Fintech

Treasury appoints RBS head as fintech envoy




Economic secretary Simon Kirby has announced the appointment of two new fintech envoys for Scotland.

Louise Smith, head of design in personal and business banking at Royal Bank of Scotland, and David Ferguson, CEO of Nucleus, will provide leadership and form connections to help Scotland take advantage of the UK’s fintech boom.

Fintech – which can include digital currencies, robo-advice and crowdfunding platforms – contributed £6.6bn to the UK’s GDP in 2015 and was responsible for 61,000 jobs.

Mr Kirby said: “I’m delighted that David and Louise have agreed to become the government’s fintech envoys for Scotland.

“Their in-depth knowledge of the industry and excellent reputations make them the right people to drive forward positive change and allow Scottish fintech to flourish.”

After London, Scotland produces the most fintech-related graduates in the UK, some 12% of the 97,000 annual total.

Edinburgh University is also the largest informatics school in Europe and 35% of all technology spin-out companies in the UK come from Scotland’s educational institutions.

Louise added: “I’ve been involved with fintech and digital-related activities for over 10 years and more recently with specific focus here in Scotland. 

“I have seen first-hand the great work that it has achieved in putting Scotland on the global technology map, we have such a vibrant and talented community who are working on the very latest ideas, games, apps, systems and design.”

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