The regulator is set to expand its Advice Unit - a support group that helps those looking to develop low-cost automated advice models - to help firms that want to provide financial guidance rather than advice.
It will also expand its Advice Unit to take in firms within the mortgage, general insurance and debt sectors.
Launched last summer, the unit took on and helped nine firms develop their robo proposition and, in September, the Financial Conduct Authority (FCA) said eight large-scale robo-advisers were on the way. True Potential was the first to reveal it was one of the original nine firms to be involved in the regulator's support group.
The move comes as the FCA's technological flagship scheme 'Project Innovate' enters its next phase. The watchdog said the project's next step would also involve working more closely with international partners and increasing engagement with emerging regional fintech hubs.
The FCA's regulatory sandbox - a safe space for firms wanting to try out new concepts - has received 77 applications for the second cohort of firms, according to the regulator. Launched in May 2016 it received 69 applications for its first entry round.
Just 31 of the applicants will be successful and progress towards testing, the FCA said. The likes of Citizens Advice, HSBC and Lloyds were among the 24 successful applicants to have been accepted from among the first round of firms.
FCA executive director of strategy and competition Christopher Woolard said: "The fact is that through engaging larger firms in innovation through the sandbox and our Advice Unit, the potential numbers of consumers who could benefit from the services offered by those firms has moved in the space of one year from being counted in the tens of thousands to being counted in millions."
The regulator also revealed it had received more requests for innovative support post-Brexit than it did beforehand. It received 264 requests for help in the nine months prior to the EU referendum and 321 in the nine months following the Brexit vote.
Chief executive Andrew Bailey previously reassured firms and consumers the referendum vote would not lead to a "bonfire of regulation".
Woolard added: "Through the FCA's Project Innovate, we help firms tackle regulatory barriers to innovation - be it through clarifying regulatory expectations, examining our own rules or enacting policy changes - to give them space to innovate in the interest of consumers.
"Like the firms we support, we have not shied away from breaking new ground in how we regulate this dynamic industry."
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