Green FinTech Challenge 2021

The FinTech Challenge concept involves us taking a more active role in driving innovation in an area where we see clear benefit to UK consumers and markets. 

Building on the success of the pilot Green FinTech Challenge in 2018, we are running a second Green FinTech Challenge to support development and live market testing of new products and services that will aid the transition to a net zero economy.

The application window for this Green FinTech Challenge is now open. 

We encourage applications from firms developing innovative green solutions that require regulatory support to bring their proposition to market. The Green FinTech Challenge is open to start-ups, incumbents and technology providers that meet the eligibility criteria set out below. 

We are particularly interested in firms that are developing innovations in the area of Environmental, Social and Governance (ESG) data and disclosure. For example, products and services that will:

  • enable transparency in disclosure and reporting on sustainability by companies along the investment chain
  • help consumers better understand the ESG characteristics of relevant products and providers they engage with, as well as provide visibility around alternatives aligned with their needs and preferences 

We are not limited to the above and will consider all proposals in the areas of sustainability and climate change that meet our eligibility criteria.

Benefits to firms

Successful applicants will benefit from a package of our firm support services (Direct Support, Advice Unit and the regulatory sandbox). In addition, the firms will be offered bespoke support and engagement for this 'green cohort', for example, taking part in showcasing and networking events. 

Apply to take part in the Green FinTech Challenge

If your firm wishes to take part in the Green FinTech Challenge, please complete this application form.

The deadline for applications is 15 November 2021.

Once the application window has closed, we will assess all applications and select a number of firms that meet the criteria. Successful applicants will be notified in early 2022, and a list of successful Green FinTech Challenge firms will be published on our website.

Eligibility criteria

All applications will be assessed against the following eligibility criteria:

  • In scope: Are you looking to deliver innovation to aid the transition to a net zero economy?
  • Genuine innovation: Is your innovation new or a significantly different offering in the marketplace?
  • Consumer benefit: Does the innovation offer a good prospect of identifiable benefit to consumers (either directly or through greater competition)?
  • Need for support: Does your business have a genuine need for Innovate services (Direct Support, Advice Unit, the regulatory sandbox)?

The Green FinTech Challenge doesn't replace our existing Innovate services. Firms developing propositions that aren't within the scope of the Green FinTech Challenge can apply directly to Direct Support, the Advice Unit or the regulatory sandbox

This Green FinTech Challenge is being run as part of a broader programme of work using our regulatory innovation ‘toolkit’ to assist firms and regulators to overcome some of the challenges the transition to a net zero economy will raise.

Find out more about the full programme and see an indicative timeline for 2021.

Contact us

If you have any questions about the Green FinTech Challenge, you can: 

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 and sustainable finance.

Previous Green FinTech Challenges

Read about our previous events:

Green FinTech Challenge 2018, October 2018

Page updates

20/07/2021: Information added Green FinTech Challenge 2021.