Morgan Stanley enters into a partnership with FinTech Scotland

FinTech Scotland, the cluster management body, has announced a new strategic partnership with Morgan Stanley, which further strengthens the growth of financial technology innovation and excellence across Scotland and accelerates the fast-growing sector’s global connectivity.

Morgan Stanley joins FinTech Scotland’s existing strategic partners, including financial services firms, academia, technology solutions providers and public sector organisations, to further strengthen the development of Scotland’s fintech cluster through the support of strategic initiatives and leveraging cross-regional collaboration.

For Morgan Stanley, a significant technology player in Scotland, the partnership with FinTech Scotland opens up new engagement opportunities with cutting-edge technology providers, a key part of Morgan Stanley’s fintech innovation strategy.

The collaboration will also support the firm’s Multicultural Innovation Lab and accelerator program, which promotes financial inclusion and provides access to capital and expertise for early-stage technology and technology-enabled startups led by entrepreneurs from diverse backgrounds.

This partnership demonstrates Morgan Stanley’s continued commitment to Glasgow and extends its support to the Scottish technology ecosystem. The firm has a workforce of over 2,000 in Glasgow and recently announced further investment in local talent, providing career opportunities for over 200 young people as part of its largest graduate recruitment program to date.
The investment bank will involve itself in the collaborations that continue to advance the FinTech Research and Innovation Roadmap, which drives innovation in financial regulation, climate, open finance and payments and transactions.

Commenting on this new partnership, Khalid Rafiq, Chief Technology Officer in Glasgow at Morgan Stanley said: “We are delighted to deepen our ties with the Scottish fintech community and help foster the growing start-up ecosystem. Playing an active role in the Fintech Scotland cluster not only ensures that we fully support our local community, it gives us the chance to to share our expertise and deepens our commitment to foster technology talent and diversity to drive innovation and business value in the vibrant Scottish marketplace.”

Nicola Anderson, CEO of FinTech Scotland said: “We look forward to working with Morgan Stanley, building even more global connectivity as we continue to build, grow and advance the FinTech Scotland Cluster. Plans for the year ahead will see more fintech innovation in capital markets and further support to enable greater diversity in fintech innovation. Morgan Stanley’s strategic engagement will enable further fintech innovation and opportunity in Glasgow, which continues to see fintech growth, building Scotland’s national reputation for fintech innovation.”