunities through consistent regulatory compliance and risk mitigation.
Through close collaboration with FRIL partners, we want to explore how our existing corporate identity platform can develop further to benefit organisations and their specific requirements for their Know Your Business onboarding and maintenance processes.
Haelo – https://haelo.io/
HAELO is a RegTech innovator transforming Governance, Risk, and Compliance in
Financial Services. Our Horizon Scanning solution, REGENESIS, delivers instant access
to regulatory updates at a glance providing early detection of changes and empowering management to mitigate risk and avoid costly breaches.
Our IO (Intelligence Overlay) platform is at functional prototype stage and is designed to work in concert with REGENESIS to create a golden thread connecting regulation with obligations, controls and personal accountabilities. Through the FRIL programme, we would like to work with industry partners to develop our approach in the application of this platform and its role in the financial crime domain.
Lasting Asset – https://lastingasset.com/
LastingAsset is a Trust-tech on a mission to stop fraud. Our core solution is a cryptographic device-to-device encryption protocol that tackles the growing menace of impersonation fraud. By combining advanced cryptography with decentralised identity management, it enables individuals and organisations to authenticate counterparties with unparalleled accuracy and privacy.
During the programme we will also pursue our innovation on fraud information sharing via a decentralised fully homomorphic encrypted network.
Pytilia – https://pytilia.io/
Pytilia propose to address the ‘strengthening operational efficiencies in alert dispositioning’ challenge to optimise the manual review of KYC-related alerts, powered by our “always learning” feedback loop engine. We have successfully used a solution blueprint combining rules-based & AI-powered logic to identify anomalies/alerts and present these for inspection & action by human analysts in our:
•winning pitch for FRIL’s inaugural Innovation call on “Simplifying Compliance”;
•PoC solution for the FCA’s recent Market Abuse TechSprint;
•Innovate UK-funded Cyber-AI Hub project (demonstrating its cross-domain applicability)
During the FRIL programme, guided by this previous experience, we propose to focus on the feedback loop aspect of such hybrid systems. We look forward to working with partners to demonstrate KYC alert filtering, prioritisation and reinforcement learning using scenarios/data relating to the alert review process.
SenGuard – https://senguard.co.uk/
SENGUARD protects older adults from financial fraud by using real-time data analysis to detect and prevent scams before they happen.
SENGUARD’s innovative approach to financial crime prevention combines cutting-edge technology with a deep understanding of vulnerable users’ needs. Our solution not only addresses current financial crime patterns but is designed to evolve and adapt as new threats emerge.
With support from partners in the FRIL programme, we can enhance our capabilities and scale our impact in protecting vulnerable users from financial crime.
Serene – https://www.myserene.io/
Serene leverages AI-driven insights to identify vulnerable consumers at heightened risk of scams, helping financial institutions prevent financial crime proactively. By using real-time detection, tailored interventions, and scalable integrations, we align with regulatory frameworks like FCA Consumer Duty and PSR reimbursement requirements, ensuring compliance while enhancing customer protection.
Through participating in the Financial Regulation Innovation Lab, we would like to collaborate with partners and validate Serene’s predictive model for identifying scams through Vulnerable Characteristics.
Sopra Steria – https://www.soprasteria.co.uk/
Our innovative solution called the Optimised Decision Engine (ODE), leverages our unique and patent pending AI engine to generate and optimise human-interpretable rulesets for business decisioning, particularly in detecting fraud, scams, and money laundering. Unlike traditional black-box AI solutions that often lack explainability, ODE prioritises transparency, trustworthiness, and auditability, ensuring that its outputs are clear and comprehensible.
Through participating in the Financial Regulation Innovation Lab, we look forward to working with partners to exploring the calibration of the tool with a wide range of data volumes and types, understanding the optimal configuration for each dataset.
Swordbreaker – https://www.swordbreaker.co.uk/
Ingenious protection against ransomware with minimal access to the systems and no access to the data it protects. The product we are building doesn’t just raise the alarm; it actively disrupts cyber criminals as they try to steal your data and sabotage your systems.
Swordbreaker’s solution can protect any operating system, including legacy and Operational Technology (OT) from bulk data theft and file encryption. It works on its own or alongside existing security tools to reduce your risk from ransomware.
We would like to work with FRIL partners to deepen our understanding of their risks in financial crime and their regulatory requirements to help us shape our first solution and design Swordbreaker’s product suite for the future.
Threat Fabric – https://www.threatfabric.com/
ThreatFabric enables safe & frictionless online customer journeys by integrating industry-leading threat intel, behavioural analytics, advanced device intelligence and over 10.000 adaptive fraud indicators. We will be seeking to progress two propositions centred around 1) Data-driven, Digital Fraud and Scam Detection and 2) Proactive Mobile Threat Intelligence (MTI).
As part of the FRIL programme, we would like to explore whether new data sources can be used to provide further coverage for the hardest-to-detect fraud and work with partners across data such as telecommunications, smshing and location data.
VeriFoxx – https://verifoxx.com/
Verifoxx enables financial institutions to share verified intelligence, to tackle financial crime and fraud, but without any data ever leaving its owner, reducing privacy and commercial risks. Leveraging Privacy Enhancing Technologies such as Zero Knowledge Proofs (ZKPs), Multi-Party Computation (MPC) and Trusted Execution Environments (TEEs), Verifoxx addresses the critical challenge of how different companies can collaborate and connect data points, but without ever exposing their data.
Through the Financial Regulation Innovation Lab, we would like to explore with partners how the financial services and telco sectors could exchange intelligence to investigate or even stop a scam from happening.
Discover Nethermind as they join the FinTech Scotland Community
Nethermind, a fintech that specialises in blockchain research and engineering company, just joined the FinTech Scotland community.
This contributes to Nethermind’s ongoing expansion and aligns with its strategic efforts to drive innovation within the financial technology landscape of Scotland.
As part of its expansion, Nethermind has established its Hardware Research and Development arm in Edinburgh led by Nathan Jay, Head of Hardware Engineering, leading product development of new technologies applicable to digital identity, blockchain and fintech.
By being part of Fintech Scotland, Nethermind will position itself at the heart of Scotland’s technological development in financial services, leveraging the country’s rich academic resources and its thriving hubs of engineering excellence such as the National Robotarium and The Data Lab.
“Joining FinTech Scotland represents a significant step in our growth strategy,” said Antonio Sabado, Chief Growth Officer, Nethermind. “We are excited to work alongside other industry leaders and contribute to Scotland’s vibrant fintech community. Our expertise in blockchain infrastructure and commitment to innovation perfectly aligns with FinTech Scotland’s vision for the future of financial technology.”
Through this partnership, Nethermind is looking forward to actively participate in FinTech Scotland’s community, with the long-term vision of contributing to Scotland’s innovative fintech sector and advancing financial services innovation.