Financial Services and Fintech

Finance icon

Fife has a long history within the Financial and Business Services sector.

In 1802 The Fife Banking Company was established at Cupar to provide working capital for the local agricultural industry.

Fife is the centre for Business Process Outsourcing (BPO) and Shared Services. Nearly five thousand people are employed in Fife’s shared services centres which generates a turnover of nearly £500 million each year. The Pitreavie Business Park & Carnegie Campus make up the largest single centre for financial shared services in Scotland.

Major Companies with facilities in Fife include Lloyds Banking Group, Nationwide Building Society, BSkyB and Intelligent Finance. They sit alongside numerous successful local companies such as Paywizard growing successfully within the sector. The relative maturity of the sector means that Fife’s shared services value add is £103,000 per FTE, one of the highest in the country.

Invest Fife has joined forces with international Fintech companies, Fife College and Fintech Scotland to launch Scotland’s first ‘Fintech Skills Academy’. The Academy is a great example of an ecosystem coming together to address a sector issue. We believe it will bring more inclusion to the fintech sector by bringing more young people to consider fintech as a career but also allowing experienced professionals learn new skills and stay relevant to the industry’s rapid transformation.

Fife is also an attractive location for recruitment having lower housing costs, an effective public transport network, and multiple Leisure and Entertainment opportunities locally and within easy reach.