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Scotland, a rising FinTech hub


The Scottish FinTech ecosystem shows a steady growth in the number of companies and a consolidation in its organizations on the background of a strong governmental support.


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Scotland has been built on a strong heritage and world-class capabilities across the Financial Services sector – from banking and asset management, to technology and data-driven innovation.

Education is a key driver for FinTech in Scotland

Among the most highly-educated country in Europe, Scotland also offers an experienced, flexible and tech-savvy workforce and a strong output of highly skilled graduates (Artificial Intelligence, Cybersecurity, Blockchain, Data).

“The primary reason we invested in Scotland is talent. In Glasgow, we can tap into talent from the universities across central Scotland including Glasgow, Strathclyde and Edinburgh, amongst others. The support that we’ve had from the government and Scottish Enterprise has also been very strong.” – Stephen Flaherty, Manging Director of J.P. Morgan

Edimbourgh is a solid yet discret financial place compared to London and a vibrant fintech ecosystem, among the most dynamic in Europe. The force of Scotland is its large cluster with different cities who are HQ’d.

A strong public vs private Fintech couple

With the Brexit, Scottish autorities have been working closely with the private sector (banks, technology companies, asset managers and Financial institutions etc.) to design a strong and attractive fintech ecosystem.

Two organizations also appear to play a key role: the Scottish development international and Fintech Scotland (since 2017). FinTech Scotland was born out of the collaboration between the private and public sector around one objective of growth and employment to secure Scotland’s place as one of the leading fintech centres.

According to its newly elected CEO, Stephen Ingledew:

“Our aim is to move Scotland into the FinTech‘Champions League’ by securing a top 10 place in the Global FinTech Hub Federation by 2020. It’s an ambitious target, but I’m convinced that Scotland’s heritage in data, in academia and in the growth of the tech sector will allow us to achieve our goal.”

By providing a collaborative and connected ecosystem, Scotland has everything to attract national and international entrepreneurs as well as talent pools.

FinTech Scotland – Key Data

Scotland is the UK’s 2nd largest Financial cluster after London.

86,600 people are employed across Banking, Asset Management, Asset Servicing, Insurance and Life & Pensions.

Over 10,000 students graduate from courses in Mathematical Sciences, Computer Science and Engineering & Technology every year.

5 Scottish universities in the world’s top 200. That’s more than any other country per head of population apart from Switzerland.

FinTech is a high priority for the Scottish Government as highlighted within the Government’s Programme for Scotland.

>> Access more data on FinTech in Scotland by following this link

Paris will host the Global Innovation Institute 2018 (GI2)


Join Techfoliance next September 2018 the 20-21th in Paris to attend Global Innovation Institute (GI2) at Le Meridien Etoile in Paris, France, one of the most important event regarding Transforming Capital Markets through Technology.

GI2 At a Glance

IMN, in partnership with the Association for Financial Markets in Europe (AFME), will host the Global Innovation Institute (GI2). This inaugural gathering will bring together senior executives and their teams who are driving strategic innovation in technology and operations from Europe’s leading financial institutions.

You can see few speakers here:

  • Steven Maijoor, Chair, European Securities and Markets Authority (ESMA)
  • François Villeroy de Galhau, Governor, Banque de France
  • Samir Assaf, Chief Executive Officer, Global Banking and Markets, HSBC
  • Richard Radley, Lead, Customer Engineering, Google Cloud, Google
  • Lex Sokolin, Global Director Fintech Strategy, Partner, AutonomousNEXT

Why you should come?

For this first edition, Global Innovation Institute (GI2) is gathering more than 500+ senior executives and their teams who are driving strategic innovation in technology and operations from Europe’s leading financial institutions. (GI2) is an invite-only event focused on transformation of Capital Markets through Technology. During the two days event, C-level will have the chance to meet with entrepreneurs, investors and experts.

The unique feature of this programme is its visionary and forward looking agenda focused on what capital markets may look like in 20+ years, which is key for planning strategy in the immediate term.

The conferences will be conducted around Capital Markets key topics such as:

Diversity – Women in FinTech: Is Gender Equality Here ?

Transformation – Applying Agile Transformation to Capital Markets

Cyber Risk – Building institutional resiliency by ensuring redundancy and recovery procedures are in place. Identifying the emerging risks and appropriate measures to prepare for them.

Emerging Technologies – Artificial Intelligence and Its Applications in Capital Markets

Regulation – Ensuring regulatory compliance with emerging frameworks on data protection, cybersecurity, MiFID II. Fostering dialogue between market participants and policy makers.

Workforce 2.0 – Workforce of Tomorrow: Roles, Skills and Technologies

See agenda for full event details

Techfoliance is glad to come to this event as a media partner. We will forward you with daily live news so that you can follow the best of Global Innovation Institute (GI2) if you did not have the chance to come directly to Paris to attend the event.

Do not hesitate to contact us before if you want to manage a meeting with our team to share thoughts, become a contributor or pitch your Fintech to be featured on our media!

Blockchain: three platforms to build your smart contracts


There is the Bitcoin blockchain of course, and its famous rival Ethereum. If these two platforms are the best known, other competitors have emerged in the past months, offering solid alternatives to build “smart contracts”: Waves, NEO, EOS, Stellar, etc.

The blockchain technology is entering its 10th years of existence. Many players have emerged since the early days of Bitcoin and Ethereum offering a multitude of solutions for anyone wanting to develop a project or idea on a blockchain basis.

« A smart contract is a set of promises, specified in digital form, including protocols within which the parties perform on these promises » – Nick Szabo, 1996

It is first important to remember that the concept of “smart contracts” was first introduced by the Ethereum blockchain. Simply put, smart contracts are contracts written in computer language. Other specificities are the terms of smart contracts which are respected on all the nodes of the blockchain.

Overview of smart contracts platforms

There are currently more than twenty smart contract platforms.

Source: Michiel Mulders

Among them, some differentiate from others based on their functional, technical or practical aspects. We decided – intentionally! – to introduce you three of them:

Ethereum: The choice of stability

Ethereum is obviously the most famous platform since it is behind the concept of smart contracts. Young prodigy Vitalik Buterin is one of the founder. Part of its success is due to Ether, the unit of account associated with the Blockchain.

The vast majority of Initial Coin Offering (ICOs) use Ethereum tokens. Another big advantage is that there are many variants of the tokens including the ERC20 which offers many possibilities. As an example, the ERC721 also called “Non-Fungible Token” was used by the CryptoKitties.

Stellar: Bet on speed

Stellar is an interesting platform for projects that need a higher speed of transactions. By extension, it is interesting for those who have small volumes of exchanges.

The average time to confirm a transaction is 5 seconds, comapred to several minutes on other platforms. In addition, the price is much lower approaching 0.00001 XLM (Stellar’s currency).

The Stellar platform has other advantages (which it shares with other platforms), such as:

  • Multi-signature: several signatures are required to unlock a smart contract;
  • Batching: several operations in a single transaction;
  • Sequence: each transaction has a sequenced number;
  • Time bounds: limiting a transaction over time

Hyperledger Fabric

Initially supported by the Linux Foundation, IBM took over it in 2016 under the name Hyperledger Fabric (HLF). This platform is clearly oriented to meet the needs of companies. It was developed in Go language to ensure a very fast compilation time.

On HLF, the community is not building “smart contracts” but “chaincodes” whose key functions make it possible to create and recover assets, and also to find out the history of the changes. Finally, a last delete function (DelState) allows people to delete a key and its associated value, without altering the blocks of the blockchain.


Mapping WealthTech Europe 2018


The first update of this mapping will give you access to the most up-to-date overview of the wealthtech players in Europe.

The European WealthTech ecosystem shows a steady growth in the number of companies with almost one fourth of players that have been launched in the past two years.


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The most complete European wealthtech landscape

Donwload PDF

Our parent company INVYO is proud to release the first edition of its European WealthTech Mapping.

The report is brought to you in partnership with Odysseus Alternative Ventures, a management company specializing in asset and wealth tech, and Seed Founders, a VC-as-a-service platform.

This first edition includes 100 of the most active players coming from 12 European countries.

Companies were categorized in six sub-segments: Investment tools, Data analytics, Portfolio management, Software, Digital brokerage and Robo advisor.

Key takeaways

🔸 Out of the 100 indexed WealthTech companies, 24% have HQ registered in France, 17% in Germany and 16% in Switzerland;

🔸 The mapping shows that robo advisors represent 36% of all wealthtech players identified for this first edition, followed by investment tools with 20% of all players;

🔸 Top 3 countries in wealthtech appear to be France, Germany and Switzerland based on the number of start-ups identified for the first edition of the mapping;

>> Access the mapping by following this link

Please share your feedback by leaving a comment below!

Emma is democratizing the figure of the private wealth manager


Emma is a London-based Fintech that has developed a banking app for millennials. The mobile solution aims at providing a consumer focused banking experience.

Managing money has always been a difficult task for many people, especially when they have to navigate through multiple accounts, several contracts, and different credit cards.

According to Emma, only in the UK, about 10 million people are not aware they are being charged excessive overdraft fees by their bank. Credit scoring is also a huge matter with average amount of consumer debt representing £13,000 per British household.

The mobile-only solution wants to give back the control to customers by allowing each of them to receive a custom banking experience. According to Edoardo Moreni, CEO and Co-founder of Emma:

“We started Emma with the aim to democratise the figure of the private wealth manager. In an age where a new financial product comes to the market every week, consumers are destined to get lost in a financial chaos”.

Emma Technologies LTD recently announced the closure of a funding round led by Kima Ventures, one of the first investor in Transferwise, and Aglaè Ventures, the early stage fund of the Groupe Arnault, investor in Netflix and Airbnb.

Rose Dettloff, Deal Partner, Kima Ventures discussed his choice to join the roundtable:

“Emma brings clarity and transparency to people’s financial lives with a product designed and built for an audience that is eager to grow their personal wealth. Kima Ventures is glad to have Emma as part of its family and looks forward to support future growth and developments.”





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