FinTech Scotland

Looking forward to the partnership with KPMG UK as we look to foster innovation, accelerate growth, and drive technology adoption within the Scottish financial technology sector. Together, we aim to create impactful opportunities for fintech startups and established firms to thrive in a rapidly evolving digital landscape. This collaboration will also support initiatives to enhance Scotland’s position as a global fintech leader, promoting collaboration across key industry players. We’re excited to explore new ideas and deliver value to our thriving fintech community. Ann Devine & Nicola Anderson https://lnkd.in/e_ykGJMS #collaboration #AI #Openfinance

New episode for the Financial Regulation Innovation Lab innovation Call for Consumer Duty. We’re diving into the Consumer Duty Regulation in collaboration with SuperTech WM and the opportunities that outcomes-based regulation opens for innovative solutions that can enable financial services to maximise positive outcomes for all customers and in turn create economic and social growth. The Financial Regulation Innovation Lab has launched its third innovation challenge focusing on that topic with 14 financial services partners ranging from banks, building societies and credit unions. NatWest have been a keen supporter of this challenge seeing to harness the brightest ideas in fintech and to bring industry together on this key topic. Today, we'll explore what this means for financial services organisations, for the millions of people across the country who are customers of Financial Services firms and how innovation and ambitious fintechs are already making a difference. With: Will Kerr, Head of Customer Outcomes Samantha Brand, Customer Lead Innovation & Partnerships

We are delighted to welcome the Anhui Local Financial Regulatory Administration at Edinburgh Futures Institute to introduce the Scottish fintech cluster to a large delegation from China. Nicola Anderson #cluster #collaboration #fintech #scotland #china

Financial crime and fraud are critical challenges impacting financial services in Scotland and across the UK. To tackle these issues, collaboration and innovation are key. That’s why the Financial Regulation Innovation Lab (FRIL) has launched an Innovation Call seeking organisations with creative solutions to address financial crime and fraud. FRIL’s innovation programme is driven by challenge statements from leaders across the financial, telecommunications, and technology sectors. Together, we aim to uncover cutting-edge approaches to combating these complex threats. Check out our collab podcast episode, featuring insights from BT Group, Virgin Money, and FinTech Scotland. This episode dives deep into the implications of fraud and practical strategies to address it. Join Our Live Q&A Sessions! Before applying, learn more about the programme and challenge statements during one of our upcoming sessions: 27 November - https://lnkd.in/eFVhm-B9.. Watch the full Podcast video here: https://lnkd.in/e3TBWHF3

Congratulations to Scottish fintech GiftRound for being named the Innovation Entrepreneur of the Year at the prestigious 2024 Great British Entrepreneur Awards (GBEA)! This recognition highlights GiftRound’s remarkable contributions to revolutionising the group gifting market, making the process more inclusive, efficient, and seamless. The success of GiftRound exemplifies the power of innovation and entrepreneurship in uplifting communities and transforming industries. FinTech Scotland is incredibly proud of GiftRound’s achievement and the positive impact they’re making. We look forward to seeing their continued success and innovation! https://lnkd.in/e3WrCFr4

FinTech Scotland and BT Group Launches the first podcast episode in cohorts of the Financial Regulation Innovation Lab innovation call for Financial Crime on Contextualising Fraud in 'The Landscape of Financial fraud in the UK.' Join host Charlotte Moir from BT Group speak to the experts on how to understand the financial crime landscape, approach fraud prevention, collaborate between industries and how to stay ahead of evolving threads with guest Lauren Cassells from FinTech Scotland, Paddy O'Keefe from Virgin Money and @Brian Webb from BT Group. Out now: https://lnkd.in/eHKVHSyk Applications are open for the Innovation Call for Financial Crime are open: https://lnkd.in/eg6SgMT5 #spotify #fincrime #Consumerdivision

Great to see the collaboration between Lloyds Banking Group and Data analytics fintech Inbestai and tackling how consumers can bridge the gap in unclaimed money from the council tax and universal credit. FinTech Scotland supports collaborations like this to highlight the power of #partnerships between established financial institutions and fintech innovators. 'By joining forces, Lloyds Banking Group and Inbest are leveraging technology to deliver impactful financial solutions for everyday consumers.' Find out how you can receive help: https://lnkd.in/evXp_H-d #fintech #collaboration #consumerduty

CEO Nicola Anderson and Research and Innovation Programmes Manager Lauren Cassells showcased the ongoing efforts of FinTech Scotland in addressing financial crime at the Financial Conduct Authority's London office today. Their presentation highlighted the Innovation to Address Financial Crime initiative as part of the 4th Innovation Call for #FinCrime. This initiative continues to drive collaboration across the fintech ecosystem, fostering innovative solutions to tackle critical challenges in the financial services sector. We’re proud to see the strides being made to enhance the industry’s approach to combating financial crime through innovation and partnership. Find out more and apply: https://lnkd.in/eg6SgMT5 #womeninbankingandfinance #fintech

As part of International Fraud Awareness Week, FinTech Scotland is delighted to be launching the innovation to address financial crime programme at the Financial Conduct Authority in partnership with SuperTech WM and Greater Manchester Combined Authority We're delighted to be working with BT Group , Morgan Stanley, abrdn, HSBC, Lloyds Banking Group, TSB Bank, Virgin Money, Barclays UK, Equifax, Fujitsu and Dudley Building Society on this very important topic. Financial crime poses a significant threat to global stability, but innovation can be the game-changer. We’re inviting forward-thinking entrepreneurs to bring new ideas to our Financial Regulation Innovation Lab.  What’s in it for you? • Collaborate with industry leaders • Access cutting-edge research from University of Glasgow Adam Smith Business School University of Strathclyde Aston University and Birmingham City University • Tackle real-world challenges in areas like fraud detection, risk management, and compliance. More information here: https://lnkd.in/ev3GDBS7 Apply today: https://lnkd.in/eg6SgMT5 #InnovationLab #FinancialCrime #Collaboration #RegTech #FRIL

Congratulations to the Financial Regulation Innovation Lab (FRIL) team on the release of the white paper report addressing the rising threat of AI-driven financial crime. The white paper report highlights how advancements in AI, economic uncertainty, and the digitisation of financial services have created new opportunities for advance attacks. The white paper report purposes a forward-thinking, end-to-end AI framework to combat these challenges, emphasising: 📌 AI-Driven Solutions: Harnessing #AI to analyse data patterns, assess transaction risks, and enhance fraud detection. 📌 Hybrid Approaches: Combining AI with rule-based systems for adaptable and transparent fraud prevention. 📌 Explainable AI (#XAI): Ensuring trust and compliance through transparent decision-making. 📌 Regulatory Support: Addressing fraud through frameworks like the UK’s PS23/3, PS22/9 Consumer Duty, and the EU’s AI Act. It underscores the importance of collaboration, regulation, and ethical AI in securing the financial landscape. Download the full White Paper report: https://lnkd.in/eZJEFtaz Trish Quinn University of Strathclyde Giovanna Cucchi Sopra Steria Mark Cummins Kaloyan (Kal) Bukovski Jonny Cooper Devraj Basu