Avaloq becomes founding partner of FinTech Scotland

Member News | 06.04.2018

Avaloq becomes founding partner of FinTech Scotland

Avaloq, a leader in digital and core banking software and a significant presence within Scotland, has become a founding partner of industry organisation FinTech Scotland.

Since 2012, Edinburgh has been home to one of Avaloq’s global Research and Development Centres with over 100 staff based there. Some of its big-name clients include HSBC, Deutsche Bank and Barclays, while the company also supports private specialised banks such as Edmond de Rothschild.

Launched in 2017, FinTech Scotland was established to stimulate growth and employment while cementing Scotland’s potion as a financial services technology centre of excellence.

Scotland already has an established financial cluster and boasts one of Europe’s largest informatics schools, which means it has a ready supply of skilled graduates. Along with the country’s reputation for innovation, it was proclaimed as the best performing region for inward investment outside of London by Ernst and Young. With Scotland’s massive potential to become a global leader in FinTech, this partnership is likely to accelerate this process.

Creating a Thriving FinTech Ecosystem

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.”

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