Financial Services in Scotland - Driving innovation in the financial services sector
Scotland’s financial services is recognised as one of the stronger performing industry sectors. Financial services in Scotland spans over 300 years thus developing a strong infrastructure including; nearly 95,000 people directly employed and over 70,000 people employed in support services, a strong academic research base and a supportive political environment. Overall, Scotland is recognised as one of Europe’s leading financial centres with Edinburgh being the UK’s second financial centre after London, and Europe’s fourth by equity assets.
Whilst the global financial services industry is experiencing a period of significant change as it adapts to the financial crisis and economic slowdown, support mechanisms are in place to ensure that the businesses in Scotland remain resilient. Process, product and service innovation is the way forward in order to overcome these challenges and remain competitive and developing links with academia is one way to achieve this.
How can Interface support growth in this sector?
Interface has access to hundreds of world leading academic experts and facilities across a range of disciplines such as economics, mathematics, accounting, informatics, engineering, business and computing which are of benefit to the Financial Services sector. Interface can facilitate collaborative partnerships in new developments such as risk management, asset management, database development, e-business, security and fraud detection, just to name a few.
Are you aware of the current research being undertaken in this key sector?
Current research being undertaken includes:
- Risk Assessment, Risk Analysis, Risk Management, Asset Risk Management, and Optimal Maintenance Strategies to further enhance the quality and understand financial risk management.
- Database management systems and High performance computing – the development of high performance methods for risk calculations to highly detailed data mining analyses.
- Informatics database systems and theory.
- Market Research – accounting and financial markets research to create practical application of accounting, finance and investment.
- Methods to improve security and fraud detection.
- Frameworks to assess client attitude to risk.
- Computer Engineering – development of financial computing engines to process complex financial models in a fraction of the time required by existing software approaches.
- Mobile networks and security - exploring not just the technology but how people interact with it and how it impacts society.
- Comparative performance of algorithms for developing credit scoring models, on the demand for debt, on credit constraints, and on predicting when consumers default.
- Economics - macro-policy modelling, and central bank independence.
Don’t know where to start?
Let Interface take some of the time and effort out of developing your ideas by using our free matchmaking service to identify potential academic partners. We can also help identify funding opportunities to off-set the cost of your initial collaboration.