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Strathclyde Business SchoolDepartment of Accounting & Finance

Centre for Financial Regulation and Innovation

The CeFRI was established in 2016 as a centre of academic excellence in Financial Regulation and Innovation. Its vision is to provide a strategic link between academia, policy-makers, regulators and other financial industry participants.

The mission of the Centre and of its members is to foster policy relevant research to support the practical application of innovation in Finance.

The CeFRI aims to foster better regulation in the face of its academic and practitioner focused innovation in capital markets. It promotes insights in innovation, market efficiency, risk management, investment benchmarks and corporate governance to a wider audience.

The CeFRI also operates as a hub for excellence in PhD and postgraduate teaching programmes in financial markets. Based within the Department of Accounting and Finance, it hosts a Visiting Researcher Programme and welcomes consultancy collaborations with public and private policy makers and stakeholders.

The CeFRI organises a range of events, including high-profile guest lectures, seminars and conferences. It collaborates closely with other Centres and Institutes across the University focused on Law, Innovation and Entrepreneurship.

Our activities are funded by industry partners.

Industry links

By maintaining close links with business, professional and commercial organisations in the accounting and finance areas, the department ensures both that the education our students receive is relevant and practical in the eyes of future employers, and that there is true cross-over between industry and academia in terms of research value.

The department constantly reviews and develops its activities with business, professional, public sector and commercial organisations in order to realise and enhance the value of its research.

Here are some of the companies that the CeFRI, Strathclyde Business School and/or the Department of Accounting and Finance are currently working together with:

  • ACCA Global
  • Association of Chartered Certified Accountants
  • Association of Corporate Treasurers
  • Barclays
  • CFA Institute
  • Chartered Institute of Management Accountants
  • Chartered Securities and Investment Institute
  • Deloitte
  • ESRC
  • Fintech Scotland
  • Institute of Chartered Accountants of Scotland
  • JP Morgan
  • KPMG
  • Lloyds TSB Group
  • London Stock Exchange
  • Morgan Stanley
  • PwC
  • Royal Bank of Scotland
  • Scottish Accountancy Trust for Education and Research
  • Scottish Consortium on Crime and Criminal Justice
  • Scottish Executive
  • UN Conference on Trade and Development


Teaching and Courses

CPD training courses for financial professionals are held jointly with qualifying institutions.


Membership of the Center is open to all financial professionals, alumni of Strathclyde University and interested capital markets stakeholders. Interested parties should contact Daniel Broby, Director CeFRI.


Phd Research

The centre sponsors Phd research into both innovations in financial systems and effective regulation.

For suggestions on themes please see Potential Fintech research topics

Research Papers

Creating a Financial Data Lake for Academic Fintech Research

Strategic Fintech: White Paper

Fintech - Hype or Reality

The future of Fintech in Scotland

Central Banks and Cryptocurrencies: Centre for Financial Regulation and Innovation - White Paper

Equity crowdfunding: literature review

Examining the Impact of Artificial Intelligence on the Evaluation of Banking Risk

Sustainable Finance: AI Applications in Satellite Imagery and Data

The Determinants of Credit Default Swap Premia and the Use of Machine Learning Techniques for their Estimation

The Effectiveness of Regulatory Reporting by Banking Institutions


Working Papers and Impact Studies

The centre aims to assist government, regulators and industry to meet emerging regulatory challenges and opportunities from innovation in financial markets. We promote work that aims to anticipate appropriate industry structures, governance and policy frameworks, regulatory systems, and responses.

Policy Briefs

The Centre also published ad-hoc analysis of industry issues and trends, and suggests appropriate regulatory responses.

Research and Funding

To engaging with industry participants, undertaking targeted research, delivering highly relevant educational events and providing valuable inputs to policy makers and regulators.

The research focus of the Centre is to develop a better understanding of how policy makers can better utilize innovative academic on capital markets and to provide practical recommendations to business leaders, policy makers, and finanical organisations.

The centre works hard to create innovative new capital markets insights, and to share these with the widest possible audience, through our writing and presenting activities.


Daniel Broby - Transforming finance with Fintech

The Scotsman - Scotlands financial hertitage and regulatory backdrop boosting fintech innovation

Spotcap Fintech Fellowship

Launched for the first time in April 2017, the yearly Spotcap Fintech Fellowship is helping build a healthy talent pipeline for the British fintech industry. Awarded to one student per academic year, the Fellowship contributes £8,000 towards a master's degree or MBA in a fintech related field.

For more information Spotcap Fintech Fellowship. The deadline for applications is 15th August 2019.


Coming Events 

The Future of Fintech V  - Thursday 1st October 2020

The 5th year of this conference will focus on the practical applications of Financial Technologies

To register


Past Events

Financial stability and accounting standards with Martin Taylor - Thursday 13th February 2020, 17.30-20.30

To register


Future of Fintech IV - Thursday 12th September 2019

In the 4th year of this event, we focus on Artificial Intelligence and it's Fintech applications.


Can volatility be captured in an Exchange Traded Fund (Factor ETF Crash: The case of the VIX ETN)?

Monday 1st April 2019 , Venue SW105, 4pm-5pm
Presenter: Leonardo Marroni, COO and CRO, Devet Capital

 The rise of factor investing has led to the launch of a number of factor ETFs and ETNs and has seen a number of cases where such products have suffered severe drawdowns. This talk will examine the case of a specific product namely a VIX ETN and will illustrate a number of points. First, how important it is to read the prospectus of any financial product. Then how non-linear financial markets can be especially when a product is too big vis-à-vis the underlying market size. Finally a word of caution on interpreting the behaviour of VIX: instead of being a simple risk measure based on implied vol, VIX has developed its own supply and demand dynamics that may have little or nothing to do with the "fear gauge" label often used to refer to it.


"Fintech - Why Glasgow?" ..., February 20th 2019, 5pm-7pm, SW105

Seminar by Philip Riddle, University of Edinburgh Business School


Symposium agenda , September 21st 2018 ,Technology Innovation Centre, The Future of Fintech III

This one day event will present four academic peer reviewed papers on Fintech related subjects in the morning and four practitioner related subjects in the afternoon. It will explore technological innovation across the financial services sector with a particular emphasis on practical solutions.  The speakers will be both nationally and internationally know experts.


How can FinTech be a positive agent for social change?,  Thursday June 7th 2018

Strathclyde Business School (Lecture Theatre 105), 199 Cathedral Street, Glasgow 


Fintech: Auditing a digital future,  Monday 30th April 2018, 3.30pm - 5pm

For more information -


Symposium agenda , June 1st, 2017 Technology Innovation Centre,Future of Fintech II

7th International Conference of the Financial Engineering and Banking Society. Details

UK's first Fintech course launches at Strathclyde. MSc in Financial Technology.  Course details 

Contact details

 Undergraduate admissions
 +44 (0)141 548 4114 

 Postgraduate admissions
 +44(0)141 553 6116/6105/6117


Strathclyde Business School
University of Strathclyde
199 Cathedral Street
G4 0QU

Triple accredited

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