In partnership with
In collaboration with
Apply to the FRIL Innovation Call: Future of Wealth Advice
Apply to the FRIL Innovation Call: Future of Wealth Advice
Applications are open until 3 November 2025 for the FRIL Innovation Call.
We welcome applications from companies at any stage of development that can help address the challenges highlighted below. Selected participants may receive grant awards of up to £50,000 to develop their propositions. View the full grant eligibility criteria.
If your solution can help firms navigate the advice frontier responsibly, we want to hear from you.
Help shape the future of wealth support and advice
Help shape the future of wealth support and advice
We are inviting fintech innovators to join us in exploring the Advice-Guidance Boundary Review (AGBR) one of the most important regulatory shifts in financial services today.
This challenge is about finding new ways to support consumers in making informed financial decisions, delivering more accessible and tailored wealth support, while staying within evolving regulatory expectations.
You will get the opportunity to work with leading financial institutions, regulators, and academics, gaining unique insight into how technology and data-driven innovation can bridge the “advice gap” and improve outcomes for millions of consumers.
In collaboration with industry leaders and regulators, we have identified key challenges and opportunities for proposition and product development.
We’re looking for innovative solutions that can help financial services firms:
Deliver tailored support at scale through AI-driven, compliant tools.
Design digital solutions that deliver simplified advice at scale, in an easy, quick and affordable way.
Rethink customer disclosures as interactive, user-friendly experiences.
Enhance consumer education, literacy, and trust in ways that are engaging, inclusive and tailored to everyone’s journey and support decision making.
Deploy compliance tools that monitor and manage regulatory risk at the advice boundary.
Deliver tools that empower consumers with scenario modelling without crossing into advice.
Design innovative data solutions in line with open finance, helping customers see their finances holistically.
What will I get if I’m selected?
Work alongside some of the leading financial services firms in the UK
Learn from them about their challenges, their ways of working and how to best integrate your solutions within their businesses.
You may be eligible for a grant award up to £50,000 to develop your solution further.
Whether it’s tools for colleagues, analysis of data or the development of new functionalities, this could help you advance your proposition.
Expand your network through connections with industry peers, regulators, and academics.
Deepen your understanding of the evolving operational resilience regulatory landscape.
Learn about the evolving regulatory landscape and the challenges financial services firms are facing in the deployment of innovative solutions whilst ensuring regulatory adherence.
Access information and insights from our industry partners.
Access support and inputs from our industry partners to help develop your solution.
Test your solutions in a safe and de-risked environment and accelerate adoption by co-creating market-ready, compliant, and consumer-centric solutions.
Timeline
Competition opens online
23:59 Competition closes
Successful Applicants notified and next steps detailed
Kick Off Day: Industry Challenge Partners briefing day to successful Fintech Applicants (Fintech Requirement: all day in person, venue in Glasgow)
Virtual sessions with strategic partners organised by FRIL team
Virtual Pitch sessions for funding
Fintechs Showcase/Demo Day for Applicants to pitch their solutions to judging panel (Fintech Requirement: all day in person, in Glasgow)
Innovation Call outcomes announced
Interested?
We are organising three Q&A sessions if you have questions before applying:
15 October 2025 – register here.
23 October 2025 – register here.
30 October 2025 – register here.
Who are FinTech Scotland?
Who are FinTech Scotland?
Learn about FinTech Scotland here.
Who are SuperTech?
Who are SuperTech?
Learn about SuperTech here.
What is the Financial Regulation Innovation Lab?
What is the Financial Regulation Innovation Lab?
The Financial Regulation Innovation Lab (FRIL) is an industry-led collaborative research and innovation programme focused on leveraging new technologies to respond to, shape and help evolve the future regulatory landscape in the UK and globally. Helping to create new employment and business opportunities, and enabling future talent.
FRIL is a partnership between FinTech Scotland, a cluster management organisation that encourages innovation and collaboration within the financial services sector, and the University of Strathclyde (UoS) and the University of Glasgow (UoG).
FRIL will deliver four workstreams to support this: actionable research, innovation calls, skills and education, and knowledge exchange.
Funded by the Glasgow City Region Innovation Accelerator programme (led by Innovate UK on behalf of UK Research and Innovation), FRIL will deliver this wide-ranging and ambitious agenda led by, and for the use of, the financial sector.
FRIL provides an environment for participants to engage and collaborate on the dynamic demands of financial regulation. This will allow them to explore, test and experiment with new technologies, build confidence in solutions and demonstrate their ability to meet regulatory standards worldwide.
How does the award funding work?
How does the award funding work?
To be eligible to receive the award funding the award money must be used to drive forward innovation in the UK with a focus on Scotland. Companies who do not meet these criteria can participate in the Innovation Call with potential benefits from engagement and exposure but will not be eligible for Grant funding.
The award funding is provided through the University of Strathclyde.
View full guidance and eligibility criteria.
Please contact FRIL@fintechscotland.com if you have any queries relating to this.
Is there a registration fee or any cost associated with participating?
Is there a registration fee or any cost associated with participating?
No, there are no registration fees and no direct costs to participate. Travel to Glasgow will be required for events, travel costs will not be re-imbursed.
Can I submit multiple entries or proposals?
Can I submit multiple entries or proposals?
If your company would like to respond to more than one innovation challenge you are welcome to submit individual application forms for each.
How are winners selected?
How are winners selected?
An assessment panel has been made up of industry representatives, fintech experts and academics. The panel will judge the information in the applications and the pitches based on assessment criteria and will make a collective decision.
Will my intellectual property be protected during the innovation call?
Will my intellectual property be protected during the innovation call?
All IP will remain under your ownership. The call invites you to present your proposition to the judges in as much detail as you feel comfortable with.
Can I seek external funding or investment for my idea during or after the challenge?
Can I seek external funding or investment for my idea during or after the challenge?
FRIL has a requirement to ensure that any secondary funding remains compliant with the Minimal Financial Assistance (MFA) rules of the UK’s Subsidy Control Framework. MFA has a financial threshold so no recipient can receive more than £315,000 over a rolling 3 financial year period.
If you have received more than £315,000 of public funding in the last 3 years you will not be eligible for funding.
Please contact FRIL@fintechscotland.com if you have any queries relating to this.
Will there be any opportunities for networking with industry experts or potential investors?
Will there be any opportunities for networking with industry experts or potential investors?
Yes, FinTech Scotland and SuperTech has a broad partner network of academia, industry and investors. Opportunities could be as broad and as varied as pitching to the assessment panel made up of relevant industry experts, presenting at events and introductions to other relevant businesses ranging from SMEs and large enterprises.
Can I participate in the challenge if I am not from Scotland or the West Midlands?
Can I participate in the challenge if I am not from Scotland or the West Midlands?
There are two parts to answering this question.
We would be delighted for ANY business to apply for this challenge. Any business that believes they can make a meaningful contribution to the challenge statements is welcome to participate in the programme.
That said, one specific aim of the FRIL is to stimulate fintech and financial services activity in Scotland. As such it is a requirement that the additional grant funding is spent on activities that can indicate what benefits any proposal may be expected to produce for Scotland with a focus on Glasgow.
Please outline in your submission how your application meets this requirement if you want to be considered for the potential £50k awards.
I have a question that is not included above, who should I contact?
I have a question that is not included above, who should I contact?
For queries, please contact FRIL@fintechscotland.com.
Drop‑in Q&A sessions are also available for applicants — registration links are listed above.
Footnote
The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information visit https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus