The Financial Regulation Innovation Lab (FRIL) is a Glasgow based, and UK and globally recognised, centre of excellence in financial regulation, leveraging new technologies and the talent, expertise and experience that the Glasgow City Region boasts. It creates a unique environment to accelerate fintech innovation and adoption, bringing together FinTech entrepreneurs, large UK and global financial and professional services firms, regulators, universities, and the Third Sector. The outputs aim to revolutionise financial regulation, and address issues such as, financial exclusion, financial crime, sustainable financing, SME financing and more.

FRIL’s programme of work focuses on the application of technologies to drive efficiencies in financial regulation compliance, that sees the UK’s FinTech and financial services sector spend over £8.7bn annually. FRIL will enable Glasgow, as an anchor for the UK, to deliver: (1) an exemplar financial regulation innovation programme; (2) a digital sandbox to advance innovations; (3) a world-class actionable research programme; (4) a pioneering regulatory technology programme; (5) a skills programme supporting UK regulators and risk professionals; and (6) influence on financial regulation policy.