Green FinTech Challenge

The Green FinTech Challenge is aimed at firms developing green solutions that need specific regulatory support to bring their proposition to market.

We want a financial services market that works well when responding to the challenges of climate change, as well as the potential opportunities. We have launched the Green FinTech Challenge to support innovation and growth in the Green Finance sector as part of the government’s Green GB Week.

We encourage firms who require specific regulatory support, and meet the criteria, to apply to join the Green FinTech Challenge cohort. The challenge will provide support to a selection of firms developing innovative products and services to assist in the UK’s transition to a greener economy. It is open to start-ups, incumbents and technology providers. Examples of green solutions include (but are not limited to):

  • supporting capital flows/investment towards green products and services
  • driving efficiency in the issuance, distribution or adoption of green products
  • managing climate-related risk posed to market participants
  • environmental impact measurement
  • delivering new green financial products

Firms developing broader ethical, social impact or environmental, social and governance products and services are welcome to apply, on the condition that there is a link with, or associated benefit to, the Green Finance agenda.

Benefits for firms

If your application is successful you'll be eligible to benefit from Innovate services including:

  • a dedicated Innovate Adviser
  • authorisation support
  • live market testing in the sandbox
  • guidance and/or informal steers

About the FinTech Challenge

The FinTech Challenge is a pilot approach for FCA Innovate. This involves us taking a more active role in driving innovation in an area where we see clear benefit to UK consumers and markets. The pilot FinTech Challenge will focus on firms developing innovative solutions to assist in the UK’s transition to a greener economy.

The FinTech Challenge does not replace our existing Innovate services. Firms developing propositions that are not within the scope of the Green Fintech Challenge can apply to Direct Support, the Advice Unit or cohort 5 of the regulatory sandbox.

Once the Green FinTech Challenge is completed, we will reflect on whether we wish to roll out further FinTech Challenges.

Apply to take part in the Green FinTech Challenge

If your firm wishes to take part in the challenge, please complete the application form and send it to [email protected].

The deadline for applications is 11 January 2019.

Once the application window has closed we will assess all applications and select a small number of firms that meet the criteria. All applicants will benefit from an initial phone call with a member of the Innovate team to discuss their idea. Successful applicants will be notified by the end of Q1 2019 and a list of successful Green FinTech Challenge firms will be published on our website at a later date.

Eligibility criteria

All applications will be assessed against the following eligibility criteria:

  • assisting in the transition to a greener economy
  • benefit to UK markets and consumers
  • need for Innovate services

Contact us

If you have any questions about the challenge, email [email protected] or call 020 7066 4488.

Related information

Over the next few decades, climate change is likely to fundamentally transform our economies. We take all risks that have an impact on the markets and institutions we regulate seriously, including risks posed by climate change. Find out more about our approach to climate change in our Climate Change and Green Finance Discussion Paper. Insights from the Green FinTech Challenge may be fed into this discussion paper.