Avaloq, an international fintech providing services and digital solutions to banks and wealth managers, has become a founding partner of FinTech Scotland, a newly-established company tasked with promoting Scotland as a global fintech hub. Avaloq has had a significant presence in Scotland since 2012, with Edinburgh being home to one of its global Research & Development Centres.
FinTech Scotland was launched to drive growth and employment and position Scotland as a financial services technology centre of excellence. The organisation was registered in the summer of 2017 and its CEO, Stephen Ingledew was appointed in January this year. Avaloq has had a significant presence in Scotland since 2012, with over 100 staff based in its growing Edinburgh research & development centre. Together with around 30 more staff in London, almost a quarter of Avaloq’s employees outside Switzerland are based in the UK. Thomas Beck, Avaloq’s Chief Technology Officer said: “Research and development is part of Avaloq’s DNA. Edinburgh has been a fantastic location for us and our growing teams, with a very high calibre of local talent helping us become the leading international business we are today. A strong spirit of innovation and investment is key to the future success of Avaloq and our customers. As partners of Fintech Scotland, we will help to further raise the profile of Scotland as a fintech location.”
Stephen Ingledew, CEO, FinTech Scotland, said: “Scotland has all the components required to capitalise on this new fusion of financial services and technology to develop a thriving FinTech ecosystem and a global centre of excellence. This is evidenced clearly by the support and input of a globally renowned fintech firm such as Avaloq which provides solutions to the world’s leading financial services firms. We are very thankful for Avaloq’s early participation in the FinTech Scotland initiative and for its stimulation of innovation.”