FCA announces a Digital Sandbox programme
The Digital Sandbox programme organised by the Financial Conduct Authority (FCA) allows start-ups and innovative companies from the financial sector to develop their projects by giving them access to specialist tools and data.
The programme aims at supporting the development of new technologies and implementing innovation in financial services. Thanks to the Digital Sandbox companies can develop their ideas and implement new solutions to speed up and facilitate financial processes which will result in increased efficiency and lowered costs for customers.
In the previous editions of the Digital Sandbox programme, awards were granted to e.g. companies dealing with virtual reality technologies, credit risk analysis and lending platforms. All the awarded projects aimed at implementing innovative solutions in the financial sector and improving financial services for clients.
The FCA believes that innovative projects bring competition to the market and promote the sector’s development. The Digital Sandbox programme is showing that the financial sector is open to innovation and development of new technologies. With this initiative, innovative companies can operate in the market and contribute to its development, while clients can enjoy financial services that are more efficient and advanced.
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