The fintech ecosystem FinTech Scotland has seen over 11,300 people working in the fintech sector in 2024, with an eight percent year-on-year employment growth.
Scotland has witnessed a tenfold increase in fintechs since 2018, highlighting the success of the fintech cluster formed by FinTech Scotland.
The growth of the fintech sector in Scotland contributes to the UK Government Modern Industrial Strategy and emphasizes the importance of clusters in unlocking the potential of cities and regions.
FinTech Scotland's Financial Regulation Innovation Lab (FRIL) has attracted £18 million in investment in its first year, bringing together financial and technology institutions to address industry challenges and create new products.