Scottish Fintech Wins Award

Nucleus Financial Group is this year’s winner of the Scottish Financial Services Awards for leading the way in securing Scotland’s future standing as a centre of excellence in platform development and asset servicing; due to its highly innovative and customer focussed technology-based business model.

The successful FinTech, which was established in 2006 and now employs 180 people, is an independent firm linking advisors directly with clients to increase transparency surrounding their finances.

The Nucleus wrap platform allows financial advisors to combine clients’ investments into a single, manageable online account. The company now has £13bn funds under management and 90,000 customers across the UK.

The Edinburgh-based firm is heavily involved in supporting the SFE Scottish FinTech strategy; with its Founder and Chief Executive, David Ferguson, appointed one of two Scottish FinTech envoys by HM Treasury last year, to champion the sector locally and globally.

Entrants are judged on their contributions to Scotland's standing as a financial centre, their long-term perspectives, the benefits for customers and their innovation and imagination.

Over 600 guests attended last night’s dinner in Edinburgh where the inaugural Rising Star Award was also announced. Established this year to recognise a young professional for their personal success and contribution to the financial services industry, it was awarded to Victoria MacLean of Aberdeen Standard Investments.

The Equities Investment Manager joined ASI as a graduate in 2012 and quickly progressed through the ranks, while also being involved in internal and external leadership programmes and helping drive innovation at ASI. Victoria is a founding member of SFE Young Professionals and takes an interest in improving diversity in the industry.

Presenting the awards, Sue Dawe, EY Partner and Head of Financial Services in Scotland, said:

“Scotland is one of the world’s most exciting hubs for FinTech innovation and this year’s winner of the Scottish Financial Services Award, Nucleus, is a shining example of the world-class capabilities we offer in this field.

“Scotland’s enduring legacy as a leading financial centre will rely on our ability to successfully nurture the next generation of industry professionals. I am delighted this year we celebrate our first Rising Star Award winner who exemplifies all that is great about our industry today and is a symbol of the exciting future ahead for the sector.

“Congratulations to the winners and all of the finalists who make such a positive impact to our industry and our economy.”

David Ferguson, Nucleus Financial Founder and Chief Executive, said:

“We’re thrilled to collect this award and to achieve such great recognition from Scottish Financial Enterprise and the wider membership, especially against such a strong field. We’re very grateful to the judges for acknowledging our work and we look forward to celebrating with the amazing people who have made Nucleus what it is today.

“We created Nucleus to put the customer centre stage and £13bn later, our highly skilled and passionate team are still giving it their all to make this happen.  I’m immensely grateful for everyone who’s helped us get to this point, and particularly for the wisdom of our late chairman, Paul Bradshaw, who would have loved this award but sadly passed away in January. We’ve always had very big plans for Nucleus and I’m sure this award will help nudge us along a little bit faster.”

Jim Pettigrew, Scottish Financial Enterprise Chairman, said:

“Nucleus Financial are a thriving Scottish FinTech who have made a significant impact on the financial services landscape since they launched just over a decade ago. They are dedicated to helping the FinTech sector grow through innovation and are helping to ensure Scotland is a world-leader in our continuously evolving industry.

“Congratulations to everyone at Nucleus Financial on winning the Scottish Financial Services Award for 2017 and to Victoria MacLean of Aberdeen Standard Investments on receiving the first Rising Star Award.

“SFE has proudly represented our strong and varied financial services industry for 31 years and I would like to thank all our members for their valuable contribution to our industry.”

The other finalists for the Scottish Financial Services Award were:

Avaloq

For placing Edinburgh at the forefront of digital transformation projects and helping to establish a vibrant, innovative ecosystem by developing state-of-the-art mobile and web banking solutions for leading financial institutions worldwide.

Castlight

For the innovative FinTech company’s successful track record of providing financial retailers a range of digital tools to enhance the way they do business with their customers.

FreeAgent

For going from start-up to IPO in ten years. Based in Edinburgh, they are now one of the UK’s most successful FinTech companies.

HSBC Bank

For an outstanding performance which has seen delivery of significant sustainable growth for the Scottish economy and the financial services sector.

The other finalists for the Rising Star Award were:

Arman Eshraghi, Associate Professor of Finance & Accounting, University of Edinburgh

Arman is nominated for his active academic engagement with the finance sector, internationally reputable research excellence in finance and accounting, and extensive portfolio of executive education and consultancy.

Miro Gregorovic, Senior Information Technology Business Consultant, Sopra Steria

An inspiring advocate and trailblazer for FinTech, Miro’s enthusiasm and collaborative approach have empowered financial services organisations across Scotland to harness the transformative benefits of innovative technology.

Rory Marsh, Business Manager (CEO, Pensions & Savings), Standard Life Aberdeen

Rory is the driving force behind Scottish Financial Enterprise Young Professionals as its founding Chairman. Launched in 2016, they are actively involved in the work of SFE and have a growing membership and well-attended events.

NOTES

  1. The Scottish Financial Services Awards are run by Scottish Financial Enterprise, sponsored by EY and supported by The Scotsman. 
  2. Scottish Financial Enterprise is the representative body for Scotland's financial services industry, with members ranging from global companies headquartered in Scotland to small, locally-based support businesses. 
  3. Contact:  SFE Head of Communications, Bronwyn Torrie on 0131 247 7700 or btorrie@sfe.org.uk