Industry celebrates success at 2025 Scottish Financial Services Awards
The 2025 Scottish Financial Services Awards, sponsored by EY, took place in Edinburgh yesterday evening, celebrating the contribution of firms and individuals to Scotland’s world class finance industry over the past year.
Among the winners were both global and Scottish businesses including Scottish Widows, BlackRock, Aberdeen and the Scottish National Investment Bank. And a highly competitive field saw the Rising Star Award shared for the first time.
The awards broke down into eight categories, with winners reflecting the sector’s ambitions for sustainable, inclusive growth and to have a positive impact on society. The full list of winners below.
Sandy Begbie CBE, CEO of Scottish Financial Enterprise, said: “As with every year the standard of entries has been exceptionally high and has showcased just how important the financial and professional services sector is to Scotland. I would like to take the time to thank all those who entered nominations this year, and a special commendation to our finalists who stood out despite such a stacked number of entries this year.
Sue Dawe, EY Scotland Country Managing Partner and chair of Scottish Financial Enterprise said: “Every year I am stunned by the high standard of talent and the cutting-edge, world-leading projects that are designed, developed and driven forward in Scotland.
“Particularly inspiring are the many initiatives delivering profound social impact – addressing pension poverty, making life events easier for vulnerable customers, reaching underserved communities – not to mention the social mobility programmes that are tackling social exclusion, disadvantage and deprivation. Winners, nominees and our wider sector should be proud of all these achievements.”
Rising Star Award
This year’s Rising Star category was fiercely competitive, showcasing the next generation of talent. The judges decided that the competition was too close to call so announced joint winners of Rachel Kennedy of Synechron, and Rose Ulldemolins of Lloyds Banking Group.
Changing Customer Needs Award
Royal Bank of Scotland won the Changing Customer Needs Award for its Financial Foundations programme, which provides free, impartial money guidance to adults. Expanding in response to the cost-of-living crisis, the programme aims to reach 52,000 people by 2025 through in-person workshops delivered by 750 trained colleagues in communities, workplaces, and educational institutions. To date, the programme has reached over 16,000 adults, with 91% of participants recommending the workshops and 88% reporting increased confidence in managing their finances.
Net Zero Award
Scottish National Investment Bank won for the Net Zero Award for its role in enabling a just transition to net zero through mission-led impact investment, ecosystem management and it unique connecting role between private and public sector. The bank has committed £200 million across seven opportunities, crowding in significant private capital for critical infrastructure (like ports) and supply chain technology to enable a just net zero transition.
Skills and Inclusion Award
The winner of the Skills and Inclusion Award was Aberdeen, who had two strong nominations for this category but one for their work on "Rite to Work" partnership with Working Rite. This collaboration supports 57 disengaged young people in Scotland to transition from school to work, achieving an 81% attendance rate and a 91% move into positive destinations like employment or training.
Innovation Award
Scottish Widows were the winners of our Award, taking the prize in recognition of its Pension Mirror—an AI tool—used vanity and peer comparison to combat pension apathy. This innovation sparked over 750,000 interactions and resulted in a 193% uplift in app registrations, proving highly effective at engaging people with their financial futures.
Business Growth Award
BlackRock rapid expansion including £60 million of investment in a new Edinburgh office, creating 400 skilled jobs in technology and AI. This expansion strengthens the Scottish economy, fosters local talent through apprenticeships and university links, and highlights BlackRock's active role as an investor in Scottish infrastructure and renewable projects.
Judges’ Award
With impressive Year on year growth impressive and 175 years of history SFE awarded the Scottish Building Society the judges award for its ongoing commitment to supporting the communities in which it operates. The continued leadership of its Paul Denton, CEO of the Society promises more exciting developments ahead.
Chair’s Award
The Chair’s Award is given based on a nominee’s achievements across all categories and demonstrates our sectors positive impact on society and this year it has gone to Lloyds Banking Group. They have been a standout example of Scottish-based innovation projects in financial services delivering measurable impact through strategic use of data and AI emerging tech and behavioural science.