We piloted our first TechSprint event in April 2016. The aim was to identify potential solutions to access issues in financial services. We explain how the event worked.
This event was held to support our Occasional Paper on Access to financial services[1]. We believe it was a global first for a regulator to hold an event of this kind.
Hosted by KPMG, the event focused on developing practical outcomes using API-accessible data to help overcome consumer access issues to appropriate financial services. Participants had access to the largest anonymised customer data test bed in Europe.
Ten organisations participated, six of whom took part in the development event itself and others performed supporting (hosting and technology) and judging roles. Three of the ideas generated are now being explored commercially as products to bring to market. This event showed the benefits of collaboration between traditional financial services providers and the FinTech and RegTech communities.