The industry body set up to promote the fintech sector in Scotland has named Stephen Ingledew as its first chief executive.
FinTech Scotland was established by the Scottish government, Scottish Financial Enterprise (SFE), the University of Edinburgh and the private sector to establish the country as a centre for fintech startups. Capital city Edinburgh was ranked joint 15th out of 44 international cities by the Global FinTech Hub Federation in April 2017 and the body's backers are keen to elevate its status, having committed £250,000 to the cause and pledged further funding in the future.
Ingledew is a fomer senior executive at Barclays and Standard Life and a non-executive director with various bodies including the SFE, the Institute of Financial Services and the Financial Services Authority.
His appointment was welcomed by the minister for Business, Innovation and Energy Paul Wheelhouse. "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."
Ingledew referred to Scotland's "proud heritage" in fintech adding that "new innovations in this digital and data-driven age along with changing consumer and business expectations are presenting fresh opportunities to further develop sustainable economic and social benefits".