Zumo Unveils the Future of Digital Assets at Sibos 2023
Scottish fintech Zumo is at Sibos 2023 in Toronto to unveil a groundbreaking report that’s set to reshape the landscape of digital assets. Titled “Digital Assets 2023: Identifying Opportunities Across the Enterprise Landscape,” this report marks a significant milestone in the journey towards understanding and harnessing the potential of digital assets from an enterprise perspective.
A Pioneering Approach
“Digital Assets 2023” is not just another report; it’s a comprehensive survey, categorisation, and practical analysis of emerging opportunities within the global digital asset ecosystem. It is a deep dive into this nascent sector to uncover the possibilities it offers to businesses worldwide.
The report is backed by fresh insights from some of the biggest names in the digital asset and financial services industries. Collaborators include financial companies like HSBC, NatWest, and Visa, as well as blockchain innovators such as Ripple and Chainalysis. Notably, industry cooperative Swift, the organiser of Sibos, has also played a pivotal role by engaging its global community to explore how financial institutions can seamlessly integrate with the evolving blockchain networks.
A Glimpse into the Future
“Digital Assets 2023” serves as a roadmap for the evolution of blockchain technology from an enterprise perspective. It identifies four pivotal turning points that illustrate the progressive expansion of digital asset applications and participants, starting from the Bitcoin “big bang” moment (often referred to as ‘blockchain 1.0’) and culminating in the current ‘enterprise’ era (‘blockchain 4.0’).
To provide a clear understanding of the digital asset landscape, Zumo has created an enterprise ecosystem map that differentiates between consumer and institutionally-facing solutions, as well as investment versus applied use cases. The report then delves into the opportunities, challenges, and inter-relationships associated with nine specific use cases, categorised as early (institutional digital asset investment, institutional DeFi, web3), developing (tokenization, blockchain in industry, DLT for financial market infrastructure), and established (consumer-facing cryptoasset investment, and individual/business blockchain payments).
Insights from the Author
Daniel Taylor, Zumo’s Research and Policy Lead, and the mastermind behind this report, shared his thoughts on its significance:
“Active learning and knowledge development are integral to Zumo’s mission as a trusted partner for those venturing into the digital asset space. Today marks the dawn of the ‘enterprise’ era, where non-crypto businesses are actively engaging in all four quadrants of digital asset opportunity: consumer, institutional, application, and investment. Our report distills and synthesises these emerging opportunities, providing a comprehensive view of the digital asset and blockchain ecosystem.”
Download Your Copy
Explore the future of digital assets by downloading a complimentary copy of “Digital Assets 2023” at https://zumo.tech/digital-assets-2023/.
Bupa everywoman in Technology Awards are open for nominations
The annual everywoman in Technology Awards, celebrating the most inspirational women working in Science, Technology, Engineering and Mathematics (STEM), are open for nominations for 2024 and have announced their new title partner, Bupa Global & UK. Companies and individuals are invited to put forward candidates until 9th October 2023 for categories recognising all stages of the career journey, from apprentices to C-Suite.
Now in their 14th year, the awards shine a spotlight on and celebrate the tech industry’s most exceptional talent, from the UK and beyond, creating role models to inspire and attract women and young girls into STEM careers and close the gender gap within technology.
As an innovative industry, new sectors and specialisms and therefore career opportunities continue to increase. The UK tech market has been valued at $1trillion making it the third most valuable in the world, confirmation that growth is not slowing. Despite this, women currently only occupy 24% of roles in the technology industry and recent research suggests that almost half experience burnout, with 7% adding that they have felt pushed to their physical and mental limits.
The new partnership between everywoman and Bupa reflects the tech industry’s responsibility to attract and retain female tech talent, ensuring that women are fully supported to fulfil their career ambitions in order to support growth.
Maxine Benson MBE, Co-Founder of everywoman comments:
“Since 1999, everywoman has been working to advance women in business and help organisations to achieve their gender goals via our awards programmes, learning and development content, and our training that’s been delivered to over 200,000 women. With 40% of our learning and development content having a wellbeing related theme we recognise that work, family, and health responsibilities are intrinsically linked so are very excited to be partnering with Bupa. We look forward to unveiling this year’s role models at the March awards ceremony with our programme sponsors, including SSE, Accenture, BAE Systems, Howden Group Holdings Ltd, American Express, Centrica PLC, Computacenter, Discover and RS Group.”
Nimisha Patel, Chief Digital & Information Officer at Bupa Global & UK comments:
“We are delighted to be the title partner of the everywoman in Technology Awards. Technology is key to delivering the best healthcare solutions for our customers, it underpins innovation, helps people to be proactive with their health and supports us in being more sustainable.
We want to support everyone to live longer, healthier, and happier lives, and we understand the challenges that women in the workplace can face. Partnering with everywoman will help women to continue making the impact they already are, and to become the brave, caring, and responsible leaders of the future. Not just for tech but for business.”
For 2024, a new category will be introduced to reflect the ever-changing landscape of the industry. The AI Award will be awarded to a woman who is excelling in her role and making a tangible difference to her business in the field of artificial intelligence.
The 2024 Bupa everywoman in Technology Awards are free to enter and all the categories can be found here. The awards ceremony and dinner will take place at The Park Plaza in London on 14 March 2024, after the annual everywoman in Technology Forum.
For more information visit www.everywoman.com/techawards
@everywomanUK #ewTechAwards
For more information contact Francesca Stainer, PR Manager, francesca@everywoman.com
New opportunity to join Scotland’s thriving fintech cluster
The University of Strathclyde has just published a new job opportunity and is on the look-out for a High Growth Advisor who will be working very closely with FinTech Scotland.
The successful candidate will play a key role in supporting the development of the Financial Regulation Innovation Lab which is launching later this year. They will collaborate closely with the University’s Industry Engagement and Innovation Directorate, the University’s FinTech Cluster Lead, and Fintech Scotland’s Strategic Innovation Director, Trish Quinn whose appointment was announced recently.
The Financial Regulation Innovation Lab builds upon the UK Fintech Research & Innovation Roadmapunveiled last year. The roadmap highlighted the potential for further research and innovation in financial regulation. Aligned with the UK Government Science and Technology Framework published in March 2023, the Lab aims to position the UK at the forefront of global science and technology.
The Lab will create a unique environment where fintech entrepreneurs, established UK and global financial services firms, technology enterprises, regulators, universities, and third-sector organisations come together to drive financial innovation, addressing opportunities and challenges in financial regulation.
Key responsibilities for this role include facilitating the Innovation Call series for the Lab, which comprises demand-led challenges set by industry.
Additionally, the role will involve developing essential partnerships between the University of Strathclyde, FinTech Scotland, and the University of Glasgow, to create more collaboration opportunities in the Scottish and UK fintech clusters.
The ideal candidate for the role should have extensive leadership experience gained from transforming leading financial sector companies digitally. They will be instrumental in shaping the Lab’s interactions with diverse stakeholders, developing effective networks, sector relationships, and multi-party collaborations through their strong negotiation skills, business acumen, and strategic vision.
Interviews for this exciting opportunity are scheduled for October 2, 2023.
To apply visit this page
For more information or informal inquiries, please contact Catherine Breslin, Head of Industry Engagement & Commercialisation, at catherine.breslin@strath.ac.uk.
FinTech Scotland appoints senior leader to accelerate plans for the Financial Regulation Innovation Lab
FinTech Scotland has announced today the appointment of a new senior leader, Trish Quinn, who joins as Strategic Innovation Director. Trish will be leading the development of the Financial Regulation Innovation Lab (FRIL) which is due to launch later on this year.
The Financial Regulation Innovation Lab (FRIL) is one of the recommendations laid out in the UK Fintech research & Innovation Roadmap published in March 2022. It is set to be a new collaborative centre of excellence for cutting-edge fintech developments in financial regulation. The Lab will explore solutions that aim to streamline regulatory processes, enhance compliance measures, and drive efficiencies across the financial sector.
FinTech Scotland, in partnership with industry partners, and with the University of Strathclyde and the University of Glasgow, will stand up the launch the Lab and drive progress this year. This industry-led initiative showcases the power of the Fintech Scotland Cluster to drive innovation. This project is funded by the Glasgow City Region Innovation Accelerator programme, led by Innovate UK on behalf of UK Research and Innovation. This financial support from the UK Government continues to endorse the opportunity from the emerging fintech sector to support growth across the UK economy.
As the newly appointed Innovation Director, Quinn will be responsible for leading the Lab and working with partners across Scotland and in the UK, in delivering a programme that will enable efficiencies through technology to meet the needs of current and future financial regulation. Quinn brings a wealth of experience in digital transformation and digital product development to her new role, having previously served in a number of senior digital roles in both the UK and Scottish Government.
Commenting on her appointment, Trish Quinn said:
“I am delighted to join FinTech Scotland as the Innovation Director and lead the Financial Regulation Innovation Lab. The potential to reshape the financial industry through technology applied to financial regulation is significant, and I am excited to join the team at FinTech Scotland to drive innovation, foster collaboration, and contribute to the growth of the fintech sector.”
Nicola Anderson, CEO of FinTech Scotland, said:
“Trish brings extensive experience in digital transformation, leading strategic initiatives across her career with an emphasis on change through collaboration and partnerships. Her leadership and experience will help us accelerate the Lab’s development, creating the conditions needed for more fintech growth in Glasgow and the FinTech Scotland cluster.
David Hillier, Associate Principal and Executive Dean of the University of Strathclyde Business School said:
“We are excited to welcome Trish to lead this critical initiative. The University of Strathclyde has significant expertise to bring, and we’re looking forward to driving this initiative, working closely with our industry partners across the FinTech Scotland Cluster and our academic partners in the University of Glasgow to drive this opportunity for Glasgow City Region. The Lab creates the environment for high-potential innovation in a subject that’s fundamental to the success of our financial system”.
Eleanor Shaw, Head of the University of Glasgow Adam Smith Business School said:
“Trish will lead a ground-breaking initiative that’s a first for Scotland and the UK, and we are delighted to be working with her. It’s fantastic to see Glasgow City Region’s innovation capabilities and ambition come together to create what will become a key asset for Scotland and the UK in driving innovation in financial regulation. The University of Glasgow is looking forward to playing a leading role.”
Dr. Catherine Martin, Vice Principal Corporate Services, University of Edinburgh said:
“I’m very pleased to welcome Trish to FinTech Scotland and want to congratulate her on this appointment. The Financial Regulation Innovation Lab is an exciting new endeavour and we at Edinburgh are pleased to support this opportunity for Glasgow and for Scotland. As a founding member of FinTech Scotland it’s a pleasure to see the fintech opportunity continue to grow across Scotland and the UK”.
Revolutionising Access to Unlisted UK Equities: JP Jenkins and Winterflood Securities’ Game-Changing Collaboration
In a recent announcement, JP Jenkins and Winterflood Securities have revealed their gnew collaboration, set to reshape the landscape of unlisted UK equities trading.
This partnership will interest family offices, institutional wealth managers, sophisticated private investors, and their broker intermediaries, as it simplifies access to this traditionally complex asset class.
Alex Skrine, Director at Winterflood Securities, believes that this collaboration marks a pivotal moment in the world of unlisted stocks. He says,
“For too long, it has been too complicated for many intermediaries and their underlying investors to gain access to unlisted UK equities. As more and more companies are choosing to remain private for longer, reform here is long overdue, which is why we believe this collaboration can drive a step change in the popularity of unlisted stocks.”
The journey towards this collaboration began in early 2023 when JP Jenkins was acquired by InfinitX, a Scottish fintech that powers private marketplaces. By leveraging innovative technologies, InfinitX seamlessly integrates with JP Jenkins, facilitating the electronic routing of order flow onto their platform for execution and settlement.
Mike McCudden, CEO of InfinitX, highlights the significance of this announcement:
“Today’s news validates the strength of the technology we have built, enabling any private marketplace to connect using existing trading infrastructures. As we have seen with the JP Jenkins and Winterflood Securities integration, our solution allows venues to dramatically scale their distribution without counterparties needing to make any significant technology investment to gain access.”
One of the key advantages of this collaboration is its ability to leverage existing market infrastructure to place orders in unlisted securities and settle trades via CREST. This innovative approach significantly reduces the cost and complexity associated with transactions in this asset class.
The integration primarily harnesses Winterflood’s existing trading infrastructure and direct client distribution channels to route order flow through the InfinitX API. This seamless process ensures that executions are returned through the same efficient workflow.
Veronika Oswald, Commercial Director at JP Jenkins said:
“Investors are increasingly seeing unlisted assets as providing a valuable way to diversify a portfolio. This collaboration revolutionizes the ease of distribution for unlisted stocks.”
Strengthening Scotland’s Financial Services: SFE Announces Key Appointments
Scottish Financial Enterprise (SFE) has recently announced two new appointments. Ben Rose has stepped into the role of Director of Public Policy and Communications, while Christina Anthoulaki takes on the role of Programme Director. These strategic additions to the SFE team will help the organisation achieve its sector-wide strategic priorities.
Ben Rose: Policy Expert
Ben Rose brings an impressive track record of over 15 years in both the public and private sectors, making him a valuable asset to SFE. His most recent role as Senior Public Policy Manager at NatWest Group allowed him to amass a wealth of experience that he now brings to SFE. Moreover, Rose previously served as Chair of SFE’s Public Affairs and Communications forum from 2021 to 2023.
In his new capacity, Rose will take the reins of SFE’s policy development, government engagement, and broader stakeholder communication efforts.
Christina Anthoulaki: Nurturing Growth and Talent
Christina Anthoulaki steps into her role as Programme Director, a new position designed to oversee the coordination and delivery of key programs across SFE. Her mission is clear: to align these programs with Scotland’s Financial Services Strategy, which includes the pivotal delivery of the Skills Action Plan and the sector’s Growth Strategy.
Anthoulaki’s background is equally impressive. With a six-year tenure at NatWest Group in various technology and change management roles and subsequent experience as Finance Product lead at law firm Mishcon de Reya, she brings a wealth of knowledge and strategic acumen to her new role at SFE. Her prior work at Mishcon de Reya helped reshape the organization’s strategy towards a more efficient business model, highlighting her ability to drive transformation and growth.
Beyond these two key appointments, SFE is also fortifying its junior team with the permanent addition of Marketing Executive Harry Meighan and the appointment of Lana McGill on an Office Admin internship.
Sandy Begbie CBE FRSE, Chief Executive of Scottish Financial Enterprise, emphasises the importance of these appointments in the context of SFE. He states, ”
“As our membership continues to grow, we are adding new talent and expertise to help us oversee our increasingly ambitious agenda. Ben and Christina bring valuable capability across a range of specialisms that will add value to our membership and support our strategic priorities.
“I’m looking forward to working with Christina on developing our industry-wide growth strategy, and with Ben to further develop our strong relationships with both the Scottish and UK Governments and delivering our public policy agenda.”
Three Scottish Companies Join AG Elevate Mentoring Scheme
In a dynamic landscape where technology is reshaping industries at an unprecedented pace, leading international law firm Addleshaw Goddard has once again demonstrated its commitment to fostering innovation. The unveiling of the 2023 AG Elevate mentoring scheme is not just a celebration of entrepreneurial spirit, but a nod to the transformative power of AI and health tech.
Among the chosen, three Scottish companies have secured their spot, cementing their position in a diverse cohort that mirrors the global tech economy.
AG Elevate is a 10-month program meticulously designed to guide tech businesses through the labyrinth of legal challenges that arise as they scale-up. This year’s selection shows AI innovation across diverse sectors, with health tech also emerging as a prominent theme. The chosen businesses have a shared vision of high-growth, backed by external funding and ambitious plans to disrupt norms.
AI’s explosion
AI is no longer confined to the realm of science fiction; it’s an integral aspect of our present and future. This year’s AG Elevate cohort reflects this, with over a quarter of the selected businesses making AI central to their propositions. From generative AI startups like Syntonym, specialising in hyper-realistic synthetic face generation, to AI-driven language e-learning platforms like Cardemy, the diversity of AI applications is staggering. These innovations have the potential to redefine customer experiences, streamline processes, and revolutionise various industries.
Scotland’s Tech Capabilities
Scotland’s tech capabilities are well represented in this year’s cohort with the inclusion of three exceptional companies. Legado, an innovative data-as-a-service platform, is reshaping the client-business interaction paradigm. Vectofy, on the other hand, is easing spreadsheet comprehension with interactive 3D visualisations, reducing errors and saving valuable time. Zelim is bringing the world’s first remotely operated rescue vessel with advanced AI-enabled casualty detection to market.
The Path Forward
The selected businesses are not only gaining access to legal mentors and industry networks but are also becoming part of a supportive ecosystem that encourages cross-collaboration and shared insights. Bespoke support, legal documentation, seminars, and interactions with like-minded professionals all contribute to a comprehensive growth experience. As these 15 innovative ventures embark on their 10-month journey, they are primed to elevate not only their own businesses but also contribute to the wider narrative of technological advancement.
DirectID and LendInvest to Streamline Credit Decisions
A new partnership between Scottish fintechs DirectID and LendInvest is set to reshape the landscape of property finance. The two companies have teamed up to introduce a new era of streamlined credit decisions. The fusion of cutting-edge technology from DirectID and the visionary approach of LendInvest will bring unprecedented efficiency and effectiveness to the way credit decisions are made in property finance.
Gone are the days of cumbersome, time-consuming credit assessments that often slows down property financing. With DirectID and LendInvest a transformation is underway. This collaboration promises to not only expedite the credit decision process but also enhance its accuracy and reliability.
DirectID’s Technology
At the core of this collaboration lies DirectID’s state-of-the-art technology, which harnesses the power of data to provide deep insights into an applicant’s financial profile. Through advanced data analytics, DirectID paints a comprehensive picture of an individual’s financial behavior, offering lenders a holistic view that extends beyond traditional credit scoring. This multifaceted perspective enables lenders to make more informed decisions, minimizing risks while opening doors for potential borrowers.
LendInvest’s Visionary Approach
Complementing DirectID’s technological prowess is LendInvest’s forward-thinking approach to property finance. Known for their innovation and agility, LendInvest has consistently sought ways to challenge the status quo and simplify processes within the industry. This collaboration aligns seamlessly with LendInvest’s commitment to providing a seamless borrowing experience. By incorporating DirectID’s insights, LendInvest aims to further enhance their ability to cater to the unique needs of borrowers in the property finance market.
A Symbiotic Partnership
The synergy between DirectID and LendInvest is undeniable. Both entities share a common goal: to make property finance more accessible, efficient, and secure. By leveraging DirectID’s cutting-edge technology, LendInvest can fast track their credit evaluation process while maintaining the highest standards of risk assessment. Borrowers can look forward to a smoother journey, marked by quicker decisions and a higher level of transparency.
Smardaten Runner Up to KPMG Tech Innovator China final
Smardaten was named Second Runner Up in the KPMG Private Enterprise Global Tech Innovator China final for 2023.
This marks the second major international Tech Award received by Smardaten in just three months, coming right after the Technology Pioneer 2023 award presented by the World Economic Forum.
These consecutive accolades highlight the contributions of Smardaten in the field of disruptive and transformative technology. The efforts of Smardaten have resulted in tangible outcomes, notably in significantly shortening the lead time for coding-based software development from the traditional 1-2 year span to 3-6 weeks.
This not only leads to a substantial reduction in carbon emissions but also addresses the challenge of data silos, creating an integrated and powerful ecosystem of data and applications.
Both the World Economic Forum and KPMG Private Enterprise acknowledge the profound value that Smardaten’s innovations bring to the tech landscape.
Scottish Fintech KNOW-IT part of UK Trade Mission To Australia
In the ever-evolving landscape of financial technology, a Scottish fintech company is set to make waves on the global stage. Know-it, led by Founder and CEO, Lynne Darcey Quigley, is gearing up to participate in the 2023 UK Fintech Trade Mission, where it will take its innovative platform to Australia’s Intersekt Festival.
Unveiling the Potential of UK Fintech in Australia
The primary aim of this exciting endeavor is to showcase the prowess of UK fintech on the international front, specifically in Australia. As Australia’s needs for digital and automated financial services continues to surge, Know-it is poised to address this demand head-on. The decision to launch its platform in Australia stems from the country’s burgeoning fintech market and the strategic backdrop of the trade mission.
A Perfect Match: Know-it Goes Global
With plans to unveil its platform Down Under in the first quarter of 2024, Know-it is on the cusp of a transformative journey. The Australian market provides an ideal launchpad for this expansion, considering the country’s receptiveness to fintech innovation. The Intersekt Festival, a gathering of Australia’s finest fintech minds and industry leaders, offers the perfect setting to not only introduce the platform but also tap into Australia’s burgeoning fintech talent pool.
Intersekt Festival 2023: A Confluence of Innovation
At the heart of this venture is the Intersekt Festival which draws together thought leaders and collaborative minds from the Australian fintech ecosystem and beyond. The 2023 edition promises international guest speakers, insightful roundtables, and networking sessions aimed at fostering collaboration and sparking innovation.
Lynne Darcey Quigley, the driving force behind Know-it, expressed her enthusiasm, stating,
“Here at Know-it, our long-term goal is to take our offering global and help organisations worldwide wake up to why automating the credit control process is vital to not only business survival, but success too. Having this opportunity would not have been possible without our partners at Fintech Scotland and Scottish Enterprise; providing the necessary support startups like ourselves require to be a part of crucial events such as Intersekt conference.”
Addressing a Global Need: Fintech for Business Success
The motivation behind Know-it’s expansion isn’t confined to national borders. Lynne Darcey Quigley emphasises that the challenges of late payment culture and outdated credit control processes aren’t unique to the UK. Australian businesses are now presented with the opportunity to improve their financial processes through Know-it’s automated credit control solution, aligning with established platforms like Xero and MYOB.
A Journey Beyond Borders
The Intersekt Festival will take place in Melbourne from August 30th to 31st, with an optional extension in Auckland, New Zealand, from September 4th to 5th. Know-it is poised to participate in both segments, showcasing their commitment to global growth.
Lynne affirms:
“Making the journey to Australia and exporting UK fintech offerings is the next big step in our journey towards going global. We want to show Australian business owners and Accountants ”“ particularly SMEs ”“ how fintech can help protect business continuity during the turbulent economic conditions currently threatening organisations on a global scale.
“The purpose of this trip for Know-it is to not just demonstrate what we can offer, but to settle and begin building our brand down under. Our team are excited to begin partnering with local businesses to help them increase their cash flow by combatting late payments, reducing debtor days and automating their entire credit control process.”
Pioneering Collaboration for Global Fintech Expansion
Nicola Anderson, CEO of Fintech Scotland, commended Know-it’s journey, stating:
“It is fantastic to see Know-it embark on the 2023 UK Fintech Trade Mission to Australia’s Intersekt Festival. This is a great opportunity to showcase the platform as part of this mission and it recognises the excellent work everyone at Know-it has put in under the leadership of Lynne Darcey Quigley. International growth is the next step for scaling-up fintechs and Australia is a great choice, taking advantage of the UK-Australia fintech bridge which align regulations in both countries. We’re looking forward to witnessing the launch of the Know-it platform in Australia in 2024 and hope it will serve as a model for many other Scottish fintechs.”
Anticipating the Future: Know-it’s Role in the Fintech Landscape
Before Intersekt, Know-it is set to participate in Xerocon Australia, scheduled for August 23rd to 24th in Sydney. This event will offer a sneak peek into Australia’s fintech and accountancy landscape. Following their presence at Xerocon London in 2022, Know-it is well-poised to demonstrate its value to Australian Xero users.
Know-it’s journey signifies more than just a trade mission ”“ it’s a transformative step towards redefining fintech’s role in global business operations. With the right combination of innovation, collaboration, and determination, Know-it will make a lasting impact on the international fintech stage.