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New partnership forged

SFE and Deloitte target fintech growth

Partridge Jones MackenzieA partnership has been forged between business advisory firm Deloitte and industry body Scottish Financial Enterprise to help build Scotland’s fintech sector.

SFE’s FinTech Strategy Group brings more than 30 industry figures from financial technology disciplines together with representatives from government and higher education.

Deloitte will help develop understanding of big data, regulation, cybercrime and globalisation. It will also help with employment and skills forecasts 

The first meeting of SFE’s FinTech Strategy Group took place last month, chaired by Royal Bank of Scotland’s Head of Design, Louise Smith. The FinTech industry is estimated to generate annual revenues of £20 billion across the UK, employing 135,000 people. 

Kent Mackenzie, risk advisory director at Deloitte, said: “FinTech is emerging as one of the real growth opportunities for the Scottish economy.

“With some notable success stories behind us already, the industry is becoming an increasingly visible part of Scotland’s financial services community and, with so many new and exciting companies, Edinburgh could be seen as a real centre of excellence – second only to London in the UK.”

Jamie Partridge, head of financial services for Scotland at Deloitte, added: “With a long tradition in helping the financial services community throughout its proud history in Scotland, we look forward to working with this latest batch of companies as they seek to put the industry, and themselves, on the map. There are exciting times ahead as Scotland strives to set a new benchmark in financial innovation.”

Graeme Jones, chief executive of Scottish Financial Enterprise, commented: “Scotland is well placed to be a serious global contender in FinTech. With the pace of innovation in financial services never faster, it’s more important than ever that we draw on the collective knowledge incumbent in our institutions to lead the field and maintain our competitiveness with other centres across the world.

“As our strategic partner, Deloitte will play a crucial role in establishing the overall FinTech strategy for Scotland and then executing it. The firm’s knowledge of, and engagement with, the industry will mean we have a fantastic support to draw on as our strategy evolves.”

Photo: Jamie Partridge, Graeme Jones and Kent Mackenzie (contributed) 

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