Five Fintechs Awarded £50,000 Grants to Strengthen Operational Resilience Across the UK Financial Sector
The Financial Regulation Innovation Lab (FRIL) is pleased to announce the five organisations selected to receive grants following its latest Innovation Call. These grants will support the development and deployment of solutions that strengthen industry resilience, operational capability, and regulatory responsiveness.
The Innovation Call, developed in collaboration with FinTech Scotland, Supertech WM, the University of Glasgow and the University of Strathclyde concluded on the 2nd of October at a Showcase Day.
Over a 6 week programme, innovators worked with industry leaders Sword Group, NatWest, Morgan Stanley, M&G, Pinsent Masons, Tesco Bank, Aberdeen, KPMG, EY, Dudley Building Society, Tipton & Coseley Building Society and Unity Trust Bank, to develop, refine and adapt their solutions to real industry needs.
Following the showcase Day, 5 Scottish companies were selected to receive £50,000 each to develop their solutions further. These firms will continue to work with industry partners throughout the grant period to support their development. Those firms are:
Profylr
Profylr builds intelligent, AI-powered solutions that connect the minutiae of regulation with firms’ data, transforming compliance from reactive oversight into predictive intelligence. Powered by their Information Genetics® proprietary technology, Profylr makes compliance live, linked, and undeniable giving firms the clarity, confidence, and control regulators can trust.
An intuitive, easy to use solution that secures data across Cloud and updates its security classification on demand, protecting it from threats like ransomware even when out of sight or control of its owner. Acclaimed by cybersecurity leaders as the “next essential building block in secure Cloud,” Ionburst delivers what no Cloud provider can, a unified secure Cloud.
HAELO
HAELO delivers automated global regulatory horizon scanning. It tracks changes across hundreds of regulators and millions of documents, distilling actionable insights, reducing manual burden, and helping firms stay ahead of regulatory changes.
Continuity2
Continuity2 Ltd is a provider of a multi disciplined software platform for operational resilience. The platform includes business continuity, ITDR, enterprise risk and incident management.
Lupovis
Lupovis delivers real-time contextual cyber security threat intelligence enabled by a deception environment, providing early identification of advanced attacks and insider threats while reducing false positives.
Nicola Anderson, Chief Executive of FinTech Scotland, said:
“Operational resilience is essential for a trusted financial services industry. Through the Financial Regulation Innovation Lab, we’re seeing fintech innovation directly address these priorities, shaping practical solutions that strengthen the UK’s financial infrastructure. The quality of collaboration between innovators, industry partners and regulators in this programme demonstrates the power of purposeful innovation.”
Rob Mossop, COO, Financial Services and International, Sword Group said:
“Sword is proud to have supported this innovation call and are looking forward to seeing how the successful grant recipients will develop their ideas into practical solutions. Operational resilience is a critical concern for customers across Financial Services, and it has been exciting to work with Fintech Scotland and fellow partners – both industry and academic – to see how the participating organisations have addressed critical use cases with innovative solutions and a passion for building more resilient financial infrastructure.”
Building on the success of this operational resilience programme, FRIL has now launched its next UK-wide Innovation Call focused on the future of Wealth support and advice.
Innovating firms across the UK are encouraged to apply and collaborate with industry partners to shape the future of inclusive, data-driven financial advice and guidance.
Anne Lanc – Co-Founder, Ionburst said:
“We’re delighted and honoured to be selected to receive the grant to develop our solution further. FRIL was a great opportunity for us to connect with a wide range of Financial Institutions and advisors to both understand their specific challenges, and showcase Ionburst’s cutting edge innovation in addressing a problem plaguing digital economies globally – how to secure, protect & recover data in any Cloud. FRIL was a great experience, very well run and one I’d recommend to other Fintechs with relevant solutions”
Rhona Kennedy, Head of Business Development, C2:
“FinTech Scotland’s FRIL initiative is an amazing opportunity to build solid relationships, gain feedback on products and insight into the incredible talent and ambition in the Scottish FinTech community. The funding is amazing, but it is the partnerships and support which really make this programme worthwhile.”
Mick O’Connor, Founder, HAELO:
“FRIL was a gamechanger for HAELO. To be able to attend deep dive sessions with customers and directly hear their candid experiences is commercial gold dust”
Caroline Steel, COO, Profylr:
“The FRIL challenges are instrumental to fintech growth in Scotland. The opportunity to gain further industry insight and collaborate with a strategic partner is invaluable.”
Ivan Andonovic, CSO, Lupovis:
“FRIL provides evolving companies wishing to secure market traction in the financial sector such as Lupovis with a co-development environment with end users that allows the creation of fit-for-purpose solutions that reduce the barrier to adoption.”
The Financial Regulation Innovation Lab is part of the larger Glasgow City Region Innovation Accelerator programme. Led by Innovate UK on behalf of UK Research and Innovation, the pilot Innovation Accelerators programme invested £100m in 26 transformative R&D projects between 2022-25 to accelerate the growth of three high-potential innovation ecosystems – Glasgow City Region, Greater Manchester and West Midlands. The programme was boosted by an additional £30m of public funding for 2025/26 spread equally across the regions. Innovation Accelerators is piloting a new model of R&D decision making that empowers local partnerships to harness innovation to drive regional economic growth, attract private investment, and develop future technologies.
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