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Accelerator programme to find the next Amiqus

Law firm Addleshaw Goddard has commenced its quest to discover exceptional high-growth tech enterprises to join its AG Elevate program. This program acts as an accelerator, specifically designed to facilitate the expansion of businesses in the technology sector.

AG Elevate, a rapid 10-month program, aims to propel tech enterprises from various industries forward by addressing the legal challenges that commonly arise during their growth phase.

Since its establishment in 2017, the program has successfully nurtured nearly 50 high-growth businesses. Among the select few invited to join AG Elevate in 2019 was Scottish fintech Amiqus that has since flourished tremendously. In fact, Amiqus now provides its innovative solution to Addleshaw Goddard.

Amiqus is a leading compliance platform that assists businesses in digitally managing the onboarding and compliance processes for both new clients and staff. As one of the United Kingdom’s fastest-growing fintech companies, Amiqus was conceived when its CEO and founder, Callum Murray, recognised a significant market gap. He sought to provide a solution to the complex, time-consuming, and expensive compliance challenges faced by businesses across various sectors.

Today, Amiqus excels at helping regulated businesses and organisations, including law firms, overcome practical obstacles in compliance and digital onboarding of new clients and staff.

Entrepreneurs understand all too well that the journey from a groundbreaking idea to building a successful, sustainable business is riddled with difficulties and rarely follows a linear trajectory. For Amiqus, specialising in the legal sector, the opportunity to participate in AG Elevate arrived at the ideal stage of their growth journey.

Amiqus applied for a place in the program and was chosen by an impartial panel to be part of the 2019 cohort. This stroke of fortune allowed Amiqus’ product to gain invaluable insights into the workings of an international law firm.

As part of the cohort, Amiqus was paired with a legal mentor and provided with a comprehensive package of legal support. Successful applicants also gain access to professional industry networks, tailored resources developed by AG, and opportunities to forge connections with like-minded individuals and businesses in the tech ecosystem.

This transformative experience began in June 2019. Since then, Amiqus has witnessed a doubling of its annual turnover and an expanded client base, which now includes some of the foremost organisations and professional services firms in the country. Additionally, Callum has recently been nominated as a regional finalist for EY’s Entrepreneur of the Year award.

Callum Murray, CEO of Amiqus, expressed his gratitude for the Elevate program, stating,

“The Elevate program not only provided us with invaluable support and insights but also connected us with a fantastic peer cohort of high-growth companies from across the UK. It’s truly the icing on the cake to come full circle and now support Addleshaw Goddard with our software, particularly in the field of law and technology.”

Dave Anderson, co-lead of the AG Elevate program and Addleshaw Goddard Partner who served as a mentor to Amiqus during the accelerator, commented,

“It’s wonderful to witness another success story emerging from the program, and notably, the first where AG has become a client. Callum and his team have thrived, and it’s fantastic to see AG Elevate playing a small role in their journey. Our team of legal mentors possesses a comprehensive understanding of the priorities and potential obstacles faced by rapidly growing tech businesses, offering AG Elevate members significant benefits beyond legal expertise.”

Photo by Bakr Magrabi: https://www.pexels.com/photo/compass-on-hand-3203659/

Amiqus to run Edinburgh Marathon for Scottish Refugee Council

Scottish fintech Amiqus, a prominent provider of compliance and onboarding services in the UK, is eagerly preparing to participate in the upcoming Edinburgh Marathon Festival. Their participation aims to raise funds for the Scottish Refugee Council (SRC), an organisation dedicated to providing practical assistance and guidance to refugees and asylum seekers in Scotland, particularly those who are financially and socially vulnerable.

During the Edinburgh Marathon Festival on May 27th and 28th, the dedicated members of the Amiqus team will collectively cover a distance of over 147 miles through their running efforts. In addition to their physical contributions, the company has pledged to match the funds raised, ensuring a substantial donation to the Scottish Refugee Council.

Amiqus is reaching out to individuals and organisations, urging them to contribute to their fundraising campaign and support the vital work of the SRC. Together with the SRC, Amiqus endeavors to make a meaningful impact on the lives of those who seek refuge and strive for a better future.

When refugees arrive in Scotland, they often encounter numerous obstacles when accessing essential services and assimilating into their new communities. Earlier this year, the Amiqus team actively participated in the New Scot Leadership event organised by the SRC in Glasgow. During the event, they provided laptops to the attendees, aiming to equip them with the necessary tools to navigate online resources, communicate with support organisations, and access vital information.

By supporting the beneficiaries of the SRC with essential IT equipment, Amiqus strives to empower them in their journey, enabling them to overcome challenges and build a hopeful future. Callum Murray, the founding CEO at Amiqus, expressed his firm belief that everyone deserves a safe home. He emphasised the importance of businesses stepping up to support organisations like the Scottish Refugee Council, acknowledging the difficult decisions they face in allocating vital services that cannot be replicated elsewhere.

Dr. Sabir Zazai (OBE, FRSE), the Chief Executive at the Scottish Refugee Council, expressed his appreciation for the collective efforts of various actors in Scottish communities, including those in the corporate sector. He recognised their dedication in supporting refugees and asylum seekers as they navigate the challenging and stressful period of their lives, embracing their new identities as Scots.

Snugg secures funding to create greener future

Snugg, the groundbreaking online service dedicated to facilitating energy-efficient homes for all, proudly announces the reception of a substantial grant from the Green Home Finance Accelerator (GHFA), an initiative by the UK Government. The GHFA, funded through the Net Zero Innovation Portfolio (NZIP), aims to promote the advancement of green finance products. This funding will be utilised to develop a pioneering ‘Green Home Hub’ (GHH), designed to enhance finance providers’ understanding of customers exploring investments in home energy enhancements, such as solar panels and heat pumps, and to offer more appropriate products.

Snugg’s ultimate goal is to ensure that energy-efficient homes become accessible and affordable to everyone. The GHFA grant represents a significant stride towards accomplishing this mission. Aligned with the UK Government’s commitment to achieving net-zero carbon emissions, the GHFA initiative selected Snugg as one of 26 Discovery Phase projects nationwide, contributing to this crucial cause. Snugg’s participation in the GHFA demonstrates its dedication to creating a more sustainable future for the UK.

The forthcoming Green Home Hub represents an innovative approach to supporting Snugg’s partners, including banks and energy providers. It will provide valuable data insights, including:

  • Accurate cost estimates (as high costs often deter people from implementing energy efficiency measures)
  • Grant application wizard (to simplify the complex and challenging process of applying for grants)
  • House value impact modeling (considering the significant impact on house prices when deciding on home energy improvements)
  • Progress tracking and guidance (to instill confidence in substantial investments for energy efficiency improvements)
  • Fuel savings monitoring (establishing a feedback loop through smart meters, enabling gradual implementation of efficiency plans)
  • Carbon reduction tracking (offering financial benefits to individuals contributing to carbon reduction)

The Green Home Hub will be licensed to partners, allowing Snugg to extend its influence and make a substantial environmental impact by reaching thousands more homeowners throughout the UK.

By addressing the barriers homeowners face when contemplating energy-efficient upgrades, the Green Home Hub aims to empower financial providers to better understand their customers and develop more suitable products, ranging from mortgages to savings accounts. The objective is to transform energy-efficiency upgrades into a clear choice rather than a convoluted decision.

Snugg eagerly seeks collaboration with decision-makers in the finance, energy, and related sectors who are interested in utilising the Green Home Hub to support their customers’ transition to more energy-efficient homes. Interested parties are encouraged to reach out and join Snugg in turning this vision into a reality.

Lord Callanan, Minister for Energy Efficiency and Green Finance, commented, “The government has established long-term commitments to ensure homes across the country improve energy efficiency, reducing bills, energy consumption, and emissions. We are supporting these organisations in developing fresh and innovative approaches to provide greater access to energy efficiency measures like loft insulation, double glazing, and heat pumps.”

Snugg CEO, Robin Peters, expressed enthusiasm, stating, “Securing the Green Home Finance Accelerator grant is a thrilling milestone in our mission to make home energy efficiency simple and accessible to all. With the development of the Green Home Hub, we are poised to revolutionise the perception of home energy investment, transforming it from a seemingly impossible decision to an absolute no-brainer. We have already aligned our efforts with key players like Trustmark, Nesta, and HSBC. Now, we eagerly seek collaboration with additional industry participants as we strive to reach thousands more homeowners and accelerate our collective journey towards achieving Net Zero.”

For further information, please contact: sophie.leang@snuggenergy.com, Tel: +44(0)7496 534 611.

DirectID and Smoothpay to provide stable income to freelancers

Scottish fintech, DirectID, the global credit and risk platform, has recently formed a strategic partnership with Smoothpay, a fintech startup that converts unpredictable income into a dependable paycheck. By leveraging DirectID’s open banking platform, Smoothpay will now offer freelancers, contractors, and small business owners a reliable monthly income.

Smoothpay’s solution aims to remove the anxiety associated with erratic pay schedules, enabling people to pursue the flexible work they desire. By utilising real-time and historical income data through open banking, Smoothpay guarantees gig economy workers a level of certainty, ensuring a consistent income stream.

DirectID’s income verification tool, powered by open banking, is utilised to evaluate the earnings of small business owners and freelancers. Once users undergo a quick 30-second connectivity process, Smoothpay can rapidly analyse up to a year’s worth of customer earnings. As a result, individuals can promptly sign up for the service and start receiving their “Smoothpay” without any delay.

 

Henry Oakes, Founder of Smoothpay, said:

Reliable income analysis is at the heart of Smoothpay, but so too is a smooth (ahem) and trustworthy customer experience. We wanted our customers to find out their Smoothpay within a minute or so of signing up – and we’ve managed to achieve this with minimal fuss by integrating DirectID into the app.

Clare McCaffery, Chief Commercial Officer, DirectID, said:

When I first heard about Smoothpay, I instantly understood the role open banking could play in helping freelancers earn a stable income. Our mission has always been to promote financial inclusion ”“ that means to help people access the products they need, and help the providers to provide them. The world of work has transformed in recent years, and this is an incredible opportunity to use open banking to support those without a traditional salary for the first time.

The Centre for Finance, Innovation and Technology recruits

The Centre for Finance, Innovation and Technology (CFIT) is delighted to reveal that it has teamed up with Recruit121, a worldwide expert in talent acquisition within the finance and technology industry, to locate its core senior leadership squad.

CFIT’s objective is to remove the obstacles to expansion in financial technology, and the achievement of this goal depends on creating a robust and efficient leadership unit.

The roles are:

Head of Talent, Engagement & Placements

Director of Coalitions & Research

Director of Ecosystem & Partnerships

Ezechi Britton, CEO of CFIT, commented,

“The Centre for Finance, Innovation and Technology (CFIT) is extremely pleased to announce that we have partnered with Recruit121 in order to source our core leadership team. These first few roles are critical to making CFIT a success and to carrying out our mission to unblock the barriers to growth for financial technology.”

 

FinTech Scotland is recruiting a Strategic Innovation Director

FinTech Scotland is recruiting for a new role, the Strategic Innovation Director, who will be responsible for leading and evolving the innovation strategy outlined in the FinTech Research and Innovation Roadmap. This appointment is vital and will drive the strategic direction of fintech innovation in Scotland, working across all priority stakeholders and alongside FinTech Scotland’s CEO to advance the fintech opportunity in Scotland and the UK.

The role of the Strategic Innovation Director is critical in the future development of the cluster, building on successes so far and leading the cluster’s innovation strategy and its implementation. Specifically, the StrategicInnovation Director will initially be responsible for establishing a new fintech centre for innovation that focuses on innovation in Financial Regulation ”“ The Financial Regulation Innovation Lab. This project is critical and supported by the UK government, large financial and professional service institutions, regulators, fintech entrepreneurs, and universities.

The Strategic Innovation Director will implement an industry-led strategy and work in partnership with leaders across the cluster to enable the success of the Financial Regulation Innovation Lab. They develop a program of work that will help advance responsible innovation and technology adoption in financial regulation, developing and growing strategic relationships with professional and financial services, regulators, and academia, managing multiple stakeholders’ interests, leading collaborative cross-sectoral actions to advance common opportunities and challenges, supporting delivery of the broader FinTech Scotland strategy. Working as part of the FinTech Scotland senior leadership team they will drive continued fintech cluster excellence.

In summary, this new role of the Strategic Innovation Director is vital for the future development of FinTech Scotland, driving innovation strategy and its implementation, and establishing the Financial Regulation InnovationLab in collaboration with the industry’s leading stakeholders. The successful candidate for this role will bring leadership, business skills, and the ability to work collaboratively with leaders across the cluster to ensure the success of this critical project. The role provides a unique opportunity to play a part in shaping the future of finance and fintech in Scotland and across the UK.

Interested or know someone who could be?

Read more

 

Fintechs DirectID and Faciit partner to make accessing credit easier

DirectID, the global credit and risk platform for risk managers, has announced a partnership with Faciit, an alternative lending solution for individuals without a UK credit history. This partnership utilises DirectID’s open banking insights to assist people with new-to-country status in accessing affordable credit.

Faciit’s save-to-borrow solution operates by requiring users to save one-third of their loan requirements for a minimum of three months. Following this, Faciit provides the remaining two-thirds as competitive loans. Faciit distinguishes itself from traditional lenders by not relying solely on bureau data to make credit decisions. Instead, the company employs DirectID’s income verification, using open banking data to determine whether an individual can afford to repay the loan.

James Varga, CEO & Founder of DirectID, said:

We’re delighted to partner with Faciit to help new-to-country individuals access affordable credit using DirectID’s open banking-powered insights. The partnership is perfectly placed alongside our mission to promote financial inclusion and responsible lending practices. By using open banking, we can enable better access to financial services for everyone, regardless of their credit history or financial status.

The partnership between DirectID and Faciit is rooted in their shared mission to promote financial inclusion. Faciit aims to provide new-to-country status individuals with the loans they need to achieve their financial goals, while DirectID believes everyone should have access to the financial services they need.

Olaolu Olaleye, CEO & Founder of Faciit said:

Our name Faciit means we facilitate it, and it sums up our mission to help create financial possibilities for those who will struggle otherwise. We are excited to partner with DirectID to deliver our complimentary missions of enabling financial inclusion.

GiftRound and Mangopay strengthen partnership

GiftRound, the specialist platform for group gift collection, has announced an enhanced partnership with Mangopay, a platform-specific payment infrastructure provider, to handle all payment flows on the platform. This partnership was established in 2018, at the inception of GiftRound, which has thus far processed over £10.5 million through more than 75,000 money pots using Mangopay.

GiftRound offers a secure, dependable and user-friendly online service that facilitates group gift collection. The platform’s aim is to bring people together to celebrate and revive the pleasure of giving gifts in groups for the collector, the donor, and the recipient. Presently, there are over 800,000 users for 125 daily created GiftRounds.

The management of payment flows is central to GiftRound’s service. The company required a robust payment provider to process intricate payment flows. Mangopay’s expertise and capabilities were a perfect match for this purpose, with a long track record of working with platform-specific businesses, including crowdfunding companies. With Mangopay’s API, GiftRound can ensure secure money collection, fraud prevention and anti-money laundering measures, all of which are vital for the platform. Mangopay also offers KYC processes alongside secure and diverse payment methods.

Moreover, GiftRound will now incorporate Mangopay’s e-wallet modular technology, which will add an extra layer of protection and security before dispersing funds to the recipient. This functionality will provide flexible and scalable pay-in and pay-out capabilities, which are crucial for the platform and GiftRound’s commitment to delivering dependable and seamless payment experiences to customers.

Craig Forsythe, CEO & Founder, GiftRound highlights:

“Having started this journey with Mangopay in 2018, we’re delighted to continue working together. Payment flows are crucial for us as we work on maintaining our high levels of growth by listening to our customers to improve their payment experience on our platform. It is key for us to work with a trusted partner and we know that crowdfunding payment flows are part of Mangopay’s DNA. Mangopay will enable us to process multiple payment flows daily in the safest way possible and we look forward to continuing to grow a reliable, secure service with our trusted partner.”

 

Luke Trayfoot, Chief Revenue Officer, Mangopay declares:

“Our modular and flexible payment infrastructure is a necessary asset for platforms, especially as they look to further improve their payment operations, user experience and scalability. We are proud to support GiftRound on its payment journey and help their customers organise gift collections quickly and easily. The UK represents a key growth market for Mangopay and having national partners such as GiftRound is fundamental for our expansion in the market.”

Bravura double win at pensions age awards 2023

Scottish fintech Bravura is delighted to announce two award wins at this year’s Pensions Age Awards.

Taking place on 21 March 2023 in London, the Bravura team brought home trophies for Best Marketing Campaign and Pensions Personality of the Year for its Principal Consultant and Pensions Specialist, Jonathan Hawkins.

After working more than 25 years in the pensions space, Jonathan joined Bravura in 2018 and has worked within the Group ”“ including its subsidiary Delta Financial Systems ”“ to expand the company’s offering in the pensions space. This includes him leading a highly skilled mixed team of developers, consultants, testers, infrastructure, service design and more across the globe to design and build its industry-leading Integrated Service Provider (ISP), Dashboards Connect, as well as acting as a vital source of inspiration for the industry to challenge the status quo and use dashboards to effectively digitise the industry and bring substantial benefits to individuals and firms once dashboards are available to the public.

Last year, Jonathan took a leading role in the company’s Pension Dashboard Week initiative, which also secured gold for Best Marketing Campaign of the Year. The campaign, which saw more than 1,500 industry participants register for its awareness raising week, aimed to inspire the pensions industry to think beyond the upcoming Pensions Dashboard Programme staging deadlines and focus on the benefits the regulation could bring to both providers and individuals. The campaign featured a range of talks, webinars and Q&As, designed to inspire and educate Pension Providers, Schemes, TPAs and Wealth Platforms about what is involved and required to connect to the pensions dashboards ecosystem, whilst also highlighting how best-in-class technology can turn the possibilities that dashboards present into reality.

Jonathan Hawkins, Principal Consultant and Pensions Specialist, said:

“I’m obviously over the moon to be named Pensions Age’s Pensions Personality of the Year. I’ve been following the development of the pensions dashboards programme for at least seven years now and it’s a hugely exciting initiative to be part of and help the industry take one step closer to the holy grail of open finance as well as encourage people to better understand and engage with their pensions. It’s not just a huge privilege for me, but a massive validation for the entire talented Pensions Dashboards project team at Bravura and our subsidiaries Delta Financial Systems and FinoComp, who have all been instrumental in creating our scalable ISP microservices ”“ Dashboards Connect ”“ and leading the industry with our innovative and inclusive events. The digitisation of pensions is coming, and I’m excited to be at the vanguard of that revolution and commit to further helping the industry imagine the future.”

Justine Pattullo, Marketing Manager EMEA, added:

“Despite our rich history in pensions in Australia and Delta having more than 30 years’ experience in the UK SIPPs market, this is relatively new territory for Bravura and a fantastic achievement to celebrate two wins at one of the industry’s most prestigious awards. This all in-house-created campaign brought together deep expertise from right across our business and showed how we are able to break into new ground as a Group using the huge amount of talent we have within the business. Huge thanks to all the team for helping to make this happen.”

One year on, the FinTech Research & Innovation Roadmap drives FinTech growth in Scotland

A year on from publishing the FinTech Research and Innovation Roadmap, FinTech Scotland announced today that it is on track to hit its targets for economic growth.

In March 2022, FinTech Scotland, the independent cluster body, published a strategic FinTech Research and Innovation Roadmap, identifying industry priorities for the UK to accelerate its fintech ambition through research and development (R&D) and targeted innovation.

The Roadmap was developed in close coordination with fintech entrepreneurs, the financial services sector, academia, regulators, Government bodies and consumer groups, and provides a pathway and action-oriented framework to increase the positive impact of FinTech Innovation across Scotland and the UK.

The Roadmap also supports the recommendation in the Kalifa Review of UK Fintech, for increased R&D investment in fintech innovation to accelerate fintech cluster excellence, and was positively welcomed by Ron Kalifa, the financial services sector, UK and Scottish Government and the City of London Corporation.

The priorities laid out in the Roadmap centred on four strategic innovation themes:

  • Climate Finance
  • Open Finance Data
  • Payments and Transactions; and
  • Financial Regulation

Over a ten-year period, the ambition is to significantly increase fintech related jobs across Scotland and the UK, as well as produce an increase in economic gross value add (GVA) through fintech innovation.

One year on, industry-led collaborations have driven growing action against each of the strategic innovation themes. These collaborations, at the cutting edge of innovation, are driving results. Examples include:

  • Climate Finance
    • 100% increase in fintech enterprises in Scotland focused on climate finance
    • Accelerated fintech partnerships and fintech adoption through new innovation labs launched with Lloyds Banking Group and TSB with outcomes helping UK customers towards carbon efficiency
    • Climate finance enabled through cross-sector collaboration with Space Scotland, accelerating innovations in ESG using data from satellite sources

  • Open Finance Data
    • 26% increase in fintech enterprises developing innovative solutions using Open Banking
    • Accelerated fintech adoption and creation of commercial opportunities through the launch of Phoenix’s innovation forum to build greater engagement and support the well-being of its customers, driving forward greater financial inclusion
    • The Smart Data Foundry’s research on vulnerability in the pension market, the impact of late payments on the SME market, and on the net zero agenda, all enabled through Open Finance Data

  • Payments & Transactions
    • 19% increase in fintech enterprises in Scotland developing payment solutions
    • Investment of £94m into fintech enterprises focused on payment innovation in the last 12 months
    • Development of Cryptofinance, blockchain and Distributed ledger courses at leading Scottish universities

  • Financial regulation
    • 13% increase in fintech enterprises specialising financial regulation innovation
    • Investment of £83m into fintech enterprises focused on financial regulation innovation in the last 12 months
    • Confirmed government and industry support to accelerate innovation in financial regulation enabling the creation of the Financial Regulation Innovation Lab

Nicola Anderson, CEO of FinTech Scotland, said:

“By enabling collaborative innovation across the fintech ecosystem not just in Scotland but the whole of the UK and beyond, we can see how the FinTech Research and Innovation Roadmap is already making a real difference ”“ helping businesses to build economic growth, create jobs, work through climate finance to enable a future net zero economy, and helping to alleviate the cost of living crisis.

“The FinTech R&I Roadmap demonstrates how collaboration and innovation can change people’s lives, driving positive outcomes for both business and citizens both in Scotland and across the UK.”

Charlotte Crosswell OBE, Chair of the Centre for Finance, Innovation and Technology, said:

“The UK Fintech Sector Review clearly set out recommendations to ensure the country retains its global leadership position in financial innovation. An important component of that success is increased investment in fintech, and ensuring the brightest minds across the UK are involved. It’s encouraging to see that in just one year, the FinTech Research and Innovation Roadmap has enabled more of that important R&D collaboration and aligns with our approach at CFIT.”

Damian Nussbaum, Executive Director, Innovation and Growth City of London Corporation, said:

“FinTech continues to be a major success story for the UK, and its development is critical to ensuring the UK maintains its position as a global financial hub. The UK has a unique innovation ecosystem where research and development play a critical role. The Roadmap highlights the power and potential of that ecosystem and the transformative impact that collaboration in this sector can have across society. The City of London Corporation welcomes the progress made and we look forward to working with Scotland and the other nations and regions of the UK to drive further fintech growth.”

Jane Martin, Managing Director of Innovation and Investment at Scottish Enterprise, said:

“Strong, effective and purposeful collaboration between industry, academia and the public sector is key to delivering much needed innovation and growth for Scotland. The FinTech Research and Innovation Roadmap is a demonstration of how collaborative action through purposeful strategic action can drive good economic outcomes and accelerate future growth.”

Catherine Martin, Vice Principal Corporate Services at the University of Edinburgh, said:

“As a founding partner of FinTech Scotland the University of Edinburgh is fully committed to the role R&D plays in developing fintech economic opportunities in Scotland and across the UK. Our experience and academic excellence in both disruptive technologies and other sectors has shown how strategic and purposeful partnerships can shape the future direction of vital industries and sectors in our economy and society. We’re committed to playing our role as a leader and as a collaborator in fintech and financial services innovation, pushing forward the FinTech Research and Innovation Roadmap priorities”.

Pardeep Cassells, Head of Securities and Claims at AccessFintech, said:

“Fintech innovation can’t afford to slow down. Technologies advance fast, customer expectations faster and the need for a fairer, more inclusive and more sustainable financial sector is still to be fulfilled. The fintech community has welcomed the FinTech Research and Innovation Roadmap. It focuses the mind, helping fintech businesses like AccessFintech accelerate through understanding the points of convergence across the sector which in turn enables more collaborations and innovations.”

Eleanor Shaw, Associate Principal at the University of Strathclyde, said:

“Strathclyde is proud of its role in shaping the future of fintech. It was one of the first universities to launch an MSc in fintech in the UK. Very early on we understood the importance of financial innovation to re-invent a sector that was built to benefit the many, not the few. R&D is key and the Roadmap is a fundamental tool. It’s been a key component in advancing our fintech strategy at Strathclyde. As a result we’re working in collaboration with FinTech Scotland, the University of Glasgow and the industry to establish the Financial Regulation Innovation Lab, to advance innovation in financial regulation.”

Frank Gauld, CEO at Smart Data Foundry, who sponsored the Roadmap, said:

“When it comes to data and innovation, the potential is exciting and unlimited. The FinTech R&I Roadmap focuses the mind and provides a clear industry view on innovation priorities. In the last year we’ve worked closely with FinTech Scotland, progressing research and innovation to unlock the power of financial data to improve people’s lives across society, the economy and the environment. Examples include our work with the FCA to innovate in the area of APP Fraud, research on consumer vulnerability in the pension market, the impact of late payments on the SME market, and working with Bankers for Net Zero to support the initiative to transition to a zero carbon economy. The insights are used across the industry and by regulators to change outcomes for people and businesses for the better”.