The announcement comes as BlackRock looks to develop its presence in Scotland, including its recruitment efforts.

According to a statement, the partnership will focus on "innovation and solving difficult problems through data and technology, helping more people experience financial wellbeing".

Fintech Scotland currently has more than 235 fintech SMEs and 35 established financial institutions.

“We are excited to join with FinTech Scotland and its dynamic fintech cluster. We’re looking forward to working with peers and the industry in exploring key themes that are critical to the future of financial services and important to our clients," said Scott Walker, managing director aqnd co-head of BlackRock’s Edinburgh office.

"BlackRock has a long history in Edinburgh and our partnership with FinTech Scotland demonstrates our ongoing commitment to the local market, in addition deepening our relationships in this growing sector.”

"Thanks to the collective innovation and technology expertise across in Scotland, we will continue to drive meaningful change and fintech evolution that will address some of the most pressing challenges in the financial industry today,” added Nicola Anderson, CEO of FinTech Scotland.