UK regulator the Financial Conduct Authority (FCA) has made its digital sandbox pilot a permanent tool available to financial services firms wanting to test their innovations.
The platform was previously only open on a temporary basis to participants in FCA-sponsored pilots and accelerator programmes.
By making the platform a permanent fixture, the FCA hopes to “foster innovation” and “support economic growth and international competitiveness”.
The features of the sandbox include anonymised datasets and over 1,000 APIs, data security protection and an “observation deck” to allow regulators and incumbents to “observe in-flight testing at a technical level”.
Interested parties can apply for access to the sandbox from August 1 onwards under a number of themes, including ‘investment’, ‘pension’ and ‘wholesale buy-side'.
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