Scottish Fintech sector showcased for leading Canadian companies

Edinburgh, Scottish Capital

REPRESENTATIVES of leading fintech firms in Canada arrived in Scotland yesterday as part of a UK-wide trade mission. 

Twelve Canadian business chiefs will engage with senior stakeholders over the next two days, ranging from Scottish Government ministers to industry leaders, to learn more about Scotland’s burgeoning fintech sector.

The Scotland trip is part of a one-week fintech mission to the UK organised by Scottish Development International and the Department for International Trade, supported by British Airways and the Bank of Montreal.

Mark Hallan, Director of Global Investment at Scottish Enterprise, said: “We are delighted to welcome these Canadian companies and showcase Scotland as an innovative, collaborative fintech centre.

“Scotland has ambitions to become a top five global fintech centre by 2020.  We have an incredibly exciting fintech ecosystem, with more than 100 companies now operating in financial services across our cities and towns.

“Attracting overseas fintech firms to Scotland is a priority for Scottish Enterprise and our partners, with many companies growing their international presence here.  These companies have advised us that access to talent, a thriving fintech scene and governmental support have been the reasons for locating in Scotland.

“Scotland already has a strong economic partnership with Canada, with around 40 Canadian-owned businesses in Scotland employing more than 3,700 people.  We look forward to enhancing that relationship further as part of this fintech delegation.”     

Scotland’s fintech ecosystem continues to grow in prominence, with more than 100 companies now operating in financial services across the country. 

In 2019, there has been 13 start-up fintech companies formed in Scotland, with ten overseas fintech firms setting up a base in Scotland over the past 18 months.

Scottish Enterprise works in partnership with FinTech Scotland to attract overseas financial companies to Scotland.  FinTech Scotland develops and enables collaborative innovation across the fintech ecosystem by facilitating and encouraging connections between key stakeholders.

FinTech Scotland’s CEO, Stephen Ingledew, added: “This week’s engagement with fintech leaders from Canada is a further example of how Scotland’s community is playing a leading role with the global fintech movement and embracing the opportunity to collaborate with international entrepreneurs.

“We are looking forward to sharing examples of how Scotland is developing its world class reputation for fintech innovation by bringing together innovative enterprises, the established financial services sector, globally renowned universities and a very supportive public sector to deliver inclusive growth which benefits consumers and business” Approximately 161,000 people in Scotland are employed in financial and related professional services, with the growth of Scottish financial services industry recently outstripping London.

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