University of Strathclyde: Global Financial Firms to Collaborate in New Innovation Challenge

Working in collaboration with EY, Morgan Stanley, Lloyds Banking Group, HSBC, Barclays, Phoenix Group, Sopra Steria, Equifax, Virgin Money and abrdn, the innovation challenge invites innovative companies from across the world to apply for funding of up to £50,000.

The challenge focuses on the best use of data and identifying new data sources that can help address critical Environmental, Social, and Governance (ESG) questions. It invites innovative enterprises to develop data led solutions and technology enabled approaches to new ESG regulatory requirements, helping drive responsible outcomes for people and the environment.

The challenge will run for three months, with successful applicants working alongside some of the leading global financial services firms, learning about challenges, their ways of working and how to best integrate solutions within their businesses. Successful applicants will also be able to access support and inputs from industry partners to help develop their solution further.

Support innovation

The programme is enabled by FRIL, which works to support innovation and ground-breaking solutions to the increasing demand of new financial regulations, using a collaborative approach working across industry, academia, regulators, experts and innovators.

The FRIL will utilise the expertise from leading academic experts in climate, data and technology from across the Universities of Strathclyde and of Glasgow to support the development of the programme.

Nicola Anderson, CEO at FinTech Scotland said: “This programme highlights two key attributes for driving responsible innovation, where collaborative action focused on priority industry needs will accelerate positive outcomes. I’m looking forward to seeing the innovation outcomes from this work have a positive impact for the environment and for society”.