Failing to Adopt FinTech May Cost Scotland 14,000 Jobs
The Scottish fintech sector is in peril. Unless revived on time, Scotland may lose over 14,000 jobs in the coming years. The Scottish finance industry may be heading into troubled waters as it moves marginally to adopt next-generation finance technologies. The Banking and fintech sectors are increasingly moving towards the use of Blockchain technology. Many banking and financial institutions from across the world have invested heavily in the research and development of distributed ledger technology for their operations. As other countries are almost midway towards the implementation of....
Related News
An economic modelling study has concluded that Scotland stands to lose over 14,000 jobs in its financial services sector over the next decade if the country does not embrace the rushing wave of Fintech innovation. Like any other country in the world, Scotland’s financial services and banking sectors are, if the hype is to be believed, under the threat of an upcoming Fintech revolution with innovation such as blockchain at its fore. A report by the Centre of Financial Regulation and Innovation by Strathclyde Business School in Glasgow has revealed that Scotland could, in a worst-case....
Scotland’s University of Strathclyde has announced the launching of its new FinTech masters course, making it a first in the U.K. in an announcement on the university’s website. The Master of Science (MSc) in Financial Technology will provide students the financial, programming and analytical skills needed to help companies accelerate and enhance their security. It is hoped that this new course will support the digital transformation of Scotland’s growing financial sector. Boost in Scottish Jobs. An economic modelling study found last year that Scotland could lose more than 14,000 jobs in....
Economists at Strathclyde University in Glasgow, Scotland, have warned that Scotland’s financial sector needs to accelerate its adoption of technology to avoid a future banking crisis. According to the economists, adopting leading-edge fintech could create 15,000 jobs in Scotland over 10 years and failing to do so would have the opposite effect. “Fintech is evolving at a rapid pace and the consequences of digitalisation are being hailed as a ‘game changer’ for both the banking and securities industries,” said Daniel Broby, director of the Strathclyde University’s Centre for Financial....
Scotland may soon emerge as the next fintech hub in Europe as the government diverts its focus towards promoting country's financial ecosystem. Fintech, fueled by cryptocurrencies and blockchain technology is one of the promising segments at the moment. The scenario in the European financial technology sector has become competitive in the recent days as the EU countries are trying to fill the soon to be created void following London’s departure from EU. The country of Scotland is currently in a unique position as it decides whether to stick with the United Kingdom or severe ties to remain....
When Scotland was contemplating seceding from the United Kingdom, some citizens put forward proposals that an independent Scotland should adopt bitcoin-or another cryptocurrency such as the Scotland-themed Scotcoin-as its national currency. However, Scotland voted down the independence referendum, meaning that Scotland will remain in the United Kingdom and retain the British Pound as legal currency. Once this became clear from the polls in the days leading up to the vote, the Scotcoin price dropped. However, despite its decline, the Scotcoin price has avoided collapse. Scotcoin Price....