Raidiam, the secure open data ecosystem provider, is the new technical delivery partner for the Financial Conduct Authority’s (FCA) upcoming smart data technology sprints. The collaboration is part of the FCA’s Smart Data Accelerator, a technical programme supporting the UK’s national open finance strategy.
The initiative, announced by the FCA’s head of innovation, Colin Payne, at the London Tech Leaders Summit, will launch with two sprints focused on SME finance and mortgages. The programme is designed to accelerate innovation in open finance by enabling collaborative development of real-world smart data solutions.
A sandbox for real-world solutions
The technical infrastructure for the sprints will be provided by Raidiam Connect, the company’s sandbox and trust framework solution. This environment allows participants to test user journeys, dynamic rules, and permissions in a secure, production-like setting.
The FCA’s Smart Data Accelerator sandbox will also use NayaOne’s development environment and synthetic datasets provided by BigSpark. According to the announcement, this combination of tools will enable innovators to address practical, real-world challenges that go beyond the scope of basic sandbox testing. Participants for the Smart Data Sprints will be selected through a competitive application process.
Colin Payne, commented: “We’re delighted to announce a new partnership with Raidiam, providing our Smart Data Sprint participants access to a stable testing environment that mirrors real-world conditions. This is the first Sprint to have Raidiam’s technology at its core – supporting rapid, safe, and responsible experimentation to deliver better outcomes for consumers and the UK financial sector.”
Advancing the UK’s open finance strategy
The partnership aims to advance practical open finance and smart data solutions for consumers, businesses, and the wider UK economy. The outcomes from the sprints will be used to inform future standards for open finance and smart data.
Barry O’Donohoe, chief executive officer and co-founder of Raidiam, said: “The UK was first to set the global standard for open banking. To step forward into open finance and smart data, regulators and innovators must be able to test outcomes in realistic conditions. We’re proud to support the FCA in enabling practical, secure innovation that delivers genuine benefits for consumers and the wider market.”
Raidiam’s platform currently processes more than 12 billion API calls monthly for over 1,000 banks globally in open banking ecosystems, including those in Brazil and the UAE. Applications for both the SME Finance and Mortgages TechSprints are open until 2 November 2025.
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