UK-based fintech NayaOne has been selected by the Financial Conduct Authority (FCA) to develop and manage the Digital Sandbox program, which offers a secure environment for fintech companies to test their products.
Facts
- NayaOne has been chosen to build and operate the FCA’s Digital Sandbox initiative.
- Digital Sandbox is a secure platform for fintech companies to build and test their products.
- Companies are evaluated based on their potential to impact the financial services industry.
- NayaOne’s digital transformation platform and synthetic data technology will help fintech companies develop and test their products more efficiently.
- NayaOne works with banks, insurance companies, tech start-ups and industry regulators to build products and services at lower cost and in less time.
- NayaOne offers a fintech marketplace, a data marketplace and experimentation environments through a single point of access.
- Proofs of concepts can be delivered in six weeks, compared to the industry standard of nine months.
