The UK's Financial Conduct Authority has implemented a permanent Digital Sandbox, making the testpad available full-time for firms wanting to try out innovative technologies.
In brief:
-The platform has only been available temporarily to those participating in pilots and TechSprints
-Participants using the Sandbox will have permanent access to over 200 synthetic, public or anonymised data sets and over 1000 APIs to enable testing and validation of technology solutions
-The FCA says that more than half of the previous Small to Medium Enterprise participants in the pilots and TechSprints made positive developments
What does this mean?
From 1 August, the FCA will begin accepting applications for the Sandbox across a full spectrum of financial use cases, with approval promised within four weeks.
