New board created

Digital economy drives surge in fintech companies

Nicola Anderson

Nicola Anderson: there is a talented cluster (pic: Terry Murden)

The number of fintech companies setting up operations in Scotland has surged by more than half over the last 18 months as the pandemic has accelerated the shift to a digital economy.

The fintech community north of the board has risen from 119 in March 2020 to 181, including a number from around the world.

Their growth has helped fuel, and respond to, companies and consumers turning increasingly to ecommerce channels for distribution and sales.

In particular, financial technology firms have created the software packages that change the way companies such as banks and retailers interact with customers.

They have been behind advances in the development of, and access to, products and services and identification technology.

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To help keep up the momentum, Fintech Scotland has announced a new entrepreneurial advisory board to ensure the necessary support is in place.

The Advisory Board includes a diverse range of founders and leaders; Jude Cook (ShareIn), James Varga (DirectID), Loral Quinn (Sustainably), Anthony Rafferty (Origo), Pardeep Cassells (AccessFintech), Andrew Duncan (Soar), Andrew Veitch (EedenBull), Stuart Lunn (LendingCrowd) and Russell Jaques (Fin-Q).

Stephen Ingledew, executive chairman at FinTech Scotland and chairman of the Fintech Advisory Board, said: “There is growing recognition of the valuable role fintech in contributing to the digital economy.

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