To support fintech innovation and accelerate economic growth across Scotland and the UK, FinTech Scotland has welcomed law firm CMS and international payments giant Mastercard into the Scottish Fintech Cluster as strategic partners.
Both CMS and Mastercard’s involvement reflect the continued momentum for growth across the FinTech Scotland Cluster and its commitment to collaborative innovation, to shape the future of next-generation financial services.
Payment giant Mastercard is championing fintech developments across the world and is driving innovation in fields such as AI and open finance, both themes closely aligned to FinTech Scotland’s ‘Research and Innovation Roadmap’. This new partnership will present fintech businesses in Scotland with more innovation and collaboration opportunities that can build new commercial pathways and access to global markets.
CMS, which has more than 5,000 lawyers across 70 offices worldwide, brings extensive expertise in advising high growth fintech and established financial institutions in cutting-edge developments that are transforming the financial services sector. Their expertise in fields such as digital assets and blockchain technology supports Scotland’s plans for the new centre of excellence in distributed ledger technologies developed by FinTech Scotland in partnership with Edinburgh Napier University.
The two new strategic additions further strengthen an already dynamic group of over 35 strategic partners, all working together to shape a world-class environment for fintech development and regional growth. The diversity of experience and perspective within the cluster continues to drive impactful collaboration and positive impact for the sector and society.
Supporting industry-wide collaboration
These partnerships align with the UK Government’s Modern Industrial Strategy announced on 23 June, highlighting firstly the importance of industry-wide collaboration in delivering economic growth alongside more place-based approaches and the importance of regional clusters to deliver successful growth.
Nicola Anderson, CEO at FinTech Scotland said: “We are delighted to welcome CMS and Mastercard to the FinTech Scotland Cluster. Their global reach, commitment to innovation, and deep sector expertise align perfectly with our ambition for the future of fintech innovation in Scotland. Together with our existing strategic partners, we are building a purposeful, connected, and impactful fintech Cluster, driving action for positive economic gain.”
Bruce Harvie and Fiona Henderson, partners at CMS Scotland, said: “We are delighted to announce CMS’s strategic partnership with Fintech Scotland, a collaboration that underscores our shared commitment to driving innovation, excellence and growth across Scotland’s financial services ecosystem.
“This collaboration brings together our deep industry expertise and Fintech Scotland’s dynamic cluster to support the development of cutting-edge solutions that will benefit businesses and consumers alike. We look forward to contributing to Scotland’s thriving fintech community that champions collaboration, sustainability, and economic growth.”
