Regulatory sandbox - cohort 2

Find out about the 24 businesses that were accepted into regulatory sandbox cohort 2 to test innovative products, services, business models and delivery mechanisms.

We received 77 applications for regulatory sandbox cohort 2 from a diverse range of sectors, locations and sizes, before the application window closed on 19 January 2017.

There were 31 applications that met the sandbox eligibility criteria and were accepted to develop towards testing. Seven firms were not ready to begin testing and may be part of cohort 3.

Cohort 2 therefore consists of 24 firms that are ready to begin testing shortly.

Tests will be conducted on a short-term and small-scale basis and we have worked with the sandbox firms to agree testing parameters, building in consumer safeguards.

Cohort 2 firms

Sandbox cohort 2 firms

Description

AssetVault

AssetVault enables consumers to catalogue all of their assets in a secure online register and better understand their total value. AssetVault then works with insurance providers to protect the consumer and their assets with appropriate insurance products.

Assure Hedge

A web-based platform offering forex (FX) options to assist SMEs and individuals to protect against losses incurred because of currency fluctuations.

Beekin

Leverages artificial intelligence and data sharing to build transparency and liquidity in alternative assets (real estate, angel investments), and offers risk management and analytics services to small investors.

BlockEx

BlockEx wish to test a bond origination, private placement and lifecycle management platform based on distributed ledger technology.

Canlon

An insurance policy that saves a portion of the net premium to reimburse policyholders if a claim is not made.

Disberse

A blockchain-based service provider that distributes and tracks development and humanitarian finance.

Evalue

An on-going, fully automated online streamlined advice process for employees in the workplace designed to help them set and achieve realistic retirement goals.

Experian

A mortgage eligibility tool that can be used to help consumers who are in the research phase of buying a home by increasing awareness of their eligibility, based on the lender’s affordability criteria.

FloodFlash

FloodFlash provides event-based flood insurance, even in high-risk areas. Customers receive a pre-agreed settlement as soon as the company’s sensor detects that flood waters have exceeded a certain depth.

Insure A Thing

An alternative insurance business model where the consumer makes payments at the end of the month, based on the exact cost of claims settled during that period.

Money Dashboard 

A tool that offers an instant view of consumer affordability by aggregating and organising financial transactions from online accounts and mapping them to mortgage lenders’ criteria, supporting a digital mortgage journey.

Moneyhub Enterprise

Moneyhub combines artificial intelligence, data analytics and psychology to nudge consumers to encourage affirmative financial actions.

Nimbla

Nimbla provides flexible trade credit insurance and credit and invoice management tools to UK SMEs, via an online platform

Nivaura

Nivaura's focus is on automating the primary issuance and administration of financial assets through a centralised system or a blockchain infrastructure.

Nuggets

A consumer blockchain application that gives users a single biometric tool for login, payment and identity verification, without sharing or storing private data.

nViso

An online platform providing advisors and clients behavioural assessment profiles generated by artificial intelligence and facial recognition.

OKLink A money remittance service combining domestic e-money transfers on OKLink’s cross-border blockchain settlement system.
Oraclize A distributed ledger technology based e-money platform which turns digital identity cards into secure digital wallets through the use of smart contracts and fiat-backed tokens.
Paylinko A DLT-based payments solution enabling users to send and receive payments using a link.
Sabstone A blockchain based platform that aims to help companies receive early payments from their clients against their invoices.
Saffe A face recognition payments and authentication service provider.
Systemsync An employee benefits comparison platform for SMEs, powered by payroll's automated Workplace Pension submissions.
YouToggle An app that uses mobile phone telematics to monitor a user’s driving and create an individual score that can then be shared with a car insurer to obtain a discount. Driving information captured by the app could also be used as evidence in the event of motor accident.
ZipZap A cross-border money remittance platform that chooses the most efficient means for a payment to reach its destination, including via digital currencies.