Global Reach Will Assist Enabler To Develop Worldwide Collaboration

Established by the Scottish Government, the financial services sector and the University of Edinburgh, FinTech Scotland will formulate a national strategy and deliver initiatives which put Scotland in prime position to leverage the economic and social benefits of data-driven fintech innovation.

Pinsent Masons has been at the forefront of the fintech revolution. Most recently it released a report on Open Banking, one of the most exciting developments in financial services for years, with the potential to revolutionise how consumers engage with financial products and services.

Pinsent Masons partner and financial services technology specialist, Yvonne Dunn, said that to date London has been the pre-eminent location for fintech in the UK (and the world), but the race is on to increase fintech presence outside of London.

She said: “Scotland has a lot to offer fintech based on the large financial services institutions already established here, our general culture of entrepreneurism and the strength of our universities sending top-rated computer science graduates into the market.

“Fintech is disrupting global markets, it is a growth industry with massive potential, and it is an emerging sector in which Scotland has an opportunity to play a key role. Pinsent Masons is delighted to be appointed as a Strategic Partner to Fintech Scotland. We are looking forward to deploying our skills and experience to help develop a strategy which creates fantastic job opportunities, generates growth and attracts the brightest talent the sector has to offer.”

Pinsent Masons has specialist technology and financial services lawyers working internationally and its global reach is an excellent match with FinTech Scotland’s objective of building worldwide fintech engagement and collaboration, said Dunn.

She added: “A key objective of FinTech Scotland is to look outwards from Scotland and it has chosen strategic partners who have a strong presence in Scotland as well as being global leaders in their field. We are doing a lot of work in the fintech space in London, Dublin, Dubai, Madrid, Paris and Munich amongst other important hubs, and our international footprint was a factor in establishing this new relationship.”

Other strategic partners announced by FinTech Scotland chief executive, Stephen Ingledew, include Deloitte, Dentsu Aegis Network and Sopra Steria. David Ferguson, the founder and chief executive officer of fintech success, Nucleus Financial, has been appointed to chair the FinTech Scotland board.