{"id":31059,"date":"2026-06-04T07:40:27","date_gmt":"2026-06-04T07:40:27","guid":{"rendered":"https:\/\/microvibenews.com\/?p=31059"},"modified":"2026-06-04T07:40:27","modified_gmt":"2026-06-04T07:40:27","slug":"se-funding-research-into-financial-innovation-daily-business","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=31059","title":{"rendered":"SE funding research into financial innovation \u2013 Daily Business"},"content":{"rendered":"<p><\/p>\n<div>\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/01\/Aleks-Tomczyk-and-Callum-Murray-1.png\" alt=\"Aleks Tomczyk and Callum Murray\" class=\"wp-image-188343 lazyload\" style=\"width:794px;height:auto\"\/><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" width=\"794\" height=\"494\" src=\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/01\/Aleks-Tomczyk-and-Callum-Murray-1.png\" alt=\"Aleks Tomczyk and Callum Murray\" class=\"wp-image-188343 lazyload\" style=\"width:794px;height:auto\" srcset=\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/01\/Aleks-Tomczyk-and-Callum-Murray-1.png 794w, https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/01\/Aleks-Tomczyk-and-Callum-Murray-1-300x187.png 300w, https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/01\/Aleks-Tomczyk-and-Callum-Murray-1-768x478.png 768w, https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/01\/Aleks-Tomczyk-and-Callum-Murray-1-600x373.png 600w\" sizes=\"(max-width: 794px) 100vw, 794px\"\/><figcaption class=\"wp-element-caption\"><em>Lab solutions: Aleks Tomczyk and Calum Murray<\/em><\/figcaption><\/figure>\n<p class=\"has-medium-font-size wp-block-paragraph\">Scottish Enterprise is funding further development of technology aimed at tackling issues such as financial crime and the adoption of artificial intelligence.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">It is injecting \u00a33.18 million into the Financial Regulation Innovation Lab (FRIL) to deepen collaboration among academia, industry and regulators.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Led by FinTech Scotland in partnership with the University of Strathclyde, FRIL addresses industry needs and emerging regulations around the use of AI, open data and digital assets. <\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">To date, FRIL has supported 120 fintech SMEs to accelerate solutions, enabled \u00a328m in committed private investment and delivered a projected 6:1 economic return on investment for every \u00a31 of public funding.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Calum Murray, CEO and founder at compliance platform Amiqus, noted: \u201cThe potential impact delivered by FRIL over the next three years to the broader Ecosystem is enormous.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">\u201cThanks to a previous FRIL financial crime innovation call, we were able to build, pilot and take to production new capability to directly support Virgin Money with its new business onboarding journeys.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">\u201cThis three-year commitment effectively sets the stage for collaborative and rapid progress across both financial services developing new capabilities with the support of a wide range of fintechs going forward. It\u2019s a win-win on all accounts.\u201d<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Jane Martin, managing director innovation and investment at Scottish Enterprise, said: \u201cFRIL is a shining example of how collaboration between industry, academia and regulators can make a real impact.\u201d<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Aleks Tomczyk, chief executive, FinTech Scotland, added: \u201cThe opportunity from the current and forecast future growth of fintech is huge.<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">\u201cFRIL\u2019s success evidences the strategic value of innovation to the economy and the strength of our fintech cluster in simultaneously delivering growth and better outcomes for consumers.\u201d<\/p>\n<p class=\"has-medium-font-size wp-block-paragraph\">Derek Shanks, technology platform lead at Lloyds Banking Group, commented: \u201cWe\u2019ve supported three FRIL innovation calls as a challenge partner and have seen first-hand the value of this model. It brings together the right mix of expertise, technology and challenge to turn ideas into real solutions.\u201d<\/p>\n<p><!-- Simple Share Buttons Adder (8.5.5) simplesharebuttons.com -->           \t            <\/div>\n<p><script>\n!function(f,b,e,v,n,t,s)\n{if(f.fbq)return;n=f.fbq=function(){n.callMethod?\nn.callMethod.apply(n,arguments):n.queue.push(arguments)};\nif(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\nn.queue=[];t=b.createElement(e);t.async=!0;\nt.src=v;s=b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t,s)}(window,document,'script',\n'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n fbq('init', '1192059580980274'); \nfbq('track', 'PageView');\n<\/script>#funding #research #financial #innovation #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lab solutions: Aleks Tomczyk a&hellip; <\/p>\n","protected":false},"author":1,"featured_media":31060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[18034,18035,266,265,121,18036,3669,2040,570,195],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/31059"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31059"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/31059\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/31060"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}