Rewards could be high
Scots lured by Austria-Switzerland fintech mission
Jim Tomaney: ‘thrilled to have been selected’
A Scottish delegation will attend key fintech events in Austria and Switzerland next week hoping to replicate the volume of deals secured by companies on previous visits.
Trade missions to Switzerland’s financial centre in Zurich have generated €45 million and with the sector in growth mode there is optimism that more business will be agreed.
The mission is led by the Department for International Trade and Stephen Ingledew, chief executive of Fintech Scotland, will be among the speakers at a two-day conference in Vienna and Zürich on 23 and 24 January.
Mr Ingledew, who recently celebrated a threefold increase in the number of fintech firms in Scotland over the past year, said: “I’m looking forward to the trade mission to Switzerland and Austria with some of Scotland’s leading fintech firms.
“Sharing examples of fintech innovation is an important part of building our global collaboration, attracting investment into Scotland and supporting Scottish fintech firms in finding new routes to market in Europe.”
Patrick Kunz, senior trade specialist at Scottish Development International, said: “We hope that this mission stimulates new business relationships amongst participants, resulting in job and wealth creation in Austria, Switzerland and Liechtenstein, and in the United Kingdom.”
Among the firms attending the event is Renovite Technologies which has grown its Fife team from four to 20 since 2016 and plans to add another ten employees. It will showcase its technology to an audience of bankers and venture capitalists.
Jim Tomaney, chief operating officer at Renovite, said: “Austria and Switzerland offer business opportunities any fintech would doubtless have a keen interest in given the high number of banks and other financial institutions based there.
“We are thrilled to have been selected as a delegate for the mission and look forward to showcasing how our work is enabling positive change using state-of-the-art cloud technology.
“It’s really a very positive sign that major financial organisations are now rising to the challenges and demands of an increasingly complex payments environment by looking to businesses that can offer the kind of agility and innovation they can’t source from traditional suppliers.”