FinTech Scotland has appointed a senior government director to accelerate plans for a financial regulation innovation lab.

Trish Quinn, who was a digital programme director with the Scottish Government, will be the strategic innovation director for the cluster management organisation as it develops the Financial Regulation Innovation Lab (FRIL).

FRIL, which will be based in Glasgow, is one of the recommendations laid out in the UK Fintech research & Innovation Roadmap published in March 2022, and is due to launch later this year.

It is set to be a new collaborative centre of excellence for cutting-edge fintech developments in financial regulation. The Lab will explore solutions that aim to ‘streamline regulatory processes, enhance compliance measures, and drive efficiencies across the financial sector’.

In the role, Quinn will be responsible for leading the Lab and working with partners across Scotland and in the UK, in delivering a programme that will enable efficiencies through technology to meet the needs of current and future financial regulation.

Quinn brings a wealth of experience in digital transformation and digital product development to her new role, having previously served in a number of senior digital roles in both the UK and Scottish Government, most recently as digital programme director within the directorate for social care and National Care Service development.

She said: “I am delighted to join FinTech Scotland as the Innovation Director and lead the Financial Regulation Innovation Lab. The potential to reshape the financial industry through technology applied to financial regulation is significant, and I am excited to join the team at FinTech Scotland to drive innovation, foster collaboration, and contribute to the growth of the fintech sector.”

FinTech Scotland, in partnership with industry partners, and with the University of Strathclyde and the University of Glasgow, will work together on FRIL. The project is funded by the Glasgow City Region Innovation Accelerator programme, led by Innovate UK on behalf of UK Research and Innovation (UKRI).

Nicola Anderson, CEO of FinTech Scotland, said: “Trish brings extensive experience in digital transformation, leading strategic initiatives across her career with an emphasis on change through collaboration and partnerships. Her leadership and experience will help us accelerate the Lab’s development, creating the conditions needed for more fintech growth in Glasgow and the FinTech Scotland cluster.

David Hillier, associate principal and executive dean of the University of Strathclyde Business School said: “We are excited to welcome Trish to lead this critical initiative. The University of Strathclyde has significant expertise to bring, and we’re looking forward to driving this initiative, working closely with our industry partners across the FinTech Scotland Cluster and our academic partners in the University of Glasgow to drive this opportunity for Glasgow City Region. The Lab creates the environment for high-potential innovation in a subject that’s fundamental to the success of our financial system.”