The cluster management body for financial technology firms in Scotland has partnered with a leading enterprise technology provider to help fintech organisations embrace innovation.

FinTech Scotland will work with NCR Corporation, a major employer in Dundee, and its 600-strong financial experts in the Tayside region to develop opportunities for technological advancement for fintech firms and financial institutions, plus wider cluster stakeholders such as universities and innovation centres.

The announcement follows the recent publication of FinTech Scotland’s “groundbreaking” Research and Innovation (R&I) Roadmap which, developed in conjunction with key players in the financial industry, includes a focus on the future of payments and transactions and financial regulation.

Nicola Anderson, chief executive, FinTech Scotland, said: “We are hugely excited to about the strategic partnership with NCR and their dynamics and pioneering approach to developing technology will further accelerate innovation with fintech SMEs [small and medium-sized enterprises] and large financial firms in the cluster.

“Our industry-driven, action-orientated R&I Roadmap will provide the ideal framework to advance new financial services innovations with NCR and we look forward to the collaboration with the NCR team in Dundee as well as the USA and across the globe”.

The new partnership builds on NCR’s innovation track record as a software and services provider with a history of applying new technology developed through its Dundee Discovery Centre.

With expertise in payments, transactions, digital banking and strategic advisory services, NCR will join FinTech Scotland and its other thirty strategic partners to drive a customer and digital-led financial innovation, with the aim of “transforming how people, communities and businesses engage with money and finance”.

Colin Payne, corporate vice president, NCR Professional Services, said: “In my experience the value of regional fintech powerhouses is undeniable, bringing raw talent and passion into the space and guiding the development of next-generation financial businesses.

“In Scotland, this is particularly true given the rich engineering heritage, innovative mindset and history of outstanding customer-focused financial services – this unique combination brings us a new generation of powerful fintechs. We are delighted to partner with Fintech Scotland to support the scaling of these amazing new solutions.

FinTech Scotland is an independent, not-for-profit cluster body jointly established by the financial services sector, universities and Scottish Government and Scottish Enterprise to help Scotland achieve positive economic and social outcomes by encouraging financial innovation, collaboration and inclusion as part of the country’s broader digital economy objectives.