FCA: Regtech still 'sleeping giant' of financial services

Still under-serviced area of sandbox

Sophie King
clock • 1 min read

Regtech is still the "sleeping giant" of the financial services world, according to FCA director of innovation Nick Cook.

Speaking at the CDO Exchange event on Wednesday (6 November), Cook said that while it is certainly growing, regtech is still a key "underserviced" area of the Financial Conduct Authority's (FCA) so-called 'regulatory sandbox.' The sandbox allows businesses to test propositions in the market and applications are currently open for cohort six until 31 December. In his talk, Cook said regtech - the use of new technology to facilitate regulatory requirements - is "another area where we have to think if the services we currently offer marry up to the needs of the firms".  One reason for...

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