Raidiam, a global leader in secure open data ecosystems, has been appointed as technical delivery partner in a strategic collaboration with the Financial Conduct Authority (FCA) for the regulator’s forthcoming smart data technology sprints, accelerating open finance and smart data innovation across the UK financial sector.
The FCA’s Smart Data Accelerator is the technical programme supporting the UK’s national open finance strategy, enabling collaborative innovation through Smart Data Sprints focused on real-world smart data solutions for financial services.
Announced by Colin Payne, Head of Innovation at the FCA at last week’s London Tech Leaders Summit, the initiative launches with two Smart Data TechSprints focused on SME finance and mortgages.
Providing the technical infrastructure to enable these sprints is Raidiam Connect, an advanced sandbox and trust framework solution. This platform enables the FCA and innovators to rigorously test production-level financial journeys, dynamic rules, and permissions. For the first time, regulated participants can simulate complex, real-world scenarios in a secure, production-like environment – accelerating standards validation and helping shape practical, industry-ready open finance solutions.
The launch includes two Smart Data TechSprints focused on SME finance and mortgages. Participants, selected through a competitive application process, will leverage Raidiam’s technology alongside NayaOne’s development environment and synthetic datasets provided by BigSpark. Together, these form the backbone of the FCA’s Smart Data Accelerator sandbox infrastructure, enabling innovators to address practical, real-world challenges beyond basic sandbox testing.
This collaborative approach, built on proven sandbox technology, allows the FCA and Raidiam to advance secure, interoperable open finance standards. It reflects the broader regulatory shift towards innovation, robust consumer protection, and cross-sector collaboration – priorities under the FCA’s current strategy and the UK’s Smart Data Accelerator programme.
Barry O’Donohoe, CEO and Co-Founder of Raidiam, said:
The UK was first to set the global standard for open banking. To step forward into open finance and smart data, regulators and innovators must be able to test outcomes in realistic conditions. We’re proud to support the FCA in enabling practical, secure innovation that delivers genuine benefits for consumers and the wider market.
Colin Payne, Head of Innovation at the FCA, commented:
We’re delighted to announce a new partnership with Raidiam, providing our smart data sprint participants access to a stable testing environment that mirrors real-world conditions. This is the first Sprint to have Raidiam’s technology at its core - supporting rapid, safe, and responsible experimentation to deliver better outcomes for consumers and the UK financial sector.
Applications are now open for the SME Finance and Mortgages TechSprints. Innovators, fintechs, and financial services leaders can apply until 2 November 2025:
This announcement underscores how trusted collaboration, technical excellence, and bold regulatory leadership are shaping the future of open finance and smart data in the UK. Outcomes from the FCA’s TechSprints will inform future standards and open new opportunities for smarter, safer financial services sector-wide.
If your organisation is driving innovation in finance, data standards, or digital transformation, Raidiam is ready to help you unlock new opportunities. Get in touch with our team today.