FinTech Scotland has launched an initiative to help people plan their financial future around their health in later life.
The Finance and Health Lab will bring together financial services and fintech firms, academia, government, health specialists, to seek ways to improve financial wellbeing.
The four-month programme is supported by the Scottish Government and delivered in collaboration with the University of Edinburgh and Edinburgh Innovations, its commercialisation service. There will be a national conference on innovation in finance and health.
A range of studies have drawn a direct link between household wealth and the likelihood of poor health in older age. Office for National Statistics figures suggest the average pension wealth in the UK for people between the ages of 65 and 74 stands at just under £146,000.
This is equivalent to just over 4.5 years of ‘comfortable’ retirement income by the Pensions and Lifetime Savings Associations’ standards.
Aleks Tomczyk, chief executive at FinTech Scotland, said: “The retirement savings gap is a longstanding challenge in Scotland and across the UK – and it is only going to grow in importance as more people live longer and, therefore, need more money to fund themselves in later life.”
New Beeks contract
Beeks Financial Cloud Group, the Scottish cloud computing and connectivity provider for financial markets, has signed a multi-year exchange cloud contract with nuam, the regional holding company that integrates the stock exchanges of Santiago, Colombia, and Lima.
Nuam is the first multi-country integrated exchange in Latin America, uniting the Santiago Stock Exchange (Chile), Bolsa de Valores de Lima (Peru) and Bolsa de Valores de Colombia under a single market architecture.
Beeks will deploy its infrastructure to support both domestic and international clients onboarding onto the exchange’s trading ecosystem across all three countries.
The service is expected to go live in Q3 FY26 with revenue recognition set to commence shortly thereafter, further underpinning the board’s FY26 expectations and increasing the company’s levels of contracted, multi-year, recurring revenue.
It is the seventh exchange to adopt exchange cloud, reinforcing the growing traction of the offering globally.
The pipeline across each of the group’s offerings remains robust, and the company remains focused on converting its sales pipeline.
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