Recently I was privileged to be invited to a roundtable debate on the financial services sector and its relationship to technology at the North East’s newest bank, Atom.
The event was part of a rare visit to the region by the Economic Secretary to the Treasury, Harriet Baldwin, and saw the region’s major fintech players, Scott Logic included, gather to demonstrate that the Northern Powerhouse is alive and well, and growing!
It emerged that the financial services sector employs more than 45,000 people in the North East, each year generating more than £3.5 billion for the UK economy. Scott Logic is immensely proud to be part of a thriving community that makes such a valuable contribution to Britain’s returning prosperity. We continue to attract the best technologists, helping us achieve 50 per cent growth year on year, as well as taking on ever-bigger annual groups of graduates.
We would happily hire more if the pool of high calibre developers grew even further in the region, so we’re excited about Atom’s Knowledge Transfer Partnership with Durham University, and hope more schemes like this, in which academic institutions partner with local businesses to bring about true innovation, begin to emerge in the coming years.
As a digital bank, technology will play a huge part in the creation and success of Atom, and the firm is well positioned to act as a fulcrum for a significant group of financial technology providers to work in partnership and bring about real, positive change in the sector, unhindered by legacy systems. It’s refreshing to see a national enterprise in a sector as maligned as banking has been in recent years, commit to the regions in such a tangible way, with two thirds of Atom’s investment being spent with North East suppliers.Scott Logic has a similar ethos. We are very much a national company, with an international client base, but our ongoing expansion is as a result of our investment in finding and keeping the talent in our regions. Long may it continue!