Blog written by Fiona Allan, Senior Clubcard Proposition Manager at Tesco Bank Through our great collaboration with Fintech Scotland, we received an introduction to Black Professionals Scotland and over time have built up a strong relationship where we have been able to grow our participation with their excellent internship programme. As a business, we are passionate about increasing the diversity of our workforce and making sure we can support those from under-represented backgrounds. In our most recent intake, we welcomed 16 interns from Black Professional Scotland to join us for our 12-week ..read more

The UK Government released its AI White Paper on March 29, 2023, outlining its plans for overseeing the implementation of artificial intelligence (AI) in the United Kingdom. The White Paper is a follow-up to the AI Regulation Policy Paper, which outlined the UK Government's vision for a future AI regulatory system in the United Kingdom that is supportive of innovation and tailored to specific contexts. The White Paper presents an alternative methodology for regulating AI in contrast to the EU's AI Act. Rather than enacting comprehensive legislation to govern AI in the United Kingdom, the UK Go ..read more

In today's rapidly evolving workplace landscape, diversity and inclusion have become more than just buzzwords; they're integral components of successful business models. However, achieving genuine diversity and inclusion goes far beyond simply meeting quotas. It requires a nuanced approach that values individuals' unique contributions and fosters inclusive cultures where everyone feels respected and empowered. Traditionally, quotas have been employed to increase diversity, setting specific targets for recruiting or promoting individuals from underrepresented groups. While quotas may boost dive ..read more

The April 2024 Edition of the Pinsent Masons' Regulatory Risk Trends offers a deep dive into the current and emerging issues that are shaping the world of finance, legal compliance, and corporate governance. This comprehensive document, authored by leading experts in the field, serves as a very useful source of information for businesses, financial institutions, and legal professionals navigating the complex regulatory environment. The report opens with thoughts from Jonathan Cavill, Partner at Pinsent Masons, who specialises in contentious regulatory and financial services disputes. His exper ..read more

The Consumer Duty: What does it entail? The Financial Conduct Authority (FCA) has recently issued the Consumer Duty Principle to guide financial services firms' conduct in delivering good outcomes to their retail customers. The Consumer Duty is consumer-centric and outcome-oriented with the potential to bring about major transformation in the financial services industry. The Consumer Duty is supported by three cross‑cutting rules that require firms to: Act in good faith towards retail customers. Avoid causing foreseeable harm to retail customers. Enable and support retail customers to pursue ..read more

FinTech Scotland is participating in New York Tartan Week and New York FinTech Week, representing the dynamic Scottish fintech sector on the global stage. Led by CEO Nicola Anderson, FinTech Scotland is accompanied by a select group of innovative Scottish fintech companies, including Terrapin, Tindeco, Grand Bequest, and Broker Insights. This delegation is organised in collaboration with the UK Department for Business and Trade (DBT) and aims to explore and establish transatlantic market opportunities. The participation reaffirms FinTech Scotland's commitment to fostering international collabo ..read more

The legal sector is on the brink of a transformative shift, according to the latest findings from Scottish fintech company Legado. Their 2024 report, "The Private Client Experience, Legal Report," unveils crucial insights into how private client solicitors and their clients interact, highlighting a compelling case for the adoption of digital solutions in the legal sector. The Digital Demand in Legal Client Experience The traditional modes of communication, predominantly email and post, remain the solicitors' go-to methods. However, this seems to be out of sync with client expectations and need ..read more

Encompass Corporation, a fintech based in Scotland and a leading global provider of real-time digital Know Your Customer (KYC) solutions, just announced the appointment of Neil Acworth as its Chief Information Security Officer (CISO). Acworth's entry is a significant milestone for Encompass in its mission to provide gold-standard information security processes to global banking institutions. Acworth brings to the table an impressive array of experiences, having navigated through the tech space with roles such as Chief Technical Officer (CTO) and Chief Information Officer (CIO), particularly wi ..read more

Techscaler, the Scottish Government's tech startup support programme, and FinTech Scotland, the cluster body driving Scotland’s fintech innovation, announce a strategic partnership poised to drive forward Scotland's fintech sector development. FinTech SMEs now employ more than 10,500 people across 226 enterprises in Scotland, with around 38% of fintechs having reached scale-up stage. Nicola Anderson, CEO of FinTech Scotland, said: “This collaboration is about getting behind Scotland scaling for tech, together. It underscores our joint dedication to cultivating innovation and showcasing the ..read more

We're thrilled to announce the fourth edition of Lloyds Banking Group's innovation programme, "Launch 2024." This initiative is opened for application for fintech innovators across the globe.   What Makes Launch 2024 Unique? "Launch 2024" is not just another innovation call; it's a 5-month collaborative journey designed to accelerate fintech solutions. This programme offers access to subject matter experts and business masterclasses, enabling rapid experimentation and development. Participants will gain the opportunity to work closely with Lloyds Banking Group's subject matter experts, re ..read more