DI-M01: Number of applications received into the FCA sandbox/innovation pathway by sector and innovation focus
2025/26 values
Total Application Numbers (2025/26 FY)
We received a total of 332 applications across our Innovation Services, including the Regulatory Sandbox, Innovation Pathways, and Digital Sandbox.
- 142 applications to the Regulatory Sandbox
- 113 applications to the Innovation Pathways
- 77 applications to the Digital Sandbox
- 132 Supercharged Sandbox – this is a new service launched in the last year that takes on cohorts once per year and therefore breakdown by sector has not been provided but will be provided in future metrics updates. Historically the DI-M metrics have provided data on our ‘core always open’ services.
Innovation Pathways
| Top 4 Sectors | % of Applications |
|---|---|
| Payments & digital assets | 33% |
| Cross-sector | 21% |
| Consumer investments | 18% |
| Wholesale financial markets | 7% |
Regulatory Sandbox
| Top 4 Sectors | % of Applications |
|---|---|
| Payments & digital assets | 41% |
| Cross-sector | 25% |
| Consumer investments | 8% |
| Markets & retail lending | 6% |
Applications by Technology
| Top 4 Sectors | % of Applications |
|---|---|
| Artificial intelligence and machine learning | 32% |
| DLT/Blockchain | 27% |
| Mobile app & web platforms | 17% |
| Application Programme Interface (API) | 11% |
Digital Sandbox
| Top 4 Sectors | % of Applications |
|---|---|
| Cross-sector & other | 33% |
| Payments & digital assets | 16% |
| Consumer Investments Advice | 12% |
| Retail Lending | 11% |
| Insurance | 11% |
Applications by Technology
| Top 4 Sectors | % of Applications |
|---|---|
| Artificial Intelligence and Machine Learning | 80% |
| Regtech (including KYC/financial crime/online harms) | 48% |
| Open Banking & finance | 41% |
| Operations & Infrastructure innovation | 29% |
Source: FCA data
2024/25 values
Total Application Numbers (2024/25 FY)
We received a total of 176 applications across our Innovation Services, including the Regulatory Sandbox, Innovation Pathways, and the Digital Sandbox.
- 79 applications to the Innovation Pathways
- 52 applications to the Regulatory Sandbox
- 45 applications to the Digital Sandbox
Innovation Pathways
| Top 4 Sectors | % of Applications |
|---|---|
| Payments & Digital Assets | 20% |
| Cross-sector | 16% |
| Consumer Investments | 15% |
| Retail Lending | 13% |
Regulatory Sandbox
| Top 4 Sectors | % of Applications |
|---|---|
| Payments & Digital Assets | 25% |
| Cross-sector | 21% |
| Consumer Investments | 13% |
| Retail Lending | 10% |
Digital Sandbox
| Top 4 Sectors | % of Applications |
|---|---|
| Cross-sector | 53% |
| Payments & Digital Assets | 20% |
| Fund & Investment Management | 9% |
| Retail Lending | 9% |
Applications by Technology
| Top 4 Sectors | % of Applications |
|---|---|
| Artificial Intelligence and Machine Learning | 52% |
| Operations & Infrastructure | 42% |
| Open Banking & Finance solutions | 23% |
| Innovations using Distributed Ledger Technology, Digital Assets, and Blockchain | 18% |
Source: FCA data
2023/24 values
Total Application Numbers (2023/24 FY)
146 for Regulatory Sandbox and Innovation Pathways.
Consisting of:
103 to the Innovation Pathways
43 to the Regulatory Sandbox
Applications by Sector
Across both services
| Top 4 Sectors | % of Applications |
|---|---|
| Payments & Digital Assets | 23% |
| Cross-sector | 21% |
| Consumer Investments | 18% |
| Wholesale Financial Markets | 13% |
Innovation Pathways
| Top 4 Sectors | % of Applications |
|---|---|
| Consumer Investments | 21% |
| Cross-sector | 20% |
| Payments & Digital Assets | 17% |
| Consumer Finance | 13% |
Regulatory Sandbox
| Top 4 Sectors | % of Applications |
|---|---|
| Payments & Digital Assets | 35% |
| Cross-sector | 21% |
| Wholesale Financial Markets | 19% |
| Consumer Investments | 9% |
Applications by technology
| Top 4 Sectors | % of Applications |
|---|---|
| DLT/Blockchain technology | 19% |
| Mobile application and web platforms | 18% |
| Artificial intelligence and machine learning | 17% |
| API and non-technology-driven innovation | 13% |
Source: FCA data
: System update No content change