David Ferguson of Nucleus, and Louise Smith, head of design in personal and business banking at the Royal Bank of Scotland will follow up the work that has been carried out by the Scottish Financial Enterprise (SFE) in developing the Scottish FinTech sector.
After London, Scotland is the largest market for financial services in the UK, with the sector contributing 7% of Scotland’s GDP and generating employment for some 85,000 people.
Across the UK, FinTech companies employ 60,000 people and generate around £6.6bn to the UK economy according to a report produced by EY.
With Edinburgh having the second largest financial services sector in the UK after London, it naturally makes sense for young FinTech companies to base themselves in the Scottish Capital.
The announcement was made on a visit to Edinburgh by Simon Kirby, the economic secretary to the treasury.
Commenting on the new appointments, SFE chief Graeme Jones says
“There is huge potential for growth in Scotland’s FinTech sector and a number of exciting developments taking place. David and Louise work at the heart of FinTech in Scotland and have the expertise, drive and commitment to provide leadership and make the connections needed for the development of the sector throughout the UK.”
Read the full article on FinExtra below:
The UK Government is appointing two fintech envoys to help Scotland realise the benefits of the boom in financial technology innovation. The appointment of David Ferguson, CEO of Nucleus, and Louise Smith, head of design in personal and business banking at the Royal Bank of Scotland, was announced by Simon Kirby, the economic secretary to the treasury on a visit to Edinburgh.
Founded in 2011 by entrepreneurs Roger Carson and Wayne Johnson, and operating from the UK, Encompass Corporation is the creator of unique, innovative KYC software for banking, finance, legal and accountancy that enable better, faster commercial decisions. The company is driven by the belief that the best decisions are made when people understand the full picture.
Want to turn regulation compliance in to a competitive advantage?
Contact us today to arrange your personalised demonstration of Encompass. Discover how our KYC automation software can help your business accelerate onboarding and give you peace of mind that you are regulator ready.