The world is facing unprecedented financial, societal and economical challenges. Financial, banking and insurance institutions are having to respond swiftly to these issues to remain competitive. Scottish fintech companies are tackling these challenges head on with innovative solutions and technologies that not only help provide answers, but also solutions to help the wider community learn and adapt.

Heritage, Community and Expertise

Scotland's innovative fintech community can provide solutions for your company’s needs.

Heritage of financial know-how

Scotland is rich in centuries of financial services expertise.

Fintech community

Scotland is home to around 150 fintech companies and rising.

Technology expertise

Leading experts in data, cyber security, artificial intelligence, machine learning and blockchain.

European fintech centre of excellence

Scotland's fintech ecosystem is underpinned by expertise derived from its financial and banking capabilities, expertise and workforce.

This is further supported by the fantastic universities in Scotland which are producing skilled graduates with ideas that are spun out into dynamic companies with innovative technology solutions.

Not only that, but Scotland has recently been accredited by ESCA as the first UK centre of fintech excellence.

Bridge crossing to Glasgow's International Financial Services District

Global Open Finance Centre of Excellence at the University of Edinburgh

This world-first Centre secured £22.5 million UK Research and Innovation funding in 2020 to develop financial technology and education to deliver social and economic benefits around the world. This will include how best to use open finance, the sharing of consenting customers' data between different financial businesses.

The university will partner with the Financial Data and Technology Association (FDATA) and FinTech Scotland and draw on expertise from academia, financial services and fintech businesses.

"The funding of the Global Open Finance Centre of Excellence reinforces the value of collaboration between the diverse range of entrepreneurial enterprises, academics, large institutions, government and citizen groups in embracing the role of data in driving financial innovation. With engagement across Scotland, UK and globally, the initiative will further reinforce the inclusive approach in developing the fintech cluster focused on delivering better consumer and citizen financial outcomes."

Stephen Ingledew, Executive Chair, FinTech Scotland

Scotland’s strengths in data-driven innovation

Scotland has specific strengths in data-driven fintech innovation. With companies looking at ways to use data to deliver better outcomes for consumers and better ways for businesses to operate. These include things such as:

  • How consumers use or borrow money
  • Payment mechanisms
  • Data security to ensure customers feel comfortable in sharing their data and that it will be used responsibly and safely by companies
Cashless payment

Open banking

Open banking has become a real game changer for the industry. As a small Scottish fintech startup, The ID Co has helped create the massive tidal wave of change that’s revolutionising the banking sector. The ID Co provides online identity verification, proofing and strong authentication service that enables people and businesses to transact in digital environments.

Its consumer product, DirectID (originally miiCard), offers individuals a secure, easy and effective way to prove who they are online. The company is now ready to expand its business with banks and customers in every part of the world and plan to do it from its Edinburgh base.


"From our base in Edinburgh, our view is international. We're already active around the world, contributing to the development of open banking in Australia, Singapore, the US and elsewhere in Europe. Edinburgh is, and will always be our home turf. It’s an ideal launch pad to the rest of the world."

James Varga, founder and CEO of The ID Co

Find fintech solutions for your business

From insurance to cyber security, AI to data analysis, the FinTech Scotland website is your gateway to around 150 fintech companies and organisations in Scotland who could have a solution to help your business.

13 Scottish fintech companies to watch 

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

Read Modulr's story

Watch our fintech opportunities in Scotland webinar

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Need help sourcing a fintech solution? We can put you in touch with the right people.