On 28 March 2022, the FCA published a new webpage titled ‘Innovation Hub: market insights’.
The Innovation Hub has been helping forms to develop innovative products and services since launching in 2014. During this time, the FCA has gathered a considerable quantity of data and insights into the growing FinTech market in the UK. This webpage is the FCA’s first step in sharing these insights with the broader market and is intended to grow as more data is collected.
The data reveals the types of firms and technology supported by the Regulatory Sandbox and Innovation Pathways, including firm sizes, sectors and locations.
Since 2014 there have been:
- Over 2,000 applications for support.
- Over 800 firms being supported.
- Over 150 firms accepted for testing in the Regulatory Sandbox.