Scotland, a thriving fintech sector
As part of the series on "Innovation in finance" the BBC have produced a video exploring the fintech developments in Scotland
It has been produced in collaboration with Innovate Finance, Scottish Enterprise, Direct ID and Fintech Scotland
The video includes interviews with FinTech Scotland's Nicola Anderson, DirectID's founder and CEO James Varga and students from the University of Strathclyde in Glasgow and Newbattle High School in Edinburgh
The video covers how fintech is already impacting every aspect of society with the aim of making the world a better and fairer place for all through innovation.
Scotland is highlighted as an ideal place to lead the fintech movement with its rich history of both financial innovation and entrepreneurship. This is in addition to the great work done by universities in producing the talented people of tomorrow as well as the research that will drive innovation. For example, the University of Strathclyde in Glasgow was the first in the UK to launch an MSc in fintech.
As an example of entrepreneurship, the innovative DirectID is showcased to demonstrate how the use of financial data and technology, can help people with low or no credit score access financial products they would previously have been refused.
Scotland is one of the best places to start and grow a fintech business because of the quality and cohesiveness of the cluster. With over 130 fintech firms in the fintech community, 50 established global financial firms, a vibrant tech scene, mobilised world-class universities, a strong presence of the regulator and the support of the Scottish Government.
For this reason, Scotland is attracting more and more fintech firms from around the world and developing a fintech cluster which is innovative, collaborative and inclusive for all "