A coalition of leading financial institutions including Sword Group, Natwest, Morgan Stanley, Dudley Building Society, The Tipton, Unity Trust Bank, M&G, Pinsent Masons, Tesco Bank, Aberdeen and KPMG have joined forces to launch a UK-wide innovation challenge focused on strengthening operational resilience across the financial sector.

Five fintech firms have each been awarded £50,000 to propel developments that support financial inclusion, accelerate financial resilience and deepen consumer engagement in financial services.

As part of the Financial Regulation Innovation Lab, a UK wide innovation call aiming to create an environment for collaborative innovation in order to tackle financial crime challenges is launched.

Fintech Scotland, SuperTech WM and eight industry collaborators are announcing the launch of a new innovation challenge aim at enhancing consumer outcomes with technology and data.