Actionable Research
FRIL is an initiative that is established on a demand-led principle, with FinTech Scotland leading the project as a strategic enabler of collaboration within the FinTech ecosystem across Scotland and the UK. In line with this principle, FRIL has launched a white paper series as an important channel for industry to inform the activities of FRIL on an open co-design basis. The white paper series will provide an exciting platform for cross-institutional collaboration between industry and academia on a prioritised set of themes identified by industry within the domain of financial regulation innovation. The priority themes are as follows:
- AI and Compliance - Utilising emerging technologies to simplify compliance process and monitoring.
- Consumer Duty - Supporting consumer duty obligations and enhancing financial inclusion outcomes.
- Financial Crime - Addressing future challenges of financial crime.
- ESG - Meeting new regulatory requirements, leveraging new data and new technologies.
Objective and Oversight
The objective of the white paper series is to deliver a unique set of targeted analyses and bespoke commentaries that will provide new insights to advance the development and adoption of financial regulation innovation in the UK and globally. The outputs of the white paper series will directly inform the priority challenges that the innovation call series will address, the translational research and impact that the actionable research programme will deliver, and the reskilling and upskilling that the skills development programme will provide.
Co-created with industry practitioners, the white papers will be designed for industry consumption and knowledge exchange. The white paper series will:
- Articulate complex problem statements informed by industry in the area of innovation for financial regulation compliance.
- Synthesise existing industry and academic literature and know-how to identify clearly where new contributions can made to existing knowledge.
- Propose a solutions framework and/or innovative solutions to the articulated problems and provide practice relevant use case demonstrators.
- Provide access to the open-source software libraries that implement the use demonstrators.
- Propose recommendations for practice and policy, the latter leveraging FRIL’s access into the UK’s regulatory bodies;
- Explore skills requirements and the most effective learning models to the topics covered.
The white paper series will be overseen by an experienced Industry Steering Group convened by FRIL to provide guidance and advice, ensuring optimal alignment of the studies with the goals of industry.
The white paper series provides a number of benefits to the wider stakeholders engaged with FRIL:
- Access to new evidence and insights in respect of digital innovation that can support your organisations’ financial regulation compliance obligations.
- The availability of use case demonstrators that bring to life the analyses covered by the studies, highlighting opportunities for the development or the adoption of financial regulation innovation.
- Participation in an active process of knowledge exchange between stakeholders on the topics covered by the white paper series.