Cyber specialist creates jobs
Hong Kong firm PolyDigi adds to overseas fintech cluster
Stephen Ingledew: ‘we are reinventing the financial world’ (pic: Terry Murden)
A Hong Kong fintech company specialising in cyber security is to commercialise its products in Edinburgh, creating 16 jobs.
PolyDigi Tech will establish a technology hub in Edinburgh after it received a £200,000 Regional Selective Assistance (RSA) award from Scottish Enterprise.
It adds to Scotland’s burgeoning fintech sector which is now home to more than 100 SMEs, many of whom have arrived from overseas.
Digital Economy Minister Kate Forbes said: “The Scottish Government is doing everything possible to help Scotland realise its full potential in an increasingly digital world. That means investing in digital skills, infrastructure and technology.
“This is an exciting time for our Fintech sector, after it recently gained accreditation as a European Cluster of Excellence.”
PolyDigi Tech focuses on cyber security, with an emphasis on authentication and authorisation of access to networks. The company has developed technology in the field of mobile network authentication and utilising telecommunication technology for network access, ensuring that access is only granted to those with the necessary authentication.
The company’s new technology hub in Edinburgh will provide the capacity for expected future growth and support the continued development of its existing products.
Monika Ohashi, chief information officer at PolyDigi Tech, said: “We look forward to collaborating with various technologies to make Scotland the Global Authentication Base.”
Scottish Enterprise worked in partnership with FinTech Scotland to attract PolyDigi Tech to Scotland. FinTech Scotland develops and enables collaborative innovation across the fintech ecosystem by facilitating and encouraging connections between key stakeholders.
As part of its second anniversary celebrations last month, FinTech Scotland announced that the number of fintech SMEs based in the country had grown by more than 60% over the past year.
The FinTech Scotland community of firms reinventing the financial world in many areas is fast growingStephen Ingledew, FinTech Scotland
It is estimated that there are now 119 fintech SMEs operating in Scotland.
FinTech Scotland’s CEO, Stephen Ingledew, added: “It is wonderful to welcome the innovative PolyDigi team to the fintech community and we are delighted to be working with them as they make Scotland their home to develop their exciting proposition.
“The FinTech Scotland community of firms reinventing the financial world in many areas is fast growing and PolyDigi is a further example of the dynamic and diverse range of entrepreneurs and fintech leaders who are embracing Scotland’s inclusive and collaborative environment to develop new opportunities”