Nationwide has been accepted into the FCA's regulatory sandbox to develop an "automated solution providing digital savings guidance and investment advice".
The bank's automated advice venture is among 18 firms' projects to begin work in the regulator's sandbox as part of its third cohort of entrants. Two lots of 24 firms have already been accepted into the programme in the last 12 months. The Financial Conduct Authority's (FCA) 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 something goes wrong. To be accepted within the programme, firms have to comply with a number of criteria, including scope, genuine innovation, consumer benefit, need ...
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