Edinburgh Innovations has played a key role in the creation of FinTech Scotland, a new body to boost growth in Scotland’s financial technology sector.

FinTech Scotland aims to promote sustainable economic growth through innovation, collaboration and inclusion. The partnership involves the Scottish Government, the private sector and the University of Edinburgh.

Chief Executive appointed

Paul Wheelhouse MSP, Minister for Business, Innovation and Energy, announced the appointment of Stephen Ingledew as FinTech Scotland’s Chief Executive Officer on 11 January 2018. Ingledew, who has previously worked for Standard Life and is a non-executive director of Marketing Edinburgh, is an influential advocate of making financial services more open and creative. He and his team will initially be hosted by Edinburgh Innovations.

Wheelhouse said: “I warmly welcome Stephen Ingledew’s appointment as Chief Executive Officer, as this is a very significant milestone in the establishment of FinTech Scotland. Stephen will play a crucial role in cementing Scotland’s position as a world-leader in FinTech, building on our established strengths in both financial services and technology.”

Dr George Baxter, Chief Executive Officer of Edinburgh Innovations, said: “I’m delighted by Stephen’s appointment. We’re proud to play a role in the establishment of FinTech Scotland as we pursue the University of Edinburgh’s ongoing strategic commitment to the delivery of skills and talent in this sector.”

Driving growth

A focus for the FinTech Scotland team will be to bring together drivers for the sector to grow. These include the ideas of entrepreneurs and innovators, the resources of the financial sector and the economic and social objectives of the public sector. It will also draw on the innovation environment of accelerators and incubators as well as research and development from the University of Edinburgh and the other Scottish universities.

The work of FinTech Scotland will be closely aligned with the University’s Edinburgh Futures Institute and the Edinburgh and South East Scotland City Region Deal, both of which have a focus on developing the fintech sector.

Funding will include contributions from the Scottish Government, Scottish Enterprise, the University of Edinburgh, and private sector companies.

Photograph

FinTech Scotland CEO Stephen Ingledew, left, with Business, Innovation and Energy Minister Paul Wheelhouse MSP.

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