Those that work in the professional and financial services will know just how much the sector has been – and continues to be – transformed by digital technologies. Enhancing productivity, competitiveness, resilience and access.
While FinTech has thrived because of it (the clue’s in the name…), other areas, such as savings, pensions and investments, and loans, require a little more patience and attention when it comes to digital technology.
As such, Innovate UK, a division of UK Research and Innovation, has launched a new £7 million competition to accelerate the development and implementation of digital solutions in professional and financial services.
The competition, which begins on September 5th, is open to both single applications and joint projects, with funding ranging from £50,000 to £500,000 (depending on whether the idea is single or collaborative).
Today we’re publishing our Strategic Delivery Plan, which sets out our long-term ambitions and intended outcomes for the next three years. The SDP shows how our work delivers against the UKRI strategy and mission. 1/3
The financing is part of a new three year programme to promote the development and implementation of sophisticated digital solutions, as well as to engage in innovation in order to modernise and meet future needs in professional and financial services.
The ‘Next Generation of Professional and Financial Services’ programme is a continuation of the ‘Industrial Strategy Challenge Fund Next Generation Services Challenge’, which is being led by Innovate UK’s Challenge Director Stephen Browning.
Stephen said this: “I am delighted to expand on the work we started through the Next Generation Service Challenge and open up the opportunity to adopt crucial technologies within the professional and financial sectors. This funding opportunity is a great way to kick start this new programme.”
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