A group of major financial institutions has launched a nationwide initiative to bolster operational resilience in the UK’s financial sector, partnering with FinTech Scotland to invite tech innovators to co-develop future-ready solutions.
The programme is being delivered through the Financial Regulation Innovation Lab (FRIL), a collaborative platform supported by FinTech Scotland and SuperTech WM, and backed by an impressive coalition including Sword Group, NatWest, Morgan Stanley, Dudley Building Society, Unity Trust Bank, M&G, Pinsent Masons, Tesco Bank, Aberdeen, KPMG and EY.
The challenge comes at a time when regulators such as the FCA, Bank of England, and HM Treasury are intensifying their focus on operational resilience amid growing digital disruption, evolving customer demands, and increasingly complex supply chains. The initiative is designed to attract FinTech companies capable of building scalable, practical tools that will help financial institutions adapt to disruption and reinforce trust across the financial ecosystem.
As part of the programme, selected FinTech firms will collaborate directly with participating institutions and receive guidance from leading academics at the University of Strathclyde and the University of Glasgow. In addition to this engagement, successful applicants could be awarded up to £50,000 in grant funding to fast-track the development of their resilience-focused solutions. A final showcase will take place in Glasgow, offering participants the chance to present their innovations to regulators and industry leaders.
FinTech Scotland CEO Nicola Anderson said, “This challenge is a powerful example of how collaboration can drive meaningful change. By bringing together fintech innovators, academic insight, and industry expertise, we’re not only responding to the increasing demands of the digital economy, we’re actively shaping a more resilient and adaptive financial system for the future.”
Sword COO financial services and international Rob Mossop added, “As a trusted technology partner, we recognise that operational resilience is moving beyond meeting regulatory requirements. It has become a business imperative with clear impact on business growth. We understand the critical role that trusted and adaptable solutions play in helping financial institutions respond to disruption and build competitive advantage.”
SuperTech CEO Hilary Smyth-Allen commented, “Our longstanding partnership with FinTech Scotland, to expand the reach of the Financial Regulation Innovation Lab, has delivered fantastic impact in previous programmes for both the fintech innovators and financial services participants. We look forward to seeing the collaborative opportunities arising from this open innovation challenge focusing on operational resilience.”
NatWest innovation engagement manager Nicole Alston said, “NatWest Group are proud to support this challenge, which represents a fantastic opportunity to work hand-in-hand with fintech innovators to shape the next generation of operational resilience. By combining industry insight with fresh thinking, we can build smarter, more adaptive systems that protect customers and maintain trust.”
Pinsent Masons’ Luke Scanlon added, “Strengthening operational resilience isn’t just a regulatory expectation, it’s a shared responsibility across the financial ecosystem. This challenge is a compelling example of how partnerships between fintechs and industry, can drive innovation that’s both agile and aligned with evolving regulatory frameworks.”
Dudley Building Society head of operational risk Samuel Kennedy commented, “For building societies, operational resilience is fundamental to maintaining the trust of our members and communities. This challenge is a chance to work alongside fintechs to explore innovative solutions that protect continuity of service, while ensuring we remain agile and responsive in a changing digital landscape.”
Aberdeen group deputy COO Will Lynch said, “Aberdeen’s involvement in FRIL has shown the power of collaboration in tackling complex regulatory and operational challenges. We are looking forward to contributing the next phase of FRIL in an increasingly important part of the regulatory landscape.”
The deadline for applications is 15 August, and FinTech firms globally are invited to take part.
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