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FinTech Scotland

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General Information
The date when the cluster organisation was established: 
Monday, 8 January, 2018
Number of staff in the management team of the cluster organisation : 
Eastern Scotland
Membership to other networks/partnerships: 
European Fintech Discovery Programme
The Law Society of Scotland
Cluster Management Team: 
Cluster Manager
Cluster Manager
Cluster Manager
Languages spoken: 
Sectoral and Industrial Focus
Sectoral Industries: 
Financial Services
Information Technology and Analytical Instruments
Technology fields: 
Socio-economic models, economic aspects
Technology, Society and Employment
S3 EU priority areas: 
Information service activities
Activities auxiliary to financial services & insurance activities
Emerging industries: 
Creative Industries
Digital Industries
Areas of specialisation of the cluster not covered above: 
Financial Technology and Data
Composition of the cluster
Total number of members: 
Number of SME members: 
Number of start-ups among SME members: 
Number of larger company members: 
Number of research organisations/universities/technology centres: 
Number of other ecosystem actors : 
Entrepreneurship and scale-up support facilities in the cluster's ecosystem (see "Organisation type"): 
Organisation/Facility NameOrganisation/Facility TypeWebsite
Co-working Space
Par Equity
The University of Strathclyde Technology and Innovation Centre
Technology center
Name and link of major players: 
Nucleus Financial
Larger Company
The University of Edinburgh
The University of Strathclyde Technology and Innovation Centre
Technology Center
Castlight Financial
Money Dashboard
The ID Co.
Larger Company
Lloyds Banking Group
Larger Company
Larger Company
Larger Company
The University of Strathclyde
Cluster Strategy

FinTech Scotland is an independent body established by the financial services sector, universities and Scottish Government to ensure that Scotland seizes the fintech opportunities and achieves positive economic and social outcomes by encouraging financial innovation, collaboration and inclusion as part of the country’s broader digital economy objectives.


The organisation acts as a strategic enabler focused on leveraging the potential economic (i.e. productivity, business creation) and social (i.e. access to financial services and employment) benefits arising from becoming a leading global centre focused on data driven fintech innovation.


FinTech Scotland’s objectives are to develop an innovative community of fintech firms, generate impactful collaborations between firms of all sizes and foster an inclusive cluster which is globally recognised.


FinTech Scotland was initially founded in January 2018 as a joint initiative by Lloyds Banking Group, HSBC, University of Edinburgh, Scottish Government and Scottish Enterprise. The organisation is now supported by a broad range of global financial services, technology and professional services firms as well as University of Edinburgh and University of Strathclyde, the Financial Conduct Authority, Scottish Government and Scottish Enterprise


In January 2020, FinTech Scotland was formally recognised for the development for the fintech cluster in Scotland and accredited with the bronze label for Cluster Management Excellence by the European Secretariat for Cluster Analysis.

Do you have a formalised strategy?: 
Do you have a specific strategy focus that addresses internationalisation ?: 
Support services provided: 
Access to the European Internal market
Access to public support (regional/national programmes, innovation vouchers, etc.)
Facilitation of collaboration between members
Facilitation of cross-sectorial cooperation
Promotion of activities (marketing/ visibility)
Details of support services: 

-Promotional activities: Each member of the FinTech Scotland community is offered the opportunity to create their profile on our website. They can also publish content on our blog and news section. In addition, we invite them to speak at events in Scotland, the UK and internationally. We help them get visibility at large global tech events we have partnerships with. Finally, we support all their marketing activities on and offline by maximising their reach through our network.

-Facilitation of cross-sectorial cooperation: We work closely with organisations such as the Law Society of Scotland, ScotlandIS, the Scottish Business Resilience Centre, Police Scotland, The National Crime Agency, The Oil and Gas Technology Centre and more to spot collaboration opportunities. Our mantra is that "fintech is far too important to be left to the Financial Services Sector" and that it cut across all verticals. FinTech Scotland established the first ever Fintech Consumer Panel to help fintech firms tackle societal issues. We're currently in the process of establishing the Global Open Finance Centre of Excellence which will, amongst other things, bring health and financial data together to assess the impact of financial stress on people's physical and mental health in order to help innovative fintech firms create new solutions to tackle those issues.

-Access to the European Internal Market: FinTech Scotland along with 8 other fintech hubs across Europe launched the European Fintech Discovery Programme in September 2019. It enables large financial institutions to access innovation from all around Europe and for fintech firms to be made aware of industry calls from all participating countries. Outside of this programme, FinTech Scotland is travelling to Europe on an on-going basis (Northern Ireland, Copenhagen, Amsterdam, Paris, Zurich, Berlin, etc.) and always bring fintech firms along. FinTech Scotland works in collaboration with Scottish Development International to welcome European delegations to Scotland as well as send Scottish delegations abroad to facilitate knowledge transfer and take to market opportunities.

-Access to public support: FinTech Scotland appointed a third party company called Vivolution to help fintech firms navigate Scottish Enterprise support capabilities as well as European funding opportunities. Those opportunities are then shared via events but also by FinTech Scotland directly via our private Slack channel, email and social media. FinTech Scotland works very closely with Scottish Enterprise to help with the development of new support services and improvement of existing ones.

Facilitation of collaboration between members: FinTech Scotland's main focus has always been to create a vibrant community of innovative firms within a vibrant eco-system. We do that by bringing all 120 SME firms together on a regular basis at private events to network and discuss industry topics. They also have access to an online private Slack channel to discuss, exchange and ask each other for help. Finally, we spend a lot of time connecting them with one another when relevant. Outside of the SME community we are also working very hard to create collaboration opportunities between the SME firms and the large financial institutions that we count amongst our partners. This is why we spend as much time with large firms understanding their problems as we do with smaller innovative enterprises who will bring the solutions.

Cooperation Activities
International Cooperation
The main countries targeted by the cluster organisation: 
United States
Our cluster organisation undertook the following international activities to support our members: 
Participation at missions/events/study visits/fairs
Trans-national Cooperation
The main countries targeted by the cluster organisation: 
Our cluster organisation undertook the following trans-national activities to support our members: 
Participation at missions/events/study visits/fairs
Please explain: 

FinTechScotland is very active in Europe. We attended the fintech week in France to meetwith other European fintech hubs. We also attended the Copenhagen fintech week and brought 2 fintech firms with us which resulted in very serious commercial leads.

We were present an one of the partners at Money2020 in Amsterdam in 2018, one of the largest fintech event in the world.

We are always keen to support trade missions in and outside Europe. This year we went to Switzerland and Germany alongside the Department for International Trade.

Which clusters do you collaborate with?: 
Holland Fintech (EU)
ScotlandIS (UK)
Copenhagen Fintech (EU)
TechQuartier (EU, Germany)
Fintech District (EU, Italy)
Innsomnia (EU, Spain)
Fintech Portugal (EU)
The LHoFT (EU, Luxembourg)
B-Hive (EU, Belgium)
Boston sandbox (USA)
Support Programmes
Participation in Funded Support Programmes: 
European ProgrammesProject NameLink

In 2018, EIT opened one of its satellite offices in Edinburgh. One of its main area of interest is fintech. The existence of a strong fintech ecosystem in Scotland made EIT choose the Scottish capital.

FinTech Scotland has been involved with EIT since the start of this project, occupying a central role in establishing the satellite by bringing the University of Edinburgh, Scottish Enterprise and the private sector together. We also helped organise their launch event by inviting various stakeholders including ministers.

We now work very closely withtheir new team by identifying opportunities related to EIT's missions.

Success Story / Achievements: 


Examples of FinTech Scotland’s strategic enabling leadership role over the last twelve months have included:


  • The formation of the FinTech Scotland Consumer and Citizen Panel, a first for UK and Europe, launched to encourage the development of new solutions to tackle societal and inclusion challenges
  • International trade missions of fintech firms to meet the Scottish community including from Canada, Hong Kong, France, Switzerland, Singapore and USA to name a few
  • Scotland’s Fintech Festival over three weeks in September with 60+ events across the country with international fintech guests attending from over twenty nations
  • Collaboration with UK fintech organisations to form the Fintech National Network to support investment, innovation and inclusion initiatives
  • Founding member of the European Fintech Discovery Programme with eight leading fintech hubs across the continent to offer greater access to innovation across nations
  • Ongoing close collaboration with the financial regulator, the FCA, including the extention of the of the secondment of a senior regulators to FinTech Scotland
  • Developed financial inclusion and diversity initiatives working with consumer groups, social enterprises and charities such as Money Advice Scotland
  • Facilitated cross sector fintech innovation, for example, with ScotlandIS, Law Society of Scotland and as well as Scottish Government Digital Team
  • Partnership agreement with University of Strathclyde in developing the Glasgow fintech cluster as part of the City’s Innovation District
Why should partners choose you for cooperation?: 

FinTech Scotland is very inclusive.

From the get go we decided not to be a piad for membership organisation. It enables us to work with everyone. This, in part, explains why our network has grown massively in Scotland, the UK and internationally.

Collaborating with FinTech Scotland is being part of a vibrant eco-system that unites universities, the regulator, the government, the private sector and a very innovative fintech community.

We have very strong values around building a better world through innovation, collaboration and inclusion and want to collaborate with anyone who might share those.