Objectives of Innovation Hub

Our Innovation Hub is focused on encouraging innovation in financial services in the interests of consumers by supporting innovator businesses with a range of services.

Our Innovation Hub is here to foster useful innovation in financial services.

Support for innovator businesses

We offer support to innovator businesses that are looking to introduce groundbreaking or significantly different financial products or services to the market, including when they need assistance with an application for authorisation or a variation of permission.

This helps new or non-regulated businesses understand more about our regulatory framework and what it means for them, as well as firms that are already regulated.

We are also looking to add more flexibility to our regulatory framework and remove barriers to entry, to encourage and support innovation where it will not erode consumer protection or the integrity of the financial system.

You can find out how to request Innovation Hub support.

Engagement with innovator businesses

We are committed to looking to the future, anticipating trends and reacting accordingly.

We recognise that we must understand more about the needs of innovator businesses and their products and services, and the possible benefits and risks to consumers.

In the Innovation Hub we want to hear from and meet with innovative financial businesses, and ask for the views of these firms as well as discussing issues with them at events and other gatherings.

Find out about our events and other engagement. This includes our feedback statement, which has a summary of our engagement in the summer and autumn of 2014.

Further information

You can also see what our former chief executive, Martin Wheatley, said at the launch of Project Innovate – which led to the Innovation Hub in May 2014.

See our journey so far and next steps (PDF, 877KB, 1 page).