FinTech Scotland has appointed David Ferguson as the first chair of the board and confirmed a number of global strategic partners.
The appointments were confirmed this week at the joint Scottish Government and industry Financial Services Advisory Board (FiSAB) meeting chaired by the First Minister, Nicola Sturgeon and Chair of Scottish Financial Enterprise and CYBG, Jim Pettigrew.
At the FiSAB meeting Chief Executive Stephen Ingledew set out FinTech Scotland’s ambitious vision and strategy to make Scotland a top five global fintech centre by 2020 that is recognised for data driven fintech innovation delivering positive social outcomes.
FinTech Scotland aims to encourage data driven innovation and collaboration activity across Scotland to deliver inclusive growth and achieve critical mass in the sector by:
- Facilitating an integrated and innovative fintech ecosystem
- Supporting innovative and entrepreneurial purpose driven fintech enterprises
- Encouraging development of fintech skills, diversity and inclusion
- Developing fintech community engagement, inclusion and collaboration
- Building international fintech engagement and collaboration
To deliver a range of initiatives, FinTech Scotland has partnered with global enterprises who have a strong presence in Scotland as well as being significant international leaders in their fields:
- Deloitte: the market leading professional services firm providing global expertise to help drive fintech growth in Scotland and international hubs across the world
- Pinsent Masons: the lawyers recognised as a global legal leader in fintech and Open Banking
- Dentsu Aegis Network: one of the largest and most respected international digital media and marketing agencies
- Sopra Steria: a major global digital transformation organisation with a proven reputation for software, solutions and delivery.
On confirming the strategic partners, Stephen Ingledew said, “It is a privilege to be working with such world-renowned organisations who are committed to supporting Scotland’s fintech economy. Following many conversations with a range of large firms over recent months, these strategic partners demonstrated their commitment and market leadership which will support our aspirations and plans. We are currently in discussions with a view to confirming additional strategic partners in the coming weeks”
David Ferguson, the founder and Chief Executive of Edinburgh based fintech business, Nucleus Financial, has been appointed to chair the board. Ferguson was appointed by The Treasury in December 2016 as one of two regional fintech envoys for Scotland with a remit for building regional and national networks which seek to ensure a greater level of co-ordination and collaboration between fintech companies, government, investors and regional fintech hubs.
Stephen Ingledew commented: “It was essential for us to have a highly respected fintech leader chairing our board and David, who has built one of the most successful businesses in the country managing over £14 billion on their wrap platform, ticked all the boxes and more.”
Speaking about his appointment, David Ferguson added: “It is a great privilege to have been appointed as chair of the FinTech Scotland board. Fintech is a fantastic opportunity for Scotland and I am excited to build on the great strides we have recently made to position ourselves as a global leader. The country should have a bright and prosperous fintech future ahead of it and I am greatly looking forward to helping Stephen and the team drive the sector forward and deliver meaningful action to help both start-ups to flourish and the more substantial financial services establishments to modernise.”
The strategic partners are joining David Ferguson, Scottish Enterprise and Edinburgh University on FinTech Scotland’s board. Additional board members will be announced soon which will include representatives from Scotland’s fintech community.