The Financial Regulation Innovation Lab (FRIL)FRIL recently announced the four fintech companies selected to receive grants through its latest Future of Wealth Innovation Call. The initiative was delivered in partnership with FinTech Scotland and SuperTech WM.FinTech Scotland in partnership with SuperTech WM
This six-week programme aimed to help consumers make informed financial decisions and gain access to more tailored wealth support, whilst keeping up with evolving regulation. The programme concluded on 15th January with a Showcase Day, where 21 fintechs presented their innovative solutions to the challenge.
Connection with HM Treasury-Financial Conduct Authority (FCA) Advice Guidance Boundary Review (AGBR)
The programme was conducted against the backdrop of the joint HM Treasury-Financial Conduct Authority (FCA) Advice Guidance Boundary Review (AGBR). This initiative seeks to bridge the UK’s advice gap by elucidating how firms can provide more meaningful support under the Consumer Duty. Participants took part in various workshops and deep dive sessions to refine their propositions to fit real-world industry needs and potential pilots with partners. The FCA was involved throughout, providing valuable clarity and guidance.
Support from Ten Strategic Partners
The Innovation Call was successfully delivered with the support of ten strategic partners, including PwC, Barclays, Lloyds Banking Group, Sopra Steria Financial Services, NatWest Group, M&G, BNP Paribas, Dudley Building Society, Wesleyan, and Standard Life. Additionally, academic partners from the University of Strathclyde and the University of Glasgow, along with Growth Builders, also supported the delivery.
Following the Showcase Day, four fintechs were selected to receive £50,000 each to further develop their solutions. Over the grant period, the awardees will continue to collaborate with industry and academic partners to test, validate, and accelerate their innovations towards adoption and scale.
The Winning Fintechs
Finspector
Finspector is an AI-powered compliance platform that automates the review and monitoring of financial promotions across text, images, video, and social media. This solution aids regulated firms in reducing risk, evidencing compliance, and confidently scaling marketing activity across jurisdictions.
Planda
Planda is a behavioural AI platform that assists financial services firms in moving beyond outdated segmentation to deliver hyper-personalised customer engagement. By connecting data across enterprise workflows, Planda builds dynamic customer segments that evolve in real-time, enabling institutions to personalise at scale and deepen relationships.
Amplified Global
Amplified Global uses AI and Machine Learning to help firms assess, simplify, and demonstrate consumer understanding at scale, ensuring they meet compliance obligations with confidence. Its technology analyses and enhances intelligibility, turning complexity into clarity. Through a guided digital journey, it makes content more engaging, measurable, and human, redefining how people connect with information.
Afternoon Finance
Afternoon Finance introduces a new data + AI first operating model for advice firms. Data collection is automated with a focus on completeness and quality. AI modules automate work, allowing a doubling of clients with the same team and with less risk – from meeting to report in under 2 minutes.
Commenting on the outcome, Aleks Tomczyk, Chief Executive, FinTech Scotland, said,
“The Advice Guidance Boundary Review is pivotal to widening access to meaningful financial support across the UK. Too few people are saving adequately for retirement, and historically advice has skewed towards higher earners. Government, regulators and industry are aligned on helping the wider population make better‑informed financial decisions. By funding these four winning projects and opening real‑world pilots with partners, we’re accelerating practical solutions that improve consumer decision‑making and access to support, while helping firms operate confidently within the advice–guidance boundary.”
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