Where next for fintech in Scotland?
Edinburgh conference will explore fintech innovation and Scotland's place in a changing global landscape.
Financial technology continues to grow, offering commercial opportunities and making an impact across society and the global economy.
Cities across the world are competing to establish themselves as leading fintech hubs.
But where does Scotland fit into this global landscape?
Edinburgh's FinTech 2017 Summit will explore this theme during two days of discussion, keynote speeches and networking opportunities.
Fintech's growth has driven disruption and democratisation, opening the market to new entrants and encouraging innovation across the financial services sector.
The summit, now in its fourth year, is Scotland's largest financial technology conference.
It offers the chance to explore explore innovation across the financial services sectors, from established companies to the start-up communities bringing disruptive technology to the sector.
On the agenda at FinTech 2017
The FinTech 2017 summit will explore critical issues facing the industry, including:
- Landscape: Social, geo-political and financial
- Regulation: GDPR, PSD2, open banking & APIs
- Customer strategy: UX, data insight, marketing & ML
- Emerging tech: Blockchain, analytics, AI & payments
- National strategy: Skills, funding, collaboration and cyber security
- Infrastructure: IT, digital, cloud and mobile
Ray Bugg, founder of summit organisers DIGIT, said:
"We started FinTech four years ago as a one-day programme, when the sector was still emerging because we could see the potential for disruption and growth on a global scale. Since then demand has grown enormously and the sheer scale of the market has taken many by surprise.
"We’ve doubled the size of this year’s event and created an even more diverse programme of topics and speakers because fintech is without a doubt one of the most dynamic and challenging areas in both the financial and technology worlds."
Explore FinTech 2017 on the DIGIT website
Looking to the fintech future
Speakers at the summit will include Mike Allan, director of operations at at LendingCrowd - the only peer-to-peer lender with headquarters in Scotland.
Discussing the future of finance with DIGIT, Mike gave his impressions of future trends for financial sectors:
"I think there is definitely a mutually beneficial relationship that can be created between a small fintech and an incumbent bank, and in various areas we will see that happening. The banks continue to be on a simplification agenda, they are looking to reduce the number of products they have available and streamline their operations.
"And this may fuel a rise in referrals from banks to other organisations which will create opportunities in areas where the banks themselves don’t operate. I think we will see the new entrants targeting these niche areas specifically and specialising their services accordingly.
"There will also be a considerable element of acquisition, where the banks will swallow up successful companies to take on their products and customer base. In some circumstances they might incorporate that into their main business and product line, in others they may want to keep that running separately as its own agile business brand.
"But I do think there will still be a big element of competition, the banks will fight back against the new fintech entrants and create products in areas where they want to have a presence in that particular market – so there will be competition as well."
Read Mike's full interview on the DIGIT website
Meet Scotland's fintech sector
FinTech 2017 will be held in Edinburgh on 27 and 28 September.
Registration is free if you work in the financial services or fintech sectors. Book now on the FinTech 2017.