UK’s FCA selects NayaOne to build and operate Digital Sandbox platform
UK-based fintech NayaOne has received the tender to build and operate the Financial Conduct Authority’s (FCA) Digital Sandbox, a platform designed to promote innovation in financial services.
NayaOne chosen by FCA to build Digital Sandbox
The Digital Sandbox initiative provides a “safe and secure” environment for companies and start-ups to build and test their products. The program involves a “rigorous selection process” that evaluates companies based on their potential to make a “significant” impact on the financial services industry.
“We believe that our digital transformation platform and synthetic data technology will be a valuable asset in helping fintech companies to develop and test their products more efficiently and effectively,” says Karan Jain, CEO of NayaOne.
NayaOne works with banks, insurance companies, tech start-ups and industry regulators to build products and services “more quickly and at lower cost”.
Through a single point of access, NayaOne offers a fintech marketplace, a data marketplace and experimentation environments that deliver proofs of concepts “in six weeks rather than nine months”.
