FinTech continues to grow in Scotland with 235 fintech firms now working in Scotland, a 23% increase in the last three years. These businesses continue to attract investment with a 26% increase 2024.

Edinburgh has long had an established fintech foothold. The fintech ward at the EFI further advances the opportunity for accelerated growth. The facilities connect business and the latest research and interdisciplinary innovations.

Business Minister Richard Lochhead said: “Scotland has a long and rich history in financial services, and is now a leading player in cutting edge fintech - a strategically important sector in the 21st century, playing a key role in securing economic growth and jobs.

“The opening of the Fintech Ward at EFI and the launch of the FinTech Scotland Festival are clear signals of our continuing leadership in fintech innovation, further strengthening Scotland’s position as a global fintech hub.”

The evening, brought together key players from the Scottish Fintech cluster, including representatives from established financial institutions, fintech startups, academics, and leading industry figures.

Nicola Anderson, CEO of FinTech Scotland, emphasised the importance of the festival, noting: “This year’s festival will showcase Scotland’s vibrant fintech ecosystem and facilitate meaningful connections between innovators, financial firms, academics, and international stakeholders around the key priority areas detailed in the UK Fintech Research and Innovation Roadmap that we first published in 2022.”

Kev Dhaliwal, interim director of EFI, added: “The Edinburgh Futures Institute was created to drive collaboration across disciplines, sectors, and industries, providing a space where ideas can flourish, and innovations can thrive.

“EFI is not only a home for fintech but also for education, data science, culture, and public policy. It offers a cross-sectorial approach to addressing the complex challenges of the future.

The FinTech Scotland Festival 2024, running between the 25 September and 4 October, will feature a series of events aimed at highlighting cutting-edge fintech innovations, and driving forward the fintech cluster in Scotland and the fintech movement around the globe. The festival will bring together local and international thought leaders, businesses, and innovators to explore the latest trends, technologies, and opportunities in payment, financial regulation, Open Finance and Climate.