Like Benny Lynch in a cruiserweight contest, Scotland punches above its weight in the world of finance.
Now the Scottish Government is highlighting the nation’s growing stature as a financial services powerhouse for the whole of the UK.
Its newly published prospectus showcases the strength of Scotland’s presence in London and marks the launch of a campaign to promote our UK-wide financial services sector.
Show all Financial Services & Investment jobs across Scotland
The launch comes alongside news the number of financial technology companies in Scotland has tripled in just a year.
According to FinTech Scotland, there are now 80 fintech businesses.
It says the growth has been driven by a dynamic blend of Scottish technology companies expanding into financial services, fintech businesses moving into Scotland, and the emergence of brand new start-ups.
As you know, fintech is sadly not Aquaman’s swimsuit but an abbreviation of ‘financial technology’.
It involves harnessing the power of data to improve services, replace inefficient systems and, last but certainly not least, combat cybercrime.
So let’s find out more about fintech . . . and make 2019 the year you land that top financial services position from s1jobs.
Personal Platforms
Traditional banks and financial institutions can get stuck in a rut, often struggling to keep pace with the ever-evolving needs of customers.
Fintech, on the other hand, is the Stretch Armstrong of finance: incredibly flexible and able to reach out in all directions.
Younger, smaller, more dynamic, these firms harness the power of pioneering systems, such as Application Program Interface (API), to create bespoke solutions for customers.
These can include investment platforms and multi-currency management, as well as borrowing and savings plans.
Total Transparency
Fintechs allow customers to manage finances in a refreshingly clear way, keeping them up to speed with costs in real time and with none of the ‘small print’ fees that can be the downside of using traditional banks.
Additionally, fintechs often provide pay-as-you-go schemes, so customers only pay for the services they use.
Cool Collaboration
A primary mission of fintech businesses is to bring together a variety of platforms to create a ‘financial ecosystem’ that ultimately saves money for customers.
But this isn’t about disrupting the current systems, it’s about collaboration, with traditional institutions hooking up with fintech companies.
Such innovative partnerships mean everyone’s a winner: the bank, the fintech and the customer.
Breaking Boundaries
Fintech fun is planetary-wide, enabling global services such as cross-border transactions via mobile phone or tablet apps.
The days of a customer’s money being lost in a cyber transit lounge for days are over – these are real-time data transfers.
Such innovation is also helping developing countries, who can now participate in previously inaccessible markets.
If you’re excited by the prospect of working with new tech in finance, check out the latest Financial Services & Investment roles on s1jobs