Growth in Scottish Fintech Firms Over Past 12 Months

According to the new figures, there’s been a 27% increase in the number of Scottish fintech firms over the past 12 months. 

There are 190 fintech small and medium enterprises, which was only 147, says fintech Scotland- the cluster management organization for the sector. 

As we all know how technology is helping humans in every possible field, the organization celebrates its fourth anniversary and says that the number has hiked from 26 in its first year of operations. 

Also Read: Almost 50% of the finance firms will acquire or partner fintech in the following year

As the economy moves toward the digital economy and demand for innovative solutions has led to the adoption of new products and services. 

Last week, according to reports, investment in fintech firms in the UK hiked by more than 200% in 2021 compared to the previous year. 

Global technology, professional services, academia, public sector and collaboration with 30 strategic partners have strengthened Scotland fintech. It led to fintech success in the growing number of business partnerships between big financial institutions and Scotland’s fintech. 

Also Read: Fintech Innovation substitute Personal Finance Dynamics in India

Executive chairman of fintech Scotland, Stephen Ingledew, says that “he would like to tribute to his fintech Scotland colleagues for the drive, relentless endeavour, creativity and leadership over the years “, he continues that he’s proud of the progress and recognition of the company across the UK and he’s looking forward to continuing the collaboration with fintech SMEs.

“Our fintech Scotland journey will make a further leap forward this year when we unveil our ten-year fintech research and innovation report, an industry-led roadmap which will set out a framework to shape the future of financial services and the fintech in the digital economy”, says Nicola Anderson, chief executive of fintech Scotland. 

Also Read: The rising significance of Fintech innovation in the new age
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