The UK government has announced the appointment of two new regional FinTech envoys in Scotland, who have been tasked with ensuring FinTech growth in the country.

The two Scottish FinTech envoys are Louise Smith, head of design and transformation at RBS and David Ferguson, founder and chief executive of Nucleus.

In their new roles, the pair will be responsible for building regional and national networks which seek to ensure a greater level of co-ordination and collaboration between FinTech companies, government, investors and regional FinTech hubs.

They will also be tasked with raising awareness of regional FinTech opportunities, identifying market failures and blockers to innovation and supporting the development of specific infrastructure to support the growth of FinTech in the region.

David Ferguson, founder and chief executive of Nucleus, said: “It is a great privilege to have been picked to help support the continued growth of FinTech in the UK. Over 10 years ago we embarked on our mission to challenge the established industry. With technology and transparency at the heart of our thinking, we've been fortunate enough to become a successful and profitable player in what we now call FinTech.”

In April 2016 the government set out its intention to ensure regional growth of FinTech in the UK. Following discussions with FinTech companies and regional stakeholders the Treasury decided to appoint regional envoys to support growth in regions with FinTech potential as well as existing hubs.

The economic secretary to the treasury, Simon Kirby, added: “I’m delighted that David and Louise have agreed to become the government’s FinTech envoys for Scotland. Their in-depth knowledge of the industry and excellent reputations makes them the right people to drive forward positive change and allow Scottish FinTech to flourish.”

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