Chief executive appointed for FinTech Scotland

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A chief executive has been appointed to the industry body set up to promote the financial technology sector in Scotland.

Stephen Ingledew, who is a currently a non-executive director of Marketing Edinburgh, will lead FinTech Scotland.

Ingledew has held senior executive roles at financial institutions including Barclays and Standard Life, as well as in smaller financial companies.

He has also had a number of non-executive director roles, including with Scottish Financial Enterprise, the Institute of Financial Services, the Chartered Insurance Institute and the Financial Services Authority.

FinTech Scotland has been set up by the Scottish Government, the University of Edinburgh and the private sector to promote the financial technology industry in Scotland.

The Scottish Government committed £250,000 over two years to establishing FinTech Scotland in the programme for government, with half to come directly from the government and half from Scottish Enterprise.

Further funding has been pledged by the University of Edinburgh and established companies in the financial services sector.

In April 2017 the Global FinTech Hub Federation (GFHF) ranked Edinburgh as joint 15^th in the world for fintech in a review of 44 international centres.

Minister for Business, Innovation and Energy Paul Wheelhouse said: “I warmly welcome Stephen Ingledew’s appointment as chief executive officer, as this is a very significant milestone in the establishment of FinTech Scotland.

“Stephen will play a crucial role in cementing Scotland’s position as a world-leader in FinTech, building on our established strengths in both financial services and technology.”

Stephen Ingledew said: “I am delighted to be given the opportunity to lead FinTech Scotland and help assert our capability as a leading and thriving FinTech environment.

“I am very much looking forward to engaging with the diverse range of stakeholders in the ecosystem and building on the valuable progress made by the SFE FinTech Steering Committee.

He added: “The fusion of financial services and technology can deliver the economic benefits of growth and productivity, and the social benefits of employment opportunities and better consumer outcomes.

“Scotland has a proud heritage of creating these benefits from the combination of financial services and technology.

“However, the new innovations in this digital and data driven age along with changing consumer and business expectations are presenting fresh opportunities to further develop the sustainable economic and social benefits.”