International law firm Pinsent Masons has been appointed as a global strategic partner to FinTech Scotland and will sit on the board of the fintech sector enabler.
Established by the Scottish Government, the financial services sector and the University of Edinburgh, FinTech Scotland will formulate a national strategy and deliver initiatives which put Scotland in prime position to leverage the economic and social benefits of data-driven fintech innovation.
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Pinsent Masons recently released a report on Open Banking, one of the most exciting developments in financial services for years, with the potential to revolutionise how consumers engage with financial products and services.
Pinsent Masons partner and financial services technology specialist, Yvonne Dunn, said that to date London has been the pre-eminent location for fintech in the UK (and the world), but the race is on to increase fintech presence outside of London.
She said: “Scotland has a lot to offer fintech based on the large financial services institutions already established here, our general culture of entrepreneurism and the strength of our universities sending top-rated computer science graduates into the market.
“Fintech is disrupting global markets, it is a growth industry with massive potential, and it is an emerging sector in which Scotland has an opportunity to play a key role. Pinsent Masons is delighted to be appointed as a Strategic Partner to Fintech Scotland. We are looking forward to deploying our skills and experience to help develop a strategy which creates fantastic job opportunities, generates growth and attracts the brightest talent the sector has to offer.”
Other strategic partners announced by FinTech Scotland chief executive, Stephen Ingledew, include Deloitte, Dentsu Aegis Network and Sopra Steria. David Ferguson, the founder and chief executive officer of fintech success, Nucleus Financial, has been appointed to chair the FinTech Scotland board.
