Encompass Corporation Welcomes Neil Acworth as New CISO to Fortify Global Banking Trust
Encompass Corporation, a fintech based in Scotland and a leading global provider of real-time digital Know Your Customer (KYC) solutions, just announced the appointment of Neil Acworth as its Chief Information Security Officer (CISO). Acworth’s entry is a significant milestone for Encompass in its mission to provide gold-standard information security processes to global banking institutions.
Acworth brings to the table an impressive array of experiences, having navigated through the tech space with roles such as Chief Technical Officer (CTO) and Chief Information Officer (CIO), particularly within the Regulatory Technology (RegTech) sphere. His appointment is reinforcing Encompass’ capabilities in delivering seamless, data-focused processes crucial for the safety, compliance, and operational efficiency of financial institutions. This move is especially pertinent given the ever-evolving business and regulatory landscape where security remains a key concern across the financial services industry.
In his new role, Acworth will spearhead the information security team at Encompass, driving the company’s ongoing endeavors to embody and promote the highest standards in combating financial crime and fostering business growth. His leadership is expected to further solidify Encompass’ stature on the global stage as a beacon of trust and excellence in information security.
Neil Acworth, Chief Information Security Officer at”¯Encompass Corporation,”¯commented:
“I’m delighted to join an industry-leading business that is growing and strengthening its value every day. Information security is of the utmost importance to banks and financial institutions, and they need to see that we take it as seriously as they do. It’s clear that Encompass recognises this and is actively working to cement its place as a best-in-class partner.
“I’m excited to bring my leadership skills, perspective and technical expertise, gained from decades of experience, to this role and play my part in the business enhancing its reputation and success.”
Stuart Barnard, Vice President of Finance and Business Operations at”¯Encompass Corporation,”¯added:
“Compliance is at the heart of what we do, and hiring Neil as our new CISO brings this to life, in terms of how we operate internally and externally. For banks, we know security isn’t just about ticking a box, it’s business critical, and we are focused on being the proactive and trusted partner that our customers need.
“Neil has outstanding technical and business authority, gained from his vast industry experience. Neil‘s customer-focused approach also means that he is the ideal leader to help our customers operate most effectively within what is a fast-moving and pressured industry landscape, ensuring they feel safe with Encompass.”
Techscaler partners with FinTech Scotland to accel-erate sector growth
Techscaler, the Scottish Government’s tech startup support programme, and FinTech Scotland, the cluster body driving Scotland’s fintech innovation, announce a strategic partnership poised to drive forward Scotland’s fintech sector development. FinTech SMEs now employ more than 10,500 people across 226 enterprises in Scotland, with around 38% of fintechs having reached scale-up stage.
Nicola Anderson, CEO of FinTech Scotland, said:
“This collaboration is about getting behind Scotland scaling for tech, together. It underscores our joint dedication to cultivating innovation and showcasing the vibrant fintech community in Scotland. We look forward to bringing tangible benefits to our scaling fintech SMEs, and sharing our sector expertise with Techscaler founders, to build a robust and forward-thinking fintech cluster.”
FinTech Scotland’s affiliated scaling firms will now be able to access the comprehensive benefits offered by Techscaler membership, opening the door to an extensive network and support system of mentorship, educational courses, community events, and more, enhancing collaboration opportunities and fostering growth for fintech innovators.
Techscaler runs three main programmes – Startup First Steps, Startup Next Steps, and Reforge. Techscaler’s partnership with Reforge, the world’s leading career development platform for top-tier professionals in tech, brings access to Silicon Valley playbooks and best practices to founders in Scotland who are scaling their teams.
Yasmin Sulaiman, VP of Partnerships for CodeBase, said,
“Connecting the diverse parts of the tech ecosystem is a huge part of our job running Techscaler for the Scottish Government. When organisations like ours and FinTech Scotland come together to understand founders’ needs, we’re able to offer a much stronger suite of support and join up founders with the opportunities they’re looking for to grow. We’re looking forward to growing our partnership, and helping connect our community to FinTech Scotland’s expertise.”
Innovation Minister Richard Lochhead said:
“Our £42 million Techscaler network is already showcasing some of Scotland’s most promising start-ups. This partnership with FinTech Scotland is another example of how the Techscaler network is helping to galvanise our innovative, collaborative and inclusive tech community by sharing knowledge and supporting growth.”
Richard Lochhead added:
“Progress like this demonstrates Scotland’s ambition to become one of Europe’s leading start-up communities. We are setting an example and helping drive a fair and growing economy.”
Techscaler’s fintech-focused members will be introduced to the resources and opportunities provided by FinTech Scotland, bringing sector specific support to fintech founding teams. This collaboration ensures that Techscaler members operating in the fintech sector receive the most relevant support to their sector, enabling them to tap into a broader ecosystem and lean into finance-specific challenges.
To mark the initiation of the partnership, Techscaler and FinTech Scotland will host a Founder Roundtable next month to gather insights from fintechs, providing founders with the opportunity to engage directly with industry leaders and peers. The insights gathered from the roundtable will be instrumental in curating activities and support mechanisms that meet the fintech community’s needs. The roundtable event will take place at CodeBase in Edinburgh on Wednesday 3rd April at 10.30am after Unfiltered, CodeBase’s monthly open networking event.
Colin Hewitt, CEO and Co-founder of Float Cash Flow Forecasting, said:
“Being part of the CodeBase community through our journey with Float has provided us with a dynamic workspace and access to the right people which has played a pivotal role in shaping Float’s success. I’m excited about the partnership between Techscaler and Fintech Scotland, it signals an exciting era for Scotland’s fintech ecosystem, and a positive sign of the continued evolution of this vibrant community.”
Scotland’s commitment to fintech innovation is evident in its ten-year sector roadmap, targeting the creation of 30,000 jobs and an ambitious economic value increase of over 330%, surpassing £2bn by the end of the decade. This strategic vision aligns with the country’s focus on four key segments: open finance data, climate finance, payments and transactions, and financial regulation.
Through the partnership, Techscaler will lend its expertise to initiatives such as the Financial Regulation Innovation Lab (FRIL), launched by FinTech Scotland in December in partnership with mutual partners the University of Strathclyde and University of Glasgow. This initiative seeks to advance understanding and adoption of new and emerging technologies in fintech through industry-led innovation challenges, skills and education programmes, workshops, roundtables, conferences, and trade missions.
Techscaler has forged multiple partnerships across and beyond the Scottish tech ecosystem since it has been operational, including with the Chief Scientist Office’s NHS Innovation Hubs, govtech funding challenge programme CivTech, and STAC, the Internet of Things accelerator.
Lloyds Banking Group’s “Launch 2024” Innovation Call Is Live
We’re thrilled to announce the fourth edition of Lloyds Banking Group’s innovation programme, “Launch 2024.” This initiative is opened for application for fintech innovators across the globe.
What Makes Launch 2024 Unique?
“Launch 2024” is not just another innovation call; it’s a 5-month collaborative journey designed to accelerate fintech solutions. This programme offers access to subject matter experts and business masterclasses, enabling rapid experimentation and development.
Participants will gain the opportunity to work closely with Lloyds Banking Group’s subject matter experts, refining and testing their propositions. At the end of this programme, fintechs will pitch their solutions to challenge sponsors and senior leaders, potentially leading to a proof of concept partnership.
Who Can Apply?
Lloyds Banking Group are calling on ambitious companies and individuals looking to tackle one of their five strategic challenges. Startups or more established companies are welcomed if their vision aligns with this year’s challenges.
In line with Lloyds Banking Group’s commitment to diversity and inclusion, they especially encourage applications from women-led teams and businesses founded by individuals of Black, Asian, and Minority Ethnic heritage.
Launch 2024 Challenges
- Helping customers through their life moments
- Helping Customers with their everyday lives
- Optimising customer experience across channels
- Leveraging technology to enhance internal risks and controls
- Increase customer understanding of their finances through gamification
How to apply?
This is a great opportunity for fintechs looking to make an impact, be recognised as a leader in fintech innovation, and potentially collaborate with one of the UK’s leading banking groups.
17 fintechs selected for the Financial Regulation Innovation Lab’s first innovation call
The Financial Regulation Innovation Lab, in collaboration with the University of Strathclyde and The University of Glasgow, has selected the firms that will take part in its first innovation call centred around “Simplifying Compliance through AI and Emerging Technologies,”. This call aims to showcase how technology can meet UK and global regulatory requirements, potentially setting a new benchmark for future advancements in the industry.
The mission
This initiative will not only look at advancing innovation but also at highlighting the significant role of artificial intelligence and emerging technologies in simplifying and enhancing compliance processes within the financial sector. By bringing together academia and some of the UK’s leading financial institutions, such as Morgan Stanley, Tesco Bank, Virgin Money, abrdn, and Deloitte, the programme will offer unparalleled mentorship, insights, and real-world case studies to the participants.
The selected fintechs
17 companies have been meticulously selected to participate in this programme. These companies, established in the UK, Canada, and Singapore, represent the cutting edge of fintech innovation:
Aifluent
Amiqus
Argus Pro LLP
AsiaVerify
Auquan
Change Gap Ltd
Datawhisper
DX Compliance
Fairly AI
Financial Crime Intelligence
First Derivative
HAELO
International Data Flows
Legal-Pythia
Level E Research
Talan UK
Pytilia
Next steps
These selected fintech companies will gather in Glasgow on the 12th of March, where they will delve into use cases presented by the supporting financial institutions. This gathering will not only provide them with a unique opportunity to learn directly from leading experts in the field but also to hear about the latest developments in AI from university scholars. The discussion will span best practices for maximising the benefits of innovation calls and strategies for scaling businesses for success
The collaboration between these fintech innovators, academia, and some of the largest financial institutions in the UK will not only demonstrate the potential of AI and emerging technologies to revolutionise regulatory compliance but also help inform the future of financial innovation.
The FRIL project is funded by the Glasgow City Region Innovation Accelerator programme. Led by Innovate UK on behalf of UK Research and Innovation, the pilot Innovation Accelerator programme is investing £100m in 26 transformative R&D projects to accelerate the growth of three high-potential innovation clusters ”“ Glasgow City Region, Greater Manchester and West Midlands. Supporting the UK Government’s levelling-up agenda, this is a new model of R&D decision making that empowers local leaders to harness innovation in support of regional economic growth and help attract private R&D investment and develop future technologies.
Announcing a new Digital Transformation micro-credential
The Financial Regulation Innovation Lab (FRIL) introduces a new opportunity for professionals to stay ahead in the rapidly evolving finance sector. Powered by the University of Strathclyde, this first micro-credential, “Digital Transformation, focuses on risk and compliance. FRIL aims to pioneer a path for industry practitioners towards mastering digital transformation strategies that cater specifically to the nuances of risk and compliance in finance.
Empowering Through Education
The digital transformation course is designed to arm participants with theoretical knowledge and practical insights into how technological advancements, especially artificial intelligence (AI), are revolutionising risk management and compliance practices. Over six weeks, this course offers a unique blend of self-directed online learning and an immersive one-day on-campus session, providing a comprehensive understanding of digital strategies that can significantly enhance regulatory and compliance processes.
Course Objectives
Participants will explore digital transformation, exploring its implications for the finance industry with a keen focus on risk and compliance. The curriculum is tailored to:
- Highlight the current and potential impacts of digital technologies on the finance sector.
- Equip professionals with the knowledge to harness these technologies for improving compliance efficiency and risk mitigation.
- Foster a strategic mindset, enabling participants to devise and implement digital transformation initiatives within their organisations.
A Unique Learning Experience
The course is structured to cater to the busy schedules of finance professionals, combining the flexibility of online learning with the depth of in-person engagement. Through this dual approach, learners can explore digital transformation concepts at their own pace, followed by a day of intensive, hands-on learning on campus. This format is designed to reinforce online learning outcomes, encourage networking among peers, and facilitate direct interaction with leading experts in digital finance transformation.
Secure Your Place
With a limited number of fully funded places available, FRIL encourages interested individuals to express their interest at the earliest convenience.
For further information, visit Digital Transformation or contact The University of Strathclyde’s skills team today at sbs-upskilling@strath.ac.uk.
Photo by Pixabay: https://www.pexels.com/photo/low-angle-view-of-lighting-equipment-on-shelf-257904/
Sarah Kocianski Announced As New CEO for FinTech Wales
Sarah Kocianski is set to become the Chief Executive Officer of FinTech Wales starting 1 March 2024, marking a significant chapter in the narrative of the independent membership organisation dedicated to fostering the fintech and financial services sectors in Wales. With a rich history of over ten years in the fintech and insurtech arenas, Kocianski brings a wealth of experience from her engagements with global firms and startups spanning the financial spectrum, including eminent banks, insurers, healthtech companies, and retail businesses.
Her journey also encompasses contributions to several fintech associations such as Qorus, and her role on the committee of WVC:E, focusing on promoting equity within the venture capital space to the advantage of both investors and entrepreneurs. Before assuming her new role, Kocianski used her strategic insight at Founders Factory, aiding financial service partners like Aviva in finessing their fintech investment approaches, and led the Competitor Strategy at 11:FS, a pioneering consultancy providing benchmarking, research, and advisory services globally to a diverse clientele including banks, insurance companies, government bodies, regulatory agencies, and startups.
Upon her appointment, Kocianski expressed her enthusiasm for leading FinTech Wales, emphasising her intent to leverage her extensive background to bolster the fintech ecosystem in Wales. She highlighted the challenges of establishing and scaling a fintech venture, especially in securing funding and crafting investment strategies, and voiced her eagerness to augment the already vibrant Welsh fintech scene, known for its innovation and talent. Kocianski’s vision is to elevate Wales’ status as a fintech hub of international repute, driven by the region’s abundant resources, and the inherent drive and passion of its fintech community.
Sarah Williams-Gardener, who passes on the CEO mantle to become the new Chair of FinTech Wales, praised Kocianski’s appointment, citing her deep-seated industry knowledge and commitment to fintech as pivotal to the organisation’s future success. Williams-Gardener’s endorsement underscores a seamless transition aimed at further nurturing and expanding the Welsh fintech ecosystem.
Since its inception in April 2019, FinTech Wales has been instrumental in providing support to its member network, advocating on their behalf to key political and financial influencers, and striving to create a fertile environment that not only retains existing fintech entities but also attracts new ventures to Wales. The organisation’s mission to establish Wales as a centre of fintech excellence is underpinned by a strategic four-year plan focusing on enhancing skills and talent, fostering community and ecosystem development, amplifying funding and investment opportunities, and promoting Wales as an ideal location for fintech and financial organisations.
This mission received a significant boost with a five-year, £1.6 million investment from Cardiff Capital Region (CCR) in June 2022, reinforcing a collaborative effort to position Wales at the forefront of the UK’s fintech sector. For further details about FinTech Wales and its initiatives, visit their website at www.fintechwales.org.
Scottish Friendly and FinTech Scotland join forces to help boost innovation in the financial mutual sector
Leading financial mutual Scottish Friendly has announced a strategic partnership with FinTech Scotland, highlighting the growing significance of further developing and improving fintech innovation across all financial services sectors, including life, savings, and investments.
By joining forces with FinTech Scotland, Scottish Friendly positions itself at the forefront of the fintech revolution, signalling a commitment to innovation and customer-centric financial solutions.
The partnership will provide Scottish Friendly with deep insights into cutting-edge fintech areas such as open finance data and regulatory technology (regtech), which are crucial for the evolution of savings and investment strategies.
Scottish Friendly will actively participate in FinTech Scotland’s research and innovation roadmap, contributing to the shaping of the industry’s future. Their involvement is aimed at streamlining the life, savings and investment process, leveraging technology to make it as effortless and accessible as possible for consumers.
Alexander Manas, Commercial Director at Scottish Friendly, said:
“We are dedicated to helping individuals and their families achieve the best possible financial outcomes through affordable, high-quality products and exceptional customer service. We are therefore delighted to partner with FinTech Scotland in our efforts to continuously deliver better outcomes for our customers through technology and innovation.”
Nicola Anderson, CEO at FinTech Scotland said:
“We are delighted to welcome Scottish Friendly to the FinTech Scotland cluster to embrace fintech innovation through strategic partnership. This partnership is a testament to our inclusive approach, aiming to revolutionise financial services by leveraging collective expertise. Scottish Friendly’s objectives align perfectly with our mission to drive impactful changes in the sector.”
Leadership Transition at Alba Bank
Scottish fintech Alba Bank, headquartered in Glasgow, announced an important change in its leadership with Rod Ashley stepping down. This marks the beginning of a new chapter for Alba Bank, an company that has grown and evolved significantly under Ashley’s stewardship.
Welcoming New Leadership
Stepping into the role of acting CEO is Jonathan Thompson, who brings a wealth of experience from the start-up and SME banking sectors. Thompson’s appointment signals Alba Bank’s continued commitment to innovation and growth, particularly in areas critical to the future of banking. His expertise and vision are expected to lead Alba Bank through its forthcoming critical phase, steering the institution towards new opportunities and challenges.
Joining Thompson in leading the bank into its new era is Dominic Wade, the newly appointed Chief Financial Officer. Wade, who transitions from Unity Trust Bank where he served in the same capacity, brings a deep understanding of the financial intricacies facing today’s banks. His experience and strategic insight will undoubtedly be invaluable as Alba Bank continues to evolve and adapt in a rapidly changing financial environment.
Forward Momentum
Rod Ashley said: ”
“I have enjoyed every moment of leading Alba from the early days but now is the right time to step aside”
His sentiments were echoed by Alba’s Chair, Robert Sharpe, who thanked Ashley for his years of dedicated service and wished him the best in his future endeavors.
Jonathan Thompson, the acting CEO, expressed his enthusiasm for the challenges ahead, stating,
“I am delighted to take the reins at Alba and lead the bank through this next critical phase.”
Join Etive and be part of the Fintech Revolution in Scotland
Scottish fintech Etive, is developing a digital identity trust scheme, MyIdentity. With the UK’s digital identity legislation on the horizon, set to take effect in the spring of 2024, Etive’s mission couldn’t be timelier or more vital and there is an exciting opportunity for those looking to come on board.
Etive’s Visionary Mission
Since 2018, Etive has been dedicated to mitigating the friction involved in identity verification within the residential property market. This initiative, spanning new home builders, estate agents, lawyers, financial brokers, and mortgage lenders, is on the cusp of going live. MyIdentity represents a groundbreaking identity trust scheme that ensures identity verification is completed to a trusted set of standards, rules, and regulations, aligned with the Government’s Digital Identity & Attributes Trust Framework (DIATF).
With two core online products under the Etive brand ”“ the Property Log Book® and Digital Log Book® ”“ and the flagship MyIdentity® proposition in development, the company is at an exciting growth phase. These products are not just about technology; they’re about creating a secure, efficient future for identity verification in the UK.
The Role: Application & Innovation Manager
Etive is recruiting an Application & Innovation Manager. This key position is responsible for leading the information technology activities at Etive, ensuring the effective delivery of IT systems, services, and support. From strategic planning and project management to leadership and collaboration with internal and external stakeholders, this role is about driving technology initiatives forward.
The ideal candidate? A technical visionary with hands-on experience in application architecture and design, who can engage at both a strategic and detailed level. This role demands a dynamic individual who can work closely with the Product Owner and Operations Director to bring Etive’s products to market and support their ongoing development and operation.
Your Impact
As the Application & Innovation Manager, you will:
- Manage product and service application and infrastructure development throughout their lifecycle.
- Develop and implement IT security policies and procedures.
- Manage relationships with development and infrastructure outsourced partners.
- Own and develop the application and infrastructure strategic roadmap.
This position is not just a job; it’s a chance to be a pivotal member of the management team, directly influencing a growing product and business, and potentially progressing rapidly into a CTO position.
Join Etive
If interested please contact Stuart Young at s.young@etive.org
FinTech Scotland Deepens Collaboration with Leading Global Financial Firms for Inaugural Innovation Challenge
Applications Open for AI Compliance Innovation to Discover Fintech Partners
Today, FinTech Scotland, working with professional services supporter Deloitte, and with Tesco Bank, Morgan Stanley and abrdn, launched a first-of-its-kind innovation challenge. The industry-led call to action will encourage financial institutions and innovators from across the Fintech community and beyond to learn collaboratively and facilitate industry forums to collectively share best practices for companies to develop new solutions to key financial regulatory challenges.
The inaugural innovation challenge, spearheaded by the newly established Financial Regulation Innovation Lab (FRIL), and funded through the UK Governments’ Innovation Accelerator programme, delivered by Innovate UK, focuses on ‘Simplifying Compliance through the Application of AI and Emerging Technologies’.
The first in a series of industry-led innovation calls, the initiative is dedicated to fostering confidence in the adoption of emerging technologies into financial services. Notably, this call aims to demonstrate the ability technology could have in meeting global regulatory requirements, setting a new standard for future advancements in the industry.
FinTech Scotland and the financial services firms, in conjunction with professional services leader Deloitte, are inviting entrepreneurs and innovators to identify and use technologies to address industry compliance challenges. Launched under the principle of responsible innovation, these calls set the stage for exploration and development of effective solutions that will yield positive outcomes for the pressing needs of consumers and businesses alike, resulting in an overall economic contribution.
Nicola Anderson, CEO of FinTech Scotland, said:
“We are extremely excited to kick off this inaugural industry innovation challenge. Demand-led innovation calls are an important part of the toolkit that the Financial Regulation Innovation Lab will employ to drive positive outcomes. It is also an opportunity to bring together financial institutions and innovators, enabling financial institutions to learn collaboratively about ways to improve compliance processes to drive efficiency for the sector and, ultimately, increase consumer protection.”
In partnership with the University of Strathclyde and the University of Glasgow, the Lab aims to leverage expertise in financial services risk and compliance and combine this with emerging technologies to build capabilities that maintain and grow both Scotland and the UK’s position as a global leader in financial services regulatory innovation.
Kent Mackenzie, Fintech Lead for Scotland at Deloitte said:
“Deloitte is excited to be one of the challenge supporters of the Financial Regulation Innovation Lab’s first innovation call. Simplifying compliance is critical to delivering change in financial services, and industry-wide solutions can help enable us to accelerate this positive change. The Lab provides a unique environment to support collaboration, and this groundbreaking initiative will further support how financial services firms are innovating to meet their regulatory obligations.”
Joanne Seagrave, Head of Regulatory Affairs at Tesco Bank:
“At Tesco Bank we embrace the opportunity that the Financial Regulation Innovation Lab’s innovation call series offers to collaborate with innovators. This will allow us to gain further insight on how utilising AI and emerging technologies could help support us in managing the evolving regulatory change landscape. It also presents a significant opportunity to advance industry understanding.”
Angela Benson, Head of Glasgow Finance at Morgan Stanley:
“Morgan Stanley recognises the opportunity in employing AI and emerging technologies to address the industry’s global regulatory obligations. We are delighted to partner with FinTech Scotland on this innovation challenge to foster ideation and support the next generation of innovators in this space. Having opened our office in Glasgow over 20 years ago, we have seen first-hand the depth of talent Scotland has to offer.”
Gareth Murphy, Chief Risk Officer at abrdn:
“At abrdn, we’re delighted to join the Financial Regulation Innovation Lab’s inaugural innovation call to action. It is essential that we continue to evolve the mix of people, process and technology in all of our activities. We draw on extensive experience in financial services, in Scotland and globally. This collaboration is a testament to our commitment to seizing the ongoing opportunities that financial services and innovation present.”
The programme includes three phases: challenge definition, solution design & testing, and final demonstrations. Applicants will receive invaluable insights about financial firms through close collaboration, a support network, academic expertise and service design support. Successful companies will receive grant awards up to £50,000 for further development and implementation.
Fintechs and other teams of innovators are invited to join the challenge. The application window is open from 1stFebruary. To find out more click here
The Innovation Challenge Call finale event will take place in April 2024.
The FRIL project is funded by the Glasgow City Region Innovation Accelerator programme.
Led by Innovate UK on behalf of UK Research and Innovation, the pilot Innovation Accelerator programme is investing £100m in 26 transformative R&D projects to accelerate the growth of three high-potential innovation clusters ”“ Glasgow City Region, Greater Manchester and West Midlands. Supporting the UK Government’s levelling-up agenda, this is a new model of R&D decision making that empowers local leaders to harness innovation in support of regional economic growth and help attract private R&D investment and develop future technologies.
Glasgow has a remarkable history rooted in industry and innovation and is home to world-leading science and technology expertise. The Innovation Accelerator programme will support the Region’s key economic aims of increasing productivity, delivering inclusive growth and achieving net zero.