FinTech Strategic Initiative

The FinTech Strategic Initiative seeks to promote, encourage and deepen the understanding of Scotland’s FinTech capability for the benefit of Scottish financial services, the wider economy and our members.

The initiative is being driven forward by The FinTech Steering Committee which is chaired by Louise Smith of Royal Bank of Scotland.  Louise is also a Director of SFE and one of Scotland’s two FinTech Envoys.  Through the Steering Committee, SFE brings together Governments, City Councils, Universities, Scottish Enterprise, Skills Development Scotland and our existing FinTech companies, in a national collaboration to support and develop FinTech in Scotland.

There are four current work streams led by SFE members:

  • Global Awareness, Promotion and Marketing: John McGuigan of Standard Life/ SFE Board
  • Securing Talent: Colin Halpin of HSBC/SFE Board
  • Infrastructure: Kent Mackenzie of Deloitte
  • Finance: Oliver Henderson of EY

The FinTech Strategic Initiative and its projects, currently extend into 2020.  Early success includes; supporting the creation of the ESpark FinTech accelerator at Royal Bank of Scotland’s headquarters in Edinburgh and securing the appointment of David Ferguson, CEO of Nucleus, and Louise Smith, as HM Treasury’s two FinTech Envoys for Scotland. In September 2017, the FinTech Scotland website was launched to promote the Scottish FinTech eco-system.

Fintech Scotland

The work of the FinTech Strategic Initiative is reported into the Financial Services Advisory Board (FiSAB) which is chaired by the First Minister and has SFE Chairman Jim Pettigrew as its Deputy Chair.   In January 2017 a group chaired by the Scottish Government’s Minister for Business, Innovation and Energy, Paul Wheelhouse, was formed to help speed up and support the delivery of physical FinTech hubs in Scotland.

SFE Members wishing more information or to get involved in the FinTech Strategic Initiative should contact Graeme Jones at SFE gjones@sfe.org.uk