Fintech Scotland seals 'strategic partnership' with ATM pioneer NCR Corporation

Industry cluster body Fintech Scotland has sealed a new “strategic partnership” with NCR Corporation, the tech firm best known for its automated cash dispensers.

Bosses at the financial technology organisation said the tie-up would build on NCR’s “strong innovation track record” as a software and services provider with a “long-established heritage” of applying new technology developed through its Dundee discovery centre.

The announcement follows the recent release of FinTech Scotland’s research and innovation roadmap which, developed in conjunction with key players in the financial industry, includes a key focus on the future of payments and transactions and financial regulation.

NCR will join FinTech Scotland and its other 30 strategic partners, including 14 of the largest financial services firms, to drive forward with financial innovation, “transforming how people, communities and businesses engage with money and finance”.

In January, a report showed that Scotland had seen a surge in the number of companies focused on financial technology amid an acceleration in the move to a digital economy. Picture: AP Photo/Marcio Jose Sanchez

Nicola Anderson, chief executive of FinTech Scotland, said, “We are hugely excited about the strategic partnership with NCR and their dynamic and pioneering approach to developing technology will further accelerate innovation with fintech SMEs [small and medium-sized enterprises] and large financial firms in the cluster.

“Our industry-driven, action-orientated roadmap will provide the ideal framework to advance new financial services innovations with NCR and we look forward to the collaboration with the NCR team in Dundee as well as the USA and across the globe.”

Colin Payne, corporate vice president, NCR Professional Services, added: “In my experience the value of regional fintech powerhouses is undeniable, bringing raw talent and passion into the space and guiding the development of next-generation financial businesses.

“In Scotland, this is particularly true given the rich engineering heritage, innovative mindset and history of outstanding customer-focused financial services - this unique combination brings us a new generation of powerful fintechs.”

In January, a report showed that Scotland had seen a surge in the number of companies focused on financial technology amid an acceleration in the move to a digital economy.

FinTech Scotland said the fintech community had now reached 190 small and medium-sized enterprises, compared to 147 at the same stage last year, and just 26 firms when the industry body started some four years ago.

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