2017 Fintech Technology Trends - Border Crossing UXThe Growth of Financial Technology in Scotland...
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Fintech in Scotland 2017 The Growth of Financial Technology in Scotland Global Landscape Collaboration is Key Long-term aim for Scotland to be a top 5 global fintech hub $870bn Global fintech sector estimated worth £6bn UK fintech sector estimated worth £7bn Scotland’s financial services sectors’ contribution to UK GDP 2017 Fintech Technology Trends Open Api’s Blockchain Cloud computing IoT Mobile RegTech AI Big Data London Singapore New York Silicon Valley Chicago Hong Kong Zurich Sydney Frankfurt 1 1 3 4 5 6 7 8 9 Toronto 10 Stockholm Tokyo Dublin Taipei Amsterdam Copenhagen Paris Edinburgh Oslo Luxembourg 11 11 13 14 15 16 17 19 20 17 A Very Brief History Fintech in Scotland Bank of England Scottish trader and banker Sir William Paterson founded the Bank of England in 1694. First ATM Scottish inventor John Shepherd-Barron came up with the idea of an alternative method of accessing money while soaking in the bath. In 1967 Barclays unveiled the first ATM in Enfield, North London. RBS launch internet banking In 1997 The Royal Bank of Scotland launched the UK’s first internet banking service Scotland’s National Fintech Strategy Profile Create a strong brand with clear messaging to raise awareness of fintec as an opportunity for business growth and employment Create a virtual hub and physical space to help fintech thrive. Drive financial services & fintech and skills at primary/ secondary school level. Unlock hidden talent. Clarity and support at each stage of a fintech companies journey. Remove barriers to scale. To become a global leader in fintech innovation & development Infrastructure & Innovation Talent Finance & Support Opportunities for Collaboration in Scotland Scotland has 5 universities in the Global top 200. More per head of population than any country bar Switzerland “There are not many other cities that have an ‘eco-system concentration’ like Edinburgh” Benefits of Collaboration Types of Collaboration Financial institutions Fintechs Universities Speed Agility + + + Diversity + = 15000+ Graduates of technology Universities Digital Skills Academy UoE School of Informatics PSD2 GDPR Regulators FSA 100 000+ working in digital tech. sector 86 000+ working in financial tech. sector Datalab Hubs Tech community PR Branding 1000+ firms Financial institutions Education RegTech Regulatory Marketing Startups Incubators Fintechs Tech Companies + + + References http://www.scotsman.com/future-scotland/tech/sarah-ronald-why-fintech-startups-should-look-to-scotland-1-4315738 https://www2.deloitte.com/content/dam/Deloitte/uk/Docu- ments/Innovation/deloitte-uk-connecting-global-fintech-hub-federation-innotribe-innovate-finance.pdf http://www.scotsman.com/future-scotland/tech/sarah-ronald-why-fintech-startups-should-look-to-scotland-1-4315738 http://www.cityam.com/262644/london-keeps-hold-global-fintech-lead-but-these-global https://www.forbes.com/sites/jeanbaptiste/2016/09/28/the-glob- al-fintech-landscape-reaches-over-1000-companies-105b-in-funding-867b-in-value-report/#8b18cf226f3d http://blogs.deloitte.co.uk/scotland/2017/06/why-fintech-is-important-now.html http://www.scotsman.com/future-scotland/tech/sarah-ronald-why-fintech-startups-should-look-to-scotland-1-4315738 Seizing the Opportunity: Scotland’s National Fintech Strategy - Kent Mackenzie - Director - Delloitte - Fintech 2017 Edinburgh https://www.sdi.co.uk/invest/sectors/financial-services/fintech https://www.slideshare.net/RayBugg/fintech-2017-edinburgh-day-2 https://www.slideshare.net/RayBugg/fintech-2017-edinburgh-day-1 https://thefinancialbrand.com/60008/fintech-banking-partnership-challenges-understanding/ Financial institution Fintech The collaboration relationship goes both ways Financial institution Fintech Financial institution as mentor to smaller companies Financial institution Fintech Financial institution goes to fintech company to solve the problem Potential Pitfalls of Collaboration Fintech companies should not lose sight of their vision and values By partnering with a bank a fintech company should be wary of becoming the very thing they set out to disrupt. Understand cultural compatibility Culture fit for both companies is important, by their very nature fintech companies will be very different from banks. This difference should be used positively rather than have a negative impact and therefore the correct partnership is key. Consider the impact of partnering The benefits of associating with fintechs are obvious for the banking industry. However they must consider the long term impact of a partnership or acquisition. How this will effect current services and what is the impact if the partnership ends? Top 20 Fintech Hubs
Transcript of 2017 Fintech Technology Trends - Border Crossing UXThe Growth of Financial Technology in Scotland...
Fintech in Scotland 2017The Growth of Financial Technology in Scotland
Global Landscape
Collaboration is Key
Long-term aim for Scotland to be a top 5 global fintech hub
$870bn
Global fintech sector estimated
worth
£6bn
UK fintech sector estimated
worth
£7bn
Scotland’s financial services sectors’
contribution to UK GDP
2017 Fintech Technology Trends
Open Api’s Blockchain Cloud computing IoT MobileRegTechAI Big Data
LondonSingapore
New YorkSilicon Valley
Chicago
Hong Kong
ZurichSydney
Frankfurt
1
1
3
4
5
6
7
8
9
Toronto10
Stockholm
Tokyo
DublinTaipei
Amsterdam
Copenhagen
ParisEdinburgh
Oslo
Luxembourg
11
11
13
14
15
16
17
19
20
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A Very Brief HistoryFintech in Scotland
Bank of EnglandScottish trader and banker
Sir William Paterson founded the Bank of England in 1694.
First ATMScottish inventor John Shepherd-Barron
came up with the idea of an alternative method of accessing money while soaking in the bath.
In 1967 Barclays unveiled the first ATM inEnfield, North London.
RBS launch internet banking
In 1997 The Royal Bank of Scotlandlaunched the UK’s first internet
banking service
Scotland’s National Fintech Strategy
Profile
Create a strong brand with clear messaging to raiseawareness of fintec as an opportunity for businessgrowth and employment
Create a virtual hub and physical space to help fintech thrive.
Drive financial services &fintech and skills at primary/secondary school level.
Unlock hidden talent.
Clarity and support at each stage of a fintechcompanies journey.
Remove barriers to scale.
To become a global leader in fintech innovation & development
Infrastructure& Innovation Talent
Finance& Support
Opportunities for Collaboration in Scotland
Scotland has 5universities in the Global top 200.More per head of population than any country bar Switzerland
“There are notmany other cities that have an ‘eco-system concentration’like Edinburgh”
Benefits of Collaboration
Types of Collaboration
Financialinstitutions
Fintechs Universities Speed Agility+ + + Diversity+=
15000+Graduates of technology
Universities
DigitalSkills
Academy
UoESchool of
Informatics
PSD2
GDPR
Regulators
FSA
100 000+working indigital tech.
sector
86 000+working in
financial tech.sector
Datalab
Hubs
Techcommunity
PR
Branding
1000+firmsFinancial
institutions
Education
RegTechRegulatory
Marketing
Startups
Incubators
Fintechs
TechCompanies
+ + +
References
http://www.scotsman.com/future-scotland/tech/sarah-ronald-why-fintech-startups-should-look-to-scotland-1-4315738https://www2.deloitte.com/content/dam/Deloitte/uk/Docu-ments/Innovation/deloitte-uk-connecting-global-fintech-hub-federation-innotribe-innovate-finance.pdfhttp://www.scotsman.com/future-scotland/tech/sarah-ronald-why-fintech-startups-should-look-to-scotland-1-4315738http://www.cityam.com/262644/london-keeps-hold-global-fintech-lead-but-these-globalhttps://www.forbes.com/sites/jeanbaptiste/2016/09/28/the-glob-al-fintech-landscape-reaches-over-1000-companies-105b-in-funding-867b-in-value-report/#8b18cf226f3dhttp://blogs.deloitte.co.uk/scotland/2017/06/why-fintech-is-important-now.htmlhttp://www.scotsman.com/future-scotland/tech/sarah-ronald-why-fintech-startups-should-look-to-scotland-1-4315738Seizing the Opportunity: Scotland’s National Fintech Strategy - Kent Mackenzie - Director - Delloitte - Fintech 2017 Edinburghhttps://www.sdi.co.uk/invest/sectors/financial-services/fintechhttps://www.slideshare.net/RayBugg/fintech-2017-edinburgh-day-2https://www.slideshare.net/RayBugg/fintech-2017-edinburgh-day-1https://thefinancialbrand.com/60008/fintech-banking-partnership-challenges-understanding/
Financialinstitution
Fintech
The collaboration relationship goes both
ways
Financialinstitution
Fintech
Financial institution as mentor to smaller
companies
Financialinstitution
Fintech
Financial institution goes to fintech
company to solve the problem
Potential Pitfalls of Collaboration
Fintech companies should not lose sight of their vision and values
By partnering with a bank a fintech company should be wary of becoming the very thing they set out to disrupt.
Understand cultural compatibility
Culture fit for both companies is important, by their very nature fintech companies will be very different from banks. This difference should be used positively rather than have a negative impact and therefore the correct partnership is key.
Consider the impact of partnering
The benefits of associating with fintechs are obvious for the banking industry. However they must consider the long term impact of a partnership or acquisition. How this will effect current services and what is the impact if the partnership ends?
Top 20 Fintech Hubs
