FinTech

What is Fintech?

Financial technology is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.

The term encompasses a rapidly growing industry that serves the interests of both consumers and businesses in multiple ways. From mobile banking and insurance to cryptocurrency and investment apps, fintech has a seemingly endless array of applications.

Global Market

$324

Billion market by 2026

25%

annual compound rate growth

$40

billion value of fintech investments this quarte

Why Glasgow?

Glasgow is the UK’s third largest financial centre and ranks 65th globally.

Glasgow is no 1 of the UK’s 10 core cities for producing the highest number of Financial and Business and Tech graduates.

More than a quarter of Glasgow’s top 100 innovative technology firms are in Financial & Business Services, the highest proportion among the UK core cities.

Infrastructure

Glasgow has a world leading financial services sector and FinTech will play a major role in the future success and sustainability of the International Financial Services District, which has already attracted £1 billion investment, and the Glasgow City Innovation District. FinTech is an important industry for Glasgow with analysis by Strathclyde Business School suggesting that rapid adoption may lead to uplifts of 15,000 new jobs and £1.1 billion GVA for Scotland and the city.

The University of Strathclyde, which has a strategic partnership with FinTech Scotland, was the first in the UK to launch a Masters in Fintech course in 2017 and the university proved to be a global pioneer in the subject. The initiative won the Centre for Financial Regulation and Innovation (CeFRI), the People Make Glasgow Educational award.

Our Fintech Ecosystem

Since its inception, Glasgow’s fintech ecosystem has grown to over 50 firms including XX, XX, & XX. Our financial and business sector specialisms centre on asset management, investment operations, general insurance, shared services, business process outsourcing and legal services, and it is here that fintech companies are offering innovative alternatives to a range of traditional services.

Glasgow’s fintech community are innovating in key areas including banking, payment processing, and lending, by offering streamlined, user-focused products and services.  

Many large financial firms have also established themselves in Glasgow including JP Morgan, Barclays, BNP Paribas, Morgan Stanley, Santander, Virgin Money, AXA and Zurich Insurance.