Fintech global centre of excellence to open

Published: 04 September 2019

A global centre of excellence for the fintech sector which it is hoped will create thousands of jobs in Edinburgh and lead the way in the pioneering industry is set to be up and running by early next year.

The Global Open Finance Centre of Excellence, created by Scottish fintech and open banking industry bodies in partnership with the University of Edinburgh, is close to signing funding agreements with international banks, fintech companies and global philanthropy organisations.

We could ultimately be looking at thousands of direct and indirect jobs for Edinburgh as a result...

Gavin Littlejohn , Head, FDATA

 

The centre would create a data research facility, and will also be a centre of excellence for fintech companies to research regulation in the industry around the world.

Fintech is a group of companies which use technology to make financial services more accessible. Examples include banking apps and services such as Revolut, which allow people to track their spending.

Global Open Finance Centre of Excellence being an international focus point of fintech global activity in the future.

UK government legislation, which came into force in January last year, requires all financial services firms to make a customer’s financial information accessible to fintech firms...

Full story via Edinburgh Evening News

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