We promote innovation in financial services by offering a range of market facing tools and services for innovative firms. Find out more about the services we offer.
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Innovation can be a driving force for effective competition. When competition works well, consumers benefit from lower costs and prices, higher service standards and quality, and increased access to financial services.
We want UK firms to feel that both established businesses and start-ups can bring new ideas to market. It’s vital that we understand how and when our regulation can impede innovation, so that it evolves with financial services, rather than holding them back.
We aim to:
- create room for the innovative businesses to enter the sector
- support positive innovation to come to market in a controlled and sustainable way
- support innovation that has genuine potential to improve the lives of consumers across all areas of financial services
- support innovation delivered by a diverse range of participants, both in terms of the type of firm, and the people behind the developments
Project Innovate launched
Regulatory Sandbox and first TechSprint launched
Global Financial Innovation Network launched
First Digital Sandbox launched
Regulatory Sandbox made always open for applications
Innovation Pathways launched
Permanent Digital Sandbox and Innovation Advisory Group launched
Our innovation services are designed to support firms at any stage of maturity, from collaboration, initial idea and proof of concept, to obtaining authorisation and scaling up in the market.
In 2023 we launched Innovation Front Door to help the innovators find the most suitable service, understand their needs and provide answers to common questions.
Read more about our services to find out how we can support you.