The Financial Conduct Authority (FCA) has shared its plans for the next stage of fintech innovation, focusing on artificial intelligence, Open Finance, and helping high-growth firms expand.
At UK FinTech Week, Jessica Rusu, Chief Data, Information and Intelligence Officer at the FCA, explained how new technologies, especially “agentic commerce,” are expected to change financial services in major ways. She also confirmed the FCA’s ongoing support for innovation through practical regulatory steps.
Agentic Commerce: A Fundamental Shift
A key part of the FCA’s message is the idea of agentic commerce, where AI-powered systems make financial decisions and carry out transactions for consumers.
Rather than manually selecting products or services, consumers may increasingly:
- Set preferences, permissions, and constraints
- Allow AI systems to transact on their behalf within defined guardrails
- Benefit from improved outcomes such as better pricing, convenience, and long-term financial wellbeing
This evolution poses important questions around accountability, trust, and control, requiring what the FCA describes as a “fundamentally new approach.”
Expanding Support Through the AI Lab
The FCA also announced it will expand its AI Lab to help firms tackle technical and regulatory challenges together with the regulator.
Key developments include:
- A longer partnership with NVIDIA, giving firms more access to computing power and continued support after the programme ends
- A new group of firms, including Barclays, GoCardless, Experian, and UBS, will join AI Live Testing
- The Supercharged Sandbox will expand, with a second round opening on 5 May 2026
The FCA stressed that its approach to AI is still based on principles and focused on results, and that no new rules are planned for now. Instead, it will share examples of good and poor practice based on what it learns from the AI Lab.
Open Finance as the Foundation
Along with AI, the FCA pointed out that its Open Finance roadmap is important because it provides the foundation needed for the next generation of financial services.
Open Finance aims to:
- Bring together fragmented financial data, such as current accounts, pensions, and mortgages
- Enable secure data sharing through Smart Data frameworks
- Support more personalised and intelligent financial services
The FCA’s Smart Data Accelerator will be important in building this ecosystem, especially as agentic commerce grows.
Supporting Fintechs to Scale
Since growth is still a big challenge, the FCA has launched its Scale-Up Unit, which is now accepting expressions of interest.
This initiative aims to help solo-regulated firms as they:
- Expand into new markets
- Strengthen operational resilience
- Move from early momentum to sustained growth
This reflects a broader regulatory focus not just on enabling innovation, but on helping firms scale effectively within a regulated environment.
A Pro-Innovation Regulatory Approach
The FCA’s speech highlights the UK’s role as a top global fintech hub, supported by strong digital adoption, ongoing investment, and a proactive approach to regulation.
By focusing on AI, Open Finance, and support for scaling, the FCA is making it clear that it wants the UK to stay ahead in financial services innovation.
How Neopay Can Help
As innovation speeds up, firms need to balance speed, compliance, and risk management, especially when using AI and working within changing regulations.
Neopay supports fintechs and financial institutions by:
- Advising on regulatory strategy for AI and emerging technologies
- Supporting authorisation, governance, and compliance frameworks
- Conducting independent audits and assurance
- Helping firms scale confidently within regulatory expectations
- Providing support and overview of implementation of AI and other tech solutions within day-to-day operational activities
- Providing bespoke training workshops covering latest trends and developments in using AI and technology to prevent financial crime and enhance compliance frameworks
As the FCA increases its support for innovation, firms that are proactive about compliance will be in the best position to take advantage of new opportunities.
Contact Neopay today to find out how we can help with your growth and innovation plans.
