The new research and development (R&D) centre will help to develop solutions aimed at delivering social and economic benefits through open banking and financial data. The Government research funding agency, UK Research and Innovation, confirmed the centre as one of seven proposals being funded by the Strength in Places Fund, which supports innovation and economic growth across Scotland.
The initiative will enable research into public earning, spending, and saving to help create citizen-focused financial services, as well as helping policymakers to understand the economic and social impact of policies and regulations.
Over the past two years, the groundwork on the initiative has been led by the University of Edinburgh, fintech Scotland, the Financial Data and Technology Association (FDATA) and Scottish Enterprise with the support of a range of organisations.
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