FinTech Scotland gets Glasgow regulation lab funding

Fintech Scotland CEO Nicola Anderson

FinTech Scotland announced it has secured UK Government funding “to accelerate innovation in Scotland’s fintech cluster” and “advance research and innovation in financial regulation.”

FinTech Scotland said: “The FinTech Scotland initiative in partnership with industry partners, and with Strathclyde and Glasgow universities, includes the creation of a new collaborative centre of excellence, called The Financial Regulation Innovation Lab.

“The ground-breaking collaborative Lab will focus on leveraging new technologies to accelerate efficiencies, revolutionise risk management and shape future regulatory developments, accelerating the UK’s ability to seize competitive advantage in the future of financial regulation and fintech innovation.

“The new funding is part of a broader successful bid by Glasgow City Region included in the UK Government’s initiative to accelerate the growth of ‘high-potential innovation clusters’ in Glasgow, Greater Manchester, and the West Midlands.

“All of the projects in the Innovation Accelerator Programme will commence in the Spring, following Innovate UK’s normal diligence.

“The funding allocation to fintech in Glasgow demonstrates the national commitment to drive fintech innovation across the UK.”

FinTech Scotland CEO Nicola Anderson said: “I am delighted to see the commitment and recognition from the UK Government in the high-growth potential of fintech innovation in Glasgow.

“The Innovation Accelerator funding will help push this forward.

“The Financial Regulation Innovation Lab is a ground-breaking initiative. It brings together, industry partners, fintech entrepreneurs, universities, and regulators to revolutionise the future of financial regulation and risk management through technology and data.

“The outcomes will shape jobs for the future and propel our fintech ambition, here in Scotland and across the UK.”