Avaloq, an international fintech providing services and digital solutions to banks and wealth managers, announced on Thursday it has been named founding partner of FinTech Scotland, which is described as a newly-established company tasked with promoting Scotland as a global fintech hub.
Since 2012, Avaloq reports it has had a significant presence in Scotland. It has more than 100 staff based its Edinburgh research and development center and around thirty staff members in London. Speaking about the partnership with FinTech Scotland, Thomas Beck, Avaloq’s Chief Technology Officer stated:
“Research and development is part of Avaloq’s DNA. Edinburgh has been a fantastic location for us and our growing teams, with a very high calibre of local talent helping us become the leading international business we are today. A strong spirit of innovation and investment is key to the future success of Avaloq and our customers. As partners of Fintech Scotland, we will help to further raise the profile of Scotland as a fintech location.”
Stephen Ingledew, CEO, FinTech Scotland, added:
“Scotland has all the components required to capitalise on this new fusion of financial services and technology to develop a thriving FinTech ecosystem and a global centre of excellence. This is evidenced clearly by the support and input of a globally renowned fintech firm such as Avaloq which provides solutions to the world’s leading financial services firms. We are very thankful for Avaloq’s early participation in the FinTech Scotland initiative and for its stimulation of innovation.”
As previously reported, FinTech Scotland, which was founded in 2017, is seeking to become a global leader in fintech innovation and development by creating an integrated fintech ecosystem in Scotland through the provision of funding, support, infrastructure, and talent.
“At FinTech Scotland our mission is to foster a culture of collaboration to help take advantage of the opportunity we have to build a thriving FinTech industry in Scotland. We provide a collaborative and connected ecosystem, champion Scotland’s unique attributes and provide an opportunity for business creation and growth.”