Financial Inclusion TechSprint

Applications for Observers

We have a limited number of places available for the in-person Live Demo Day Showcase, we will let you know the outcome of your application shortly after the deadline has closed. 

Apply for a place by Monday, 13 May 2024

We are holding a 3-month cohort-based Financial Inclusion TechSprint, designed to tackle challenges spanning not only access to financial services but also issues encountered throughout the consumer journey. The TechSprint will run from Thursday, 7 March to Thursday, 30 May 2024. 

The launch event (kick-off and bootcamp) will be held online via MS Teams, culminating in live, in-person presentations as part of the Showcase Demo Day at the Technology and Innovation Centre (TIC) - University of Strathclyde, Glasgow, Scotland on Thursday, 30 May 2024. 

The aim of this TechSprint is to explore technological solutions that can dismantle barriers to inclusion, particularly for consumers vulnerable to exclusion from financial products and services. We aim to address issues such as the difficulty some consumers face in obtaining even a basic bank account, or the impact of disabilities on accessing fundamental financial services. 

We are seeking solutions that can help address some of the following aspects: 

1. Enhancing the prospects of acceptance for individuals facing barriers (such as lack of identification or inadequate credit ratings) and thereby enabling their access to essential financial services 
2. Aiding firms in guiding consumers whose applications for essential financial services are declined or who face exclusion at any stage of the consumer journey, directing them towards appropriate and affordable alternatives 
3. Leveraging technology, including Artificial Intelligence (AI), to assist firms in ensuring good outcomes across diverse consumer groups. This involves avoiding inadvertent discrimination based on characteristics such as age, gender, ethnicity (or proxies for those characteristics such as names or postcodes), or charging additional costs to economically disadvantaged individuals.  

This will build upon the work undertaken in the Open Finance PolicySprint and the Consumer Duty TechSprint. Additionally, it aligns with the FCA’s collaborative efforts with Fair4All Finance, aimed at enhancing the sustainable supply of affordable credit. 

This TechSprint is centered around 3 problem statements: 

• Problem Statement 1: What technological solutions can help to increase the probability of consumers being accepted when they apply for everyday financial services, such as basic bank accounts, credit or insurance products?   
• Problem Statement 2: What technological solutions can help to deliver positive outcomes for consumers when a firm declines their application for a product, or when at a subsequent point in the consumer journey they become excluded because the product is no longer suitable for their needs?  
• Problem Statement 3: How can technology, including AI, be deployed to ensure that firms deliver good outcomes across the board to groups of consumers who have been excluded or not well-served in the past, particularly in retail banking, payments, credit and insurance? 

This TechSprint has a ‘Bring Your Own Data’ format, as each solution will have different and specific data needs. Teams are encouraged to bring their own data into the TechSprint, with some datasets and resources also being available on the FCA Digital Sandbox platform. 

More information can be found in our Financial Inclusion TechSprint - Participant Pack.

If you are interested in engaging with the Financial Inclusion TechSprint, there will also be opportunities for involvement as a mentor or observer. Mentors will work with the participating teams throughout the TechSprint, sharing their subject matter expertise through 1-1’s or through broader teach-ins to all TechSprint participants. Both mentors and observers will be invited to attend the in-person Showcase Demo Day at the Technology and Innovation Centre (TIC) - University of Strathclyde, Glasgow, Scotland on Thursday, 30 May 2024 in Glasgow, Scotland.  

Apply for a place by Monday, 13 May 2024.

We have a limited number of places available for the in-person Live Demo Day Showcase, we will let you know the outcome of your application shortly after the deadline has closed.

We process your personal data in accordance with data protection legislation. Please refer to the FCA Privacy Policy and privacy notice for FCA news, events and groups for more information. If you have any concerns or require further information, please contact TechSprints@FCA.org.uk. For this event only, your application/registration data will be shared with our event partners FinTech Scotland and the Technology and Innovation Centre - University of Strathclyde for the purposes of application processing and security at the venue.