17 fintechs selected for the Financial Regulation Innovation Lab’s first innovation call
The Financial Regulation Innovation Lab, in collaboration with the University of Strathclyde and The University of Glasgow, has selected the firms that will take part in its first innovation call centred around "Simplifying Compliance through AI and Emerging Technologies,". This call aims to showcase how technology can meet UK and global regulatory requirements, potentially setting a new benchmark for future advancements in the industry.
The mission
This initiative will not only look at advancing innovation but also at highlighting the significant role of artificial intelligence and emerging technologies in simplifying and enhancing compliance processes within the financial sector. By bringing together academia and some of the UK's leading financial institutions, such as Morgan Stanley, Tesco Bank, Virgin Money, abrdn, and Deloitte, the programme will offer unparalleled mentorship, insights, and real-world case studies to the participants.
The selected fintechs
17 companies have been meticulously selected to participate in this programme. These companies, established in the UK, Canada, and Singapore, represent the cutting edge of fintech innovation:
Aifluent
Amiqus
Argus Pro LLP
AsiaVerify
Auquan
Change Gap Ltd
Datawhisper
DX Compliance
Fairly AI
Financial Crime Intelligence
First Derivative
HAELO
International Data Flows
Legal-Pythia
Level E Research
Talan UK
Pytilia
Next steps
These selected fintech companies will gather in Glasgow on the 12th of March, where they will delve into use cases presented by the supporting financial institutions. This gathering will not only provide them with a unique opportunity to learn directly from leading experts in the field but also to hear about the latest developments in AI from university scholars. The discussion will span best practices for maximising the benefits of innovation calls and strategies for scaling businesses for success
The collaboration between these fintech innovators, academia, and some of the largest financial institutions in the UK will not only demonstrate the potential of AI and emerging technologies to revolutionise regulatory compliance but also help inform the future of financial innovation.
The FRIL project is funded by the Glasgow City Region Innovation Accelerator programme. Led by Innovate UK on behalf of UK Research and Innovation, the pilot Innovation Accelerator programme is investing £100m in 26 transformative R&D projects to accelerate the growth of three high-potential innovation clusters – Glasgow City Region, Greater Manchester and West Midlands. Supporting the UK Government’s levelling-up agenda, this is a new model of R&D decision making that empowers local leaders to harness innovation in support of regional economic growth and help attract private R&D investment and develop future technologies.
