A number of innovations being tested in the regulatory sandbox have proven to "incrementally improve" users' saving habits, the Financial Conduct Authority (FCA) has said.
In its one-year reflection on the progress of the watchdog's regulatory sandbox, it said a number of the financial management and savings tools developed had the potential to improve consumer spending and savings behaviour, although it did not name the firms proven to be successful in this area. The FCA's regulatory sandbox allows firms to test their ideas and innovations on consumers in a safe haven without fear the FCA will pursue or punish them if customer detriment is caused. The regulator said: "A number of tests employed innovative methods in personal financial management, savin...
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