back Back

FCA supports net zero TechSprints, Sandbox and Green Fintech Challenge

By Joy Dumasia

July 21, 2021

  • Europe
  • FCA

Financial Conduct Authority (FCA)The FCA is committed to developing a range of innovative programs to help businesses prepare for a changing climate and support their transition to a net-zero economy. Regulators say this program aims to accelerate the development of new approaches and solutions in sustainability and climate change.

A four-day hackathon in the form of a Sustainability TechSprint will bring together cross-organisational teams from across financial services, technology, academia and international regulators to generate new supervisory technology to help supervisory authorities monitor ESG data and disclosure.

This is backed up by a second digital sandbox pilot running over 8-10 weeks to develop a practical proof of concept to improve the transparency of ESG-related market disclosures and consumers’ understanding of ESG characteristics to support Financial products.

The FCA is also proposing a ‘Green FinTech Challenge’ featuring a package of support services to help start-ups, incumbents and technology providers navigate regulation and support live market testing of new products and services that will aid the transition to a net-zero economy.

The FCA states: “These services allow us to engage with and support innovative solutions at various stages of their development. This includes the initial ideation and proof of concept stage through our TechSprint programme, the further development and validation of proof concepts to demonstrate market value through our Digital Sandbox pilot, and the testing of innovative propositions in the market with real consumers through our regulatory sandbox.”

Recently, IBS Intelligence reported that According to official figures, the Financial Conduct Authority (FCA), the regulatory watchdog for financial services firms in the U.K., has misplaced a total of 323 electronic devices estimated to be worth £310,600 over the last three years.

Previous Article

July 21, 2021

ZENIQ launches blockchain tokenization platform in Dubai

Read More
Next Article

July 21, 2021

Zafin and Codat partner to empower FIs to offer personalized services to SMBs

Read More

IBSi Daily News Analysis


July 19, 2024


SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

July 12, 2024

SaaScada & Partes sign embedded finance partnership in Switzerland

Read More

July 11, 2024

BR-DGE launches white-label payment orchestration solution

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024