Making Scotcoin available on the global market ”“ a significant milestone for Scotland
In the growing world of blockchains and cryptocurrencies, Scotcoin is taking a big step forward with the announcement of our partnership with ProBit Global, which will see us publicly list SCOT on its exchange later this year.
With a presence on the ProBit platform, holders of Scotcoin across the world will be able to exchange existing tokens and new users will be able to buy Scotcoin for fiat currency (such as British pounds, US dollars or euros) or other types of cryptocurrencies.
ProBit has an excellent reputation and a substantial international presence that will allow us to spread the word about Scotcoin to more people than ever before. The platform currently operates in more than 200 countries, supports over 45 different languages, and trades in more than 700 different cryptocurrencies.
ProBit will also play an essential part in marketing up to and after the listing by sending information about Scotcoin to its two million customers.
Scotland has around 10 million members of its diaspora worldwide, and many people are sending and receiving money regularly. Importantly, through Scotcoin’s own scotscan.io system, transactions happen instantaneously and without payment of gas fees. This could be a massive benefit for anyone wishing to add Scotcoin to their range of revenue acceptance mechanisms.
Listing the cryptocurrency ties directly into the broader mission of using Scotcoin as a force for good through the Scotcoin Project CIC, which is about people and helping deliver sustainable and improved quality of life for those in need.
This significant milestone will allow further development of the Scotcoin Project CIC ”“ including appointing a professional full-time management team to deliver our business plan ”“ which is focussed on working with preferred partners to deliver a variety of initiatives relating to clothing, food, accommodation, and the environment. We continue to seek suitable preferred partners.
Amid ongoing economic uncertainty, now is the time for Scotland to embrace the idea of a supplementary form of money to strengthen its businesses, charities, and communities, helping to sustain our recovery.
We look forward to welcoming more users to the Scotcoin network, supporting our wider ambition and ultimately playing their part in supporting good causes.
Read more and be part of this exciting journey here: https://scotcoinproject.com
Please go to scotscan.io and sign up for an @scot address
Scottish fintech Zumo gets funding to decarbonise crypto
Scottish Fintech Zumo, just completed its Zero Hero pilot project, a live trial to buy Renewable Energy Certificates to compensate the electricity usage of bitcoin bought via the Zumo app.
During this trial, a total of 850 megawatt-hours of electricity was compensated, the equivalent of an electric vehicle for over three million miles.
This is very important with 84% of customers feeling that the issue of environmental sustainability in crypto paramount and that they are more likely to use a crypto wallet that participate in reducing crypto’s environmental impact.
The results of this trial are available at ”“ Decarbonising Crypto: Towards Practical Solutions’
Innovate UK just awarded Zumo and Zero Labs a grant to further fund research into the decarbonisation of crypto. This RenewableCrypto project starts this month with a clear objective of finding practical ways in which wallets and platforms can scale the use of renewable energy.
Doug Miller, Co-Founder, Zero Labs, said:
“Zumo is demonstrating leadership in the Crypto Climate Accord (CCA) community in two ways: leading dialogues about how to estimate the energy use of BTC holdings and procuring clean energy to power Zumo platform customers’ holdings in a verifiable way. Zero Labs is thrilled to support Zumo with scaling a solution across its growing customer base to increase demand for clean energy around the globe and convert the wider crypto industry into a newfound source of demand for clean energy in voluntary markets.”
Kirsteen Harrison, Environmental and Sustainability Adviser, Zumo, said:
“The results of our Zero Hero pilot project are hugely encouraging, showing both what is possible and a significant appetite from customers for clean energy solutions. But this is just the beginning, and the story can only continue through the collaboration of all market participants ”“ miners, platforms and end users ”“ within the crypto sector. We hope that our new report will help continue to shift the dial from talk towards action.”
“Along with our partners at Zero Labs, we’re aiming to lead this charge and explore new, digital-led solutions that remove practical barriers to voluntary renewables procurement and verifying green credentials. With electricity being the most significant part of crypto’s carbon footprint, we have a unique opportunity as a sector to rapidly decarbonise.”
Open Banking Reporting joins Visa European Fintech Partner Connect programme
Open Banking Reporting (OBR), a data-driven risk management fintech, has partnered with Visa to enable lenders to provide crucial real time business support.
OBR’s solution OpenRep uses advanced analytics and robotic automation, connecting the SME’s accounting software and banking transactions with commercial credit, Visa and macro-economic data to deliver real time monitoring, proactive alerts, and actionable insights to both the lender and the SME.
OpenRep allows lenders to provide a highly personalised approach to risk assessments through the monitoring of financial trends within a business’ performance; identifying opportunities to support the SME and the insight to act when access to finance is needed most.
Eddie Curran, CEO of Open Banking Reporting, said:
“We are very proud of our flagship product OpenRep and the positive impact it has for both SMEs and lenders.
“By linking real time financial data with advanced analytics and robotic automation we have developed an early-warning system that can help SME owners and lenders identify risks and opportunities. As we continue in a period of economic uncertainty, it is even more important that SMEs and lenders access not just the most up-to-date data, but the tools and technology that turn it into actionable insight.
“OpenRep helps business owners achieve their strategic goals and allows lenders to provide a more proactive and personalised service.”
Through the Fintech Partner Connect Programme Visa will introduce OpenRep to their lending customers firstly in the UK and then into Europe.
Encompass appoints renowned KYC experts
Scotland based fintech Encompass Corporation announced the appointment of senior industry experts to help banks get the benefits of automation initiatives.
The COVID-19 pandemic has accelerated digital transformation. Companies have been eager to reduce onboarding costs and improve customer experience but still need help to build the foundations to achieve this goal.
The newly appointed Transformation Directors will offer practical support and advice that allows Encompass’ customers to drive change and impactful adoption of KYC automation within their organisations.
The new team includes former Barclays senior executive Howard Wimpory who led major global projects, served as a Managing Director within the bank, leading the Group Financial Crime function. He also authored a new whitepaper for Encompass, titled Embracing KYC Transformation’.
Also joining the team, Jo Scanlan, a recognised leader with experience in leading banks Deutsche Bank, HSBC, Macquarie Bank, Westpac and ANZ. She has led global middle office and operations, overseeing a range of areas, including front office and client support, client onboarding, and regulatory compliance and reporting.
Finally, Darren Marion, also joins the team, bringing his experience acquired within several high-profile investment banks, such as UBS, Deutsche Bank, and Citigroup.
Nicola Pickering, VP, Customer Success and Delivery, Encompass, said:
“We are passionate about ensuring that the benefits of investing in our KYC automation are realised by our customers. This requires building partnerships and transformation strategies that encompass people, process, and technology. It has been great to hear directly from customers how valuable our team’s direction and thought leadership has been in navigating KYC transformational change.”
New initiative launched to support fintech in Scotland
FinTech-Tables is an initiative that will bring together the FinTech ecosystem in Scotland to drive growth, innovation, collaboration and connectivity.
Launched by BDM Marketing & Communications and supported by FinTech Scotland, the initiative will deliver a series of events throughout 2022, bringing together the FinTech community in Scotland to discuss and tackle industry-wide challenges in key areas impacting growth including policy and regulation, skills and talent, investment and internationalisation.
Supporting industry priorities, FinTech-Tables will align to the FinTech Scotland Research & Innovation Roadmap 2022-23 which aims to deliver a threefold increase in economic growth and job creation over the next 10 years.
The ambition for the roadmap is to deliver an increase in economic gross value add (GVA) through the FinTech industry in Scotland from £0.5bn today to £21bn GVA by 2031 as well as delivering in excess of 20,000 new FinTech jobs.
FinTech-Tables, which already has support from a number of other organisations including Glasgow based data recruitment specialists MBN Solutions and global payments platform Mambu, will create an environment for the cluster to come together to discuss key findings from the report and create actions to deliver against its objectives, focusing on four priority themes which are considered the building blocks of the roadmap; open finance data, payments & transactions, financial regulation and climate finance.
The forum will launch in May 2022 with its opening event Growing FinTech in Scotland’ and will deliver a series of events and discussions in support of the FinTech industry in Scotland over the next 12 months.
“We’re delighted to support the launch of Fintech Tables. Having recently published the UK Fintech Research and Innovation Roadmap, we believe those events will enable the fintech cluster to meet and discuss many of the findings and actions detailed in the document. We’re looking forward to many interesting conversations with those individuals and companies that make Scotland one of the leading fintech nations”
(Mickael Paris, Marketing Director, FinTech Scotland)
“We are excited to partner with FinTech-Tables and to assist in the work being done by the team to support the growth of the Fintech sector.
Data driven innovation will form a key component when delivering against the key pillars outlined in the Fintech Scotland Research & Innovation Roadmap and the report highlights the importance of data in delivering positive economic, societal, and environmental outcomes in Scotland.
If we are to achieve the desired goal of 32,000 new jobs for the sector in by 2033, it is important that we come together as a community and consider how we can attract a skilled diverse and inclusive talent pool to Scotland from across the entire globe”
(Michael Young, CEO, MBN Solution)
“FinTech in Scotland is already having a huge impact on the way that individuals and businesses interact with money and financial services. It has the power to change lives and have a positive impact on both people and the planet.
Fintech-Tables is committed to supporting the growth of FinTech Scotland. We will do this by creating a community where people can come together to tackle industry issues in an environment that encourages new innovations and partnerships to emerge”
(Ian Davey, Director, BDM Marketing & Communications and Founder of FinTech-Tables)
AG Elevate launches accelerator programme
Addleshaw Goddard just launched its 5th AG Elevate programme ”“ an accelerator for those looking to become the next tech-unicorn.
This fast-track 10-month programme is designed to accelerate the growth of tech businesses in all sectors of the economy helping them with legal challenges that can arise as they grow.
Previous AG Elevate cohorts have included Scottish fintechs Amiqus, Trace and OBR.
The programme is designed, developed and delivered by AG‘s expert lawyers, who will provide access to legal advice, legal and business mentors and networks across the globe.
Elvan Hussein, Partner and co-programme lead at Addleshaw Goddard, said:
“We have emerged from the pandemic into a different environment, with tech integrated in all aspects of our lives and this continues to both offer opportunities for high growth and the chance for tech businesses to play a huge part in rebuilding and growing our economies wherever they are based.”
“AG Elevate is tried and tested and we understand what matters most to these businesses, and what challenges they will inevitably face. Our mentors have the specialist sector knowledge to bring tangible added value to the relationships with their Elevate members, beyond their undoubted legal expertise and we can’t wait to meet our new cohort.”
To qualify for consideration for a place on the programme, businesses need to have existing plans for high–growth and have received external funding.
Interested parties can apply at www.addleshawgoddard.com/en/
Encompass named ”˜RegTech Partner of the Year’
Scotland-based Encompass won RegTech Partner of the Year’ at this year’s British Bank Awards.
Now in its eighth year, the awards, run by Smart Money People, recognise top financial products and innovation based on more than 81,000 votes.
This recognition comes after Encompass was selected as a category finalist in both 2021 and 2020.
Wayne Johnson, CEO and co-founder of Encompass, said:
We’re thrilled, and proud, to have been named as RegTech Partner of the Year at this year’s British Bank Awards.
Being chosen as the overall winner among such strong competition demonstrates not only our impact across the banking sector, but also the loyalty of our customers, who voted for us.
2022 is shaping up to be a strong year for our business globally, and we have big plans for growth in the months ahead, as we continue to work with and for our expanding customer base.
Jacqueline Dewey, CEO of Smart Money People, added:
With the awards 100% voted for by consumers and no judging panel, the British Bank Awards truly reflect the best of the UK banking industry, and the commitment and engagement these organisations have from their customers.
This year, our winners range from the newest firms in the market to well-established household names, illustrating the breadth and depth of the UK’s financial services market across many sectors. We’re absolutely delighted for our winners but also hope that these awards serve a higher purpose in helping consumers and businesses make more informed choices about who they trust with their hard-earned money.
Snugg® wins place on Lloyds Banking Group Launch Innovation Programme
Scottish fintech and high growth start-up Snugg® has been chosen to join the 2022 cohort of the Lloyds Banking Group Launch Innovation Programme.
Run in partnership with FinTech Scotland, the Launch Innovation Programme offers ambitious fintech companies like Snugg® the chance to run a proof of concept in partnership with Lloyds Banking Group. Sixteen fintech firms from across the UK and Europe have been selected to take part in the programme this year.
The Launch Innovation Programme focusses on three key strategic challenges facing Lloyds ”“ achieving sustainability goals, supporting colleagues in a post-pandemic world, and improving customer’s financial lives. With a mission to make energy efficient homes simple and affordable for everyone, the Snugg® application to join the programme focused on sustainability and helping the financial lives of Lloyd’s customers.
Private sector finance from banks like Lloyds is going to play an increasingly important role in the net-zero transition over the coming years. Only one in eight of the 17 million privately owned homes in the UK currently meet the energy efficiency standards needed to reach net-zero by 2050. The Snugg® platform plans to make the process of making energy efficiency changes to homes simple. Using sophisticated data science, it will develop a tailored plan and provide users with access to the grants, green finance and trusted installers to make the sustainable home improvements they need.
The fintech companies taking part in the programme have ten weeks to refine and test their innovative solutions to the challenges set by Lloyds. Working in collaboration with Lloyds, each firm has direct access to sponsors and mentors in the bank, as well as business development support, clinics and externally run business masterclasses.
Co-Founder and CEO of Snugg®, Robin Peters, said: “Taking part in the Launch Innovation Programme gives us an incredible opportunity to test our home energy efficiency platform with one of the UK’s biggest banks.
Over the course of ten weeks, the programme gives the selected participants access to business leaders, designers, industry experts and mentors. We’re delighted to have been selected to take part in the programme which we believe will help take Snugg® to the next level.”
Phoenix Group collaborates with TCS COINTM and FinTech Scotland to drive forward innovation in customer engagement and financial well-being
Phoenix Group, the UK’s largest long terms savings and retirement business, has launched a new Innovation Forum that will look to use the latest FinTech innovation to build greater engagement and support the well-being of its customers, driving forward greater financial inclusion.
In collaboration with TCS’ Co-Innovation Network (TCS COINTM) innovation ecosystem and FinTech Scotland, the Phoenix Innovation Forum will invite FinTech enterprises and entrepreneurs to explore partnership opportunities that will introduce innovative thinking and new ways of working. Phoenix will be looking to work with FinTech firms who share a passion for improving financial wellbeing, with a focus on making a genuine positive impact on customers’ lives on their journey to and through retirement.
Phoenix Group’s purpose is to “help people secure a life of possibilities” and as part of this, it is committed to building greater financial literacy and inclusion. Phoenix looks toengage with its customers throughout the different stages of their life, providing the right products and support, at the right time, to help them make the right choices.
The Phoenix Innovation Forum will give FinTech enterprises and entrepreneurs the opportunity to design, refine and present innovative solutions to senior leaders across PhoenixGroup. The initial focus will be on two key engagement themes:
- Curiosity – Using creative tools and interactions to spark increased levels of curiosity about saving and financial planning, which can help to nurture greater learning, especially in the area of planning for retirement.
- Gamification ”“ Using gamification’ tools and rewards which are interactive to encourage greater engagement in digital channels, by creating an immersive approach and demonstrating to customers the value of saving and investing for the future.
Phoenix’s Managing Director ”“ Pensions and Savings, Colin Williams, said:
“This is a great opportunity for Phoenix to connect key decision makers within our organisation with innovative enterprises. We are looking to fuel creativity and come up with new solutions which really support our customers and build greater engagement and financial inclusion which is important to our Group’s social purpose and part of our long term sustainability strategy. We are looking to deliver forward-thinking propositions and to be at the forefront in developing innovative solutions, working in collaboration with TCS COIN and the FinTech Scotland community.”
Nicola Anderson, Chief Executive of FinTech Scotland commented:
“We are delighted to support the Phoenix Innovation Forum which is a further example of the valuable role FinTech innovation can play in improving customers’ financial engagement and well-being. Phoenix’s commitment to innovation to support its large customer base and its partnership approach will attract significant interest from FinTech entrepreneurs who share their ambition of helping customers more effectively engage with savings and investments.”
Vivekanand Ramgopal, Global Head ”“ TCS BFSI Products and Platforms, commented:
“Enterprises are looking to form collaborative, purpose-driven ecosystems to launch innovative new offerings that deepen customer relationships and drive growth. To succeed, they need an extensible, open API-based, future-ready digital core like the TCS platform that powers Phoenix Group’s operations. That agile digital foundation is now enabling our two organisations to co-innovate around client analytics and customer experiences at our Innovation Lab in Edinburgh. We are delighted to expand this partnership with the Innovation Forum, and bring in partners from our extended innovation ecosystem, the TCS COIN, to innovate at scale and at speed.”
The initiative will provide the opportunity for FinTech innovators to develop a potential formal partnership with Phoenix Group to build solutions which will not just benefit Phoenix’s customers, but will contribute to innovation for wider society. FinTech firms looking to be part of the Phoenix Innovation Forum will can register their interest in participating on this page.
The Startup Race announces 9 events in Scotland
The Startup Race, just announced that it will host nine events in Scotland All those events will be headlined by bestselling entrepreneurship author Ash
Maurya, well-known for his book Running Lean, which has become a real entrepreneurship movement.
The events will take place in Edinburgh, Glasgow and Dundee, and will aim to connect angels, investors and startup founders. They will offer the opportunity to discuss how to identify risk in business model. The events are supported by both The Startup Race through a partnership grant with the Scottish Government’s Technology Ecosystem Initiative.
Ash Maurya said:
“As I always say, Building a scalable and successful business starts with knowing what to measure and how. Being able to bring this mission to Scotland with the support of both The Startup Race and the Scottish Government’s Technology Ecosystem Initiative, in order to meet with like minded individuals ”“ this is a true honour.”
Here is a breakdown of the programme of events:
Dundee 3rd May
Angel Investor Lunch with Ash Maurya 12:00-14:00
Scaling Lean Workshop for Scaleups & Investors with Ash Maurya
14:00-18:00
Fireside Chat for Scaleups, Startups & Investors with Ash Maurya
19:00-21:00
Glasgow 4th May
Angel Investor Lunch with Ash Maurya 12:00-14:00
Scaling Lean Workshop for Scaleups & Investors with Ash Maurya
14:00-18:00
Fireside Chat for Scaleups, Startups & Investors with Ash Maurya
19:00-21:00
Edinburgh 5th May
Angel Investor Lunch with Ash Maurya 12:00-14:00
Scaling Lean Workshop for Scaleups & Investors with Ash Maurya
14:00-18:00
Fireside Chat for Scaleups Startups & Investors with Ash Maurya
19:00-21:00
Mr. Maurya’s objective is to meet Scottish Angel investors and Scaleup Entrepreneurs to discuss how funded Scaleups need to exploit the “Lean Startup principles” to achieve revenue and profit growth.
Michael Clouser, co-founder of The Startup Race said
“Introducing Ash Maurya to the Scottish startup community has been a goal for quite some time, and we are thrilled to be able to launch this partnership. We hope Scottish based startup founders, angels and investors find value in these events for future growth in all of their entrepreneurship endeavours.”
For more information on The £10,000 Startup Race, please visit:
https://thestartuprace.com/the