Fintech Scotland, the trade association for the Scottish fintech and payments technology sector, has announced BlackRock as its latest member.
The huge US hedge fund is focusing on developing local knowledge in Scotland in line with its expansion plans in the country. Scotland, along with the rest of the UK, is home to growing fintech, payments and technology sectors.
Edinburgh, the capital city, is a particularly attractive location for many firms. The city saw investment across various sectors rise by a huge 409% earlier this year, alongside the English cities of Brighton and Manchester and the country of Cambridgeshire.
Scott Walker, Managing Director, Co-Head of BlackRock’s Edinburgh office, said: “We are excited to join with FinTech Scotland and its dynamic fintech cluster. We’re looking forward to working with peers and the industry in exploring key themes that are critical to the future of financial services and important to our clients.
“BlackRock has a long history in Edinburgh and our partnership with FinTech Scotland demonstrates our ongoing commitment to the local market, in addition deepening our relationships in this growing sector.”
For Fintech Scotland, meanwhile, the group states that the addition of BlackRock falls in line with its research and innovation strategy. The duo have detailed plans to work together on innovation and problem solving via data and tech.
Fintech Scotland has also emphasised what it calls BlackRock’s ‘deep expertise’ in technology and investment management. BlackRock is one of the world’s biggest multinational investment companies, with over $10trn in assets under management at the end of 2023.
The firm is the latest major company to join Fintech Scotland’s ambitions for Scottish tech and finance. The group’s membership consists of 235 fintech SMEs, 35 financial and professional service institutions, alongside universities, regulators and public sector stakeholders. It is also openly working with major banks like TSB, which is looking for Open Banking talent in Scotland.
Nicola Anderson, CEO of FinTech Scotland, said: “The collaboration with BlackRock is a testament to the strength and international appeal of the Scottish fintech cluster. Thanks to the collective innovation and technology expertise across Scotland, we will continue to drive meaningful change and fintech evolution that will address some of the most pressing challenges in the financial industry today.”
