Coronavirus (Covid-19) has put some providers and consumers of financial services under significant pressure. Now, more than ever, our Innovation Division can play an important role in supporting firms to go to market to ensure better outcomes for consumers. On 5 November 2020, we will be showcasing our range of Innovation services, demonstrating the full range of firm-facing innovation support services we provide, and how best to access our services.
There has been significant interest in our regulatory sandbox since its inception in 2016 and the application window for cohort 7 is now open. We will be inviting some of our regulatory sandbox alumni to provide an insider’s look at the regulatory sandbox and tell us about their journey within and beyond the sandbox. Attendees will hear first-hand about the sandbox process, how firms can best prepare for sandbox testing, and the benefits that sandbox testing can bring to innovative firms.
We will also be introducing our brand new Digital Sandbox pilot which we have launched with the City of London Corporation. The pilot supports innovative firms developing solutions in three areas affected by Covid-19: preventing fraud and scams; supporting the financial resilience of vulnerable consumers; and improving access to finance for small and medium sized enterprises. Successful applicants will get access to features such as synthetic data assets, a development environment and collaboration tools.
Global Financial Innovation Network (GFIN)
As chair of the Global Financial Innovation Network (GFIN), we will also discuss the latest work on cross border testing (the ‘global sandbox’). One of the ways GFIN supports the fintech industry while seeking to support innovation in the interest of consumers is by creating an environment that allows firms to trial and scale new technologies in multiple jurisdictions, gaining real-time insights into how a product or service might operate in the market. This framework, called ‘cross-border testing’, will soon open for applications. We will be hosting a panel discussion with numerous international regulatory members of GFIN, and attendees will have the opportunity to ask questions to the panel.
Visit the agenda page for the full agenda.
Who should attend?
The showcase event is aimed at:
- Fintech communities, trade bodies, accelerators, incubators and investors
- Technology firms and academia
- International regulators who are interested in our experience in supporting innovation and fintech
- International fintechs who are interested in the GFIN sandbox
Conducted online via Microsoft Teams