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13 Scottish fintechs to watch

09 Jun 2020 • 5 minute read

Scotland's dynamic ecosystem of fintech firms has expertise in cyber security, artificial intelligence, blockchain and more.

The proliferation of technologies such as blockchain, artificial intelligence (AI) and open banking is revolutionising the finance industry. Scotland's experience in the financial services sector goes back centuries. We’re now building on that expertise and leading the way in fintech solutions.

A dynamic fintech Scotland ecosystem

Scotland is the most important UK financial centre outside London. We have a proven track record in servicing global markets. So, it’s little wonder that so many of the world’s most respected financial services companies have established their technology functions here in Scotland.

Around 150 fintech companies make up Scotland's dynamic ecosystem. We've got experts leading the way in cyber security, artificial intelligence, platforms, blockchain, personal finance and regtech.

Scotland's thriving startup community is servicing and supporting tech innovation across the financial, banking and insurance sectors, and is being continually enhanced with spinouts from our world-class universities. They're not only supporting and working with the large corporate banking, insurance and financial institutions, but also you, us and everybody in-between.

Scotland's fintech solutions

Our fintech companies are helping clients to:

  • Better understand their customer data
  • Reach more customers and increase inclusion in locations where traditional financial infrastructure is absent
  • Develop ways to improve customer experience
  • Manage finance transactions more efficiently and securely
  • Reduce costs

Learn how these innovative Scottish fintech companies are changing the way that customers, tech and finance interact.

Scotland's fast-growing fintechs

Providing solutions in over 30 countries around the world Direct ID work with financial institutions to make better use of customer data to help provide better services to customers whilst growing their business all through the use and understanding open banking.

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Based in Edinburgh and Dundee this company is transforming the world of wealth management services through the provision of platforms to major financial institutions in the financial services and wealth management sectors.

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ICEFLO is based in the Scottish Borders and provides support to help their customers to achieve complex technology cutovers successfully. They do this via their user-friendly cutover platform.

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Float is a visual, fast and flexible resource scheduling tool. It allows teams working in different parts of the world to keep up to date in real time on tasks and resources all on one reliable piece of software.

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Modulr is a digital platform which does away with the need for a normal bank for bank accounts and payments. The platform supports smooth payment flows whilst embedding and enabling the development of new payment products and services.

Find out why Modulr chose Edinburgh to expand its fintech operations 

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The platform that Wallet.Services have developed removes the barriers to companies and governments in adopting distributed ledger technology. It does this by ensuring secure data and effective collaboration through the technology.

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Ocyan is a blockchain solution that uses an end-to-end managed platform on-premises of their customer’s enterprise cloud or data centre infrastructure. Developers can connect to their blockchain network via their API suite.

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Soar provides financial technology solutions that address ethical finance sector needs. They support the needs of communities by helping to support credit unions, building societies and responsible lenders by giving them access to innovative technology.

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AutoRek provide a range of products for companies in the asset management, banking and insurance sectors covering financial, operational and regulatory reporting and control areas which allow these companies to know, understand and report their data accurately.

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Encompass provides technology solutions that allows companies to perform due diligence on an individual or company from a mass of information and quickly present this visually. Their technology can also help with things like reducing customer onboarding times or back book batch remediations.

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Money Dashboard have developed an app that empowers customers to take control of their finances and make informed financial decisions based on insights gathered from their own data.

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Sustainably have produced an app that supports individuals and businesses to support charities and the third sector. It does this by rounding up payments for goods/services bought or allowing the user to allocate a monthly payment to the charity of their choice.

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FinTech Scotland

The bridge to connect you to Scottish fintech companies

FinTech Scotland acts as Scotland’s fintech shop window and it is their mission to not only support and build the fintech community in Scotland but also to attract global partners to work with or benefit from the solutions developed by their members.

Their website provides more detail on the fintech companies currently in Scotland. Learn more about the other innovative fintech companies changing the world from their Scottish base.

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Fintech opportunities

The smartest location for fintech companies to locate and grow

Discover the many developments taking place and opportunities open to fintech companies in Scotland.

Stephen Ingledew, Executive Chair of FinTech Scotland and Chris Brooks, Chief Financial Officer, Modulr share their insights on Scotland's fast-growing fintech hub.

Watch our webinar opens in a new window  

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