Entries open for the Financial Regulation Innovation Lab Challenge

FinTech Scotland has recently opened applications for its Financial Regulation Innovation Lab Challenge. The Challenge aims to attract entries from companies with innovative solutions that enhance the operational resilience of financial services firms, helping them future proof against evolving industry threats.

About the Financial Regulation Innovation Lab (FRIL)

The FRIL is an industry-led collaborative research and innovation programme that fosters responsible innovation. It is supported by UK Government innovation initiatives and major academic partners, including the University of Glasgow and the University of Strathclyde. It aims to bring together financial institutions, technology firms and academic expertise to tackle pressing regulatory and operational challenges facing the sector collaboratively, and to accelerate fintech innovation and adoption.

Industry Challenges

The Challenge seeks solutions in areas identified as critical by those in the industry, including (but not limited to):

• supply chain monitoring and risk assessment/testing;
• simulation and scenario planning;
• data quality and accuracy;
• cross-border resilience and compliance gap analysis;
• business culture and resilience; and
• cloud and hybrid cloud risk management.

Successful applicants will have the opportunity to take part in an ‘Industry Challenge Partners briefing day’ and virtual sessions with strategic industry partners. Virtual pitches and a ‘Fintech Showcase/Demo Day’ will then take place for applicants to pitch their solutions to a panel of judges, before winners are announced in October.

Grant awards of up to £50,000 are also available to certain winners, to be used towards the development and implementation of their innovations.

Eligibility and Benefits

The Competition is open to companies at all stages, including startups and established firms. In addition to potential funding, participants will benefit from expert insights, a collaborative network and the opportunity to influence the future regulatory landscape and operational resilience standards within the UK financial services sector.

Deadline

Q and A sessions on the application process for the Challenge are being held on 31 July and 7 August 2025. Applications can be made via FinTech Scotland’s website and must be submitted by 15 August 2025.

Erin Findlay, Solicitor: efi@bto.co.uk / 0141 726 0911

Laura Patriche, Trainee Solicitor: lpa@bto.co.uk / 0131 381 5041