Bellrock Technology joins FinTech Scotland
Bellrock Technology is now a member of FinTech Scotland. Fintech Scotland is a Government backed organisation looking to support and develop the growing financial technology community across Scotland.
We are fortunate in Scotland to have such a strong financial technology sector and we are excited to engage with its key players through our membership of FinTech Scotland. It is a sector where the opportunities to better exploit data are wide-ranging and we believe Lumen can help to overcome many of the challenges firms face in doing so. We are looking forward to working closely with the FinTech community to help gain insights and ultimately improve the services that customers receive.” Adam Brown, CEO, Bellrock Technology.
Data Science and AI in Finance
The financial sector is one of the biggest investors in artificial intelligence and data science. With the open banking initiative and the huge amount of data institutional financial services organisations have, making sense of this data is a key priority.
According to a 2019 survey by the Bank of England, two thirds of financial services organisations are using some form of machine learning. The survey also highlighted that financial services organisations are looking to double their use of machine learning over the next three years.
As a result of the wide range of applications and the financial industry sharing the burden of a shortage of skilled data scientists, new technology will be key to ensuring finance organisations have the ability to take advantage of the latest approaches in data science.
Lumen in Finance
Lumen is Bellrock Technology’s patented data science delivery platform. It allows data scientists to deploy data science models into production easily. Lumen has been used across sectors for more than 7 years.
Lumen reduces the time to deploy data science models from 60 days to 60 minutes. As Lumen can be SaaS hosted or deployed within an organisations existing IT infrastructure it makes it easy for Finance organisations to fit Lumen into their strategy.
Institutional financial services companies regularly have a large complex and siloed data platforms, Lumen provides the ability to easily connect to any data source allowing you to bring all of your data to your models to start generating results from day 1.
What is FinTech Scotland
FinTech Scotland is a community initiative to bring together the financial technology companies in Scotland to secure Scotland’s place as a top five global fintech centre.
Stephen Ingeldew, CEO, FinTech Scotland, said, “ Bellrock Technology are a young exciting fast growing firm who are applying their data science driven expertise and capability to a wide range of financial large enterprises to ensure the effective delivery of business solutions.
Their extensive experience in data driven solutions from other sectors of the economy such as energy, smart manufacturing and retail brings an innovative approach to the application of data science and we are delighted to welcome Bellrock Technology to the expanding fintech community.”
The FinTech community in Scotland is one of the strongest in the world with over 120 companies in the community. All working together to innovate in the financial sector.
FinTech Scotland looks to strengthen the community by encouraging networking, sharing and communication between financial technology companies.