FCA | Jessica Rusu | Jun 10, 2022

“A record £30bn was invested in UK FinTech companies in 2021. To keep pace with a rapidly changing world and deliver on our commitments we offer a range of Innovation services to promote competitiveness in the UK FinTech market. 

The Regulatory Sandbox allows businesses to test innovative propositions in the live market  with real consumers, alongside regulatory oversight.

92% of firms who have used the Regulatory Sandbox go on to become successfully authorised.

And the success rate is even higher, at 98%, for those who used the Direct Support and Advice Unit.
 
80% of firms that were tested in the Regulatory Sandbox are still in operation.

See:  UK government: Sets sights on being a global hub for cryptoasset technology with flexible future regulation

 
In terms of trust factors…
We measured that this cohort has much higher probability of raising investment, and on average receives 15% more, vs. other non-Innovate firms.

Global Fintech Ecosystems

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