She will be tasked with guiding the organisation’s Research & Innovation Roadmap, with a specific focus on advancing the Financial Regulation Innovation Lab (FRIL).

Mr Reid has more than 20 years of experience across innovation, research, financial services, and policy. Most recently, she was director of policy and public affairs at Prosper, where she led research initiatives, managed a partnership with the Scottish Government on small business learning (Peer Works), and oversaw delivery of a school STEM programme. She has also held senior roles at Experian and Robertson Group, as well as running her own start-up.

Her appointment comes as FRIL accelerates its ambition for innovation and research, aimed at advancing fintech growth, technology adoption and collaboration across the financial sector.

Since its launch in 2023 FRIL has become a catalyst for financial regulation innovation across the UK. Strategically based in Glasgow FRIL builds on the city’s established and growing financial services sector as well as the city’s growing reputation for innovation and collaboration. By addressing industry-wide challenges and supporting innovation in regulation, FRIL is contributing to a more resilient and inclusive financial system, while aligning with the UK’s Modern Industrial Strategy to drive growth and competitiveness in financial services.

Nicola Anderson, CEO of FinTech Scotland, said: “We are pleased to welcome Clare as Strategic Innovation Director. Her experience across innovation, research and financial services, together with her track record in cross-sector collaboration, will be central to the continued development of the Financial Regulation Innovation Lab.

“Clare’s leadership will help ensure the Lab delivers practical outcomes that strengthen Scotland’s role in financial innovation while contributing to progress across the UK.”

Ms Reid, strategic innovation director at Fintech Scotland, said: “I’m delighted to be joining FinTech Scotland at such an exciting time in their development. They are recognised leaders in cluster management and the FinTech opportunity is a key industrial opportunity for both the Scottish and UK economies.

“FRIL is a pioneering initiative that has real potential to create positive change for consumers, society and the environment and I’m excited to have the opportunity to play a part in that and in the future direction as we look to scale up the initiative.”

Led by Innovate UK on behalf of UK Research and Innovation, the pilot Innovation Accelerators programme invested £100 million in 26 transformative R&D projects, including the Financial Regulation Innovation Lab, to accelerate the growth of three high-potential innovation clusters – Glasgow City Region, Greater Manchester and West Midlands. This is a new model of R&D decision making that empowers local leaders to harness innovation to drive regional economic growth, help attract private investment and develop future technologies.