UK Bank RBS Hosts Scotland’s First Permanent Fintech Hub
The Royal Bank of Scotland, hereinafter RBS, is to host Scotland’s first ever fintech hub in a move backed by both the English and Scottish parliaments. Based at the bank’s headquarters in Edinburgh, the business accelerator will operate from May along with an entrepreneurial center set up last year BBC News reports. “The fintech sector has huge potential for our economy so it is essential that these entrepreneurs are given all the support they need to ensure Scotland is at the heart of the fintech revolution,” commented Louise Smith, RBS Head of Design in Personal and Business Banking.....
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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....