BUSINESS advisory firm Deloitte has partnered with Fintech Scotland, the body representing Scotland’s financial technology community, to help to drive the sector’s growth across the country and internationally.
The firm has been appointed as Fintech Scotland’s global professional services partner and plans to use its experience and connections to improve the country’s reputation and expertise in the fintech landscape.
Scotland’s fintech sector has attracted nearly £37m of investment in the last decade, according to recent Scottish government figures.
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Kent Mackenzie, director and head of fintech at Deloitte in Edinburgh, said the firm has immersed itself in fintech since late 2015, looking at what it means for financial services and how Scotland can continue to establish itself as a leading global voice in the sector.
“For several years we have worked hard to develop a comprehensive understanding of the opportunities and challenges for all who operating in the sector, both in a domestic and global context, and through doing so determine a strategy that can see Scotland emerge as a leader in the global market and become an influential voice,” Mackenzie added.
In 2016, Deloitte was commissioned by the Scottish government and Scottish Enterprise to conduct a scoping review of the fintech sector and organise a series of consultations with the fintech ecosystem.
This led to the development of an industry-led strategy and detailed business plan for Scotland, which led to the country being recognised in the top 15 centres for fintech growth in the Global Fintech Hub Federation Report.
Stephen Ingledew, chief executive of Fintech Scotland, said Deloitte’s breadth of professional services expertise will play a valuable role in achieving the association’s ambitions.
“Furthermore, Deloitte’s respected global leadership role with the established and emerging fintech hubs around the world will play a crucial role in developing our international collaboration opportunities going forward,” he added.