Fintech Sandpit has partnered with the Financial Conduct Authority and City of London Corporation to built a digital sandbox.
This will be used by the financial services industry.
It will allow users to test offerings using data sets, like SME lending and transactional records.
There’s also an open API marketplace.
What does this mean?
The sandbox is being put in place to help financial services work on some of the issues highlighted by Covid-19, such as fraud prevention and financial resilience among vulnerable people.