Raidiam appointed technical delivery partner for FCA’s Smart Data sprints

Source: Raidiam

Raidiam, a global leader in secure Open Data ecosystems, has been appointed as technical delivery partner in a strategic collaboration with the Financial Conduct Authority (FCA) for the regulator’s forthcoming Smart Data technology sprints, accelerating Open Finance and Smart Data innovation across the UK financial sector.

The FCA’s Smart Data Accelerator is the technical programme supporting the UK’s national Open Finance strategy, enabling collaborative innovation through Smart Data sprints focused on real-world Smart Data solutions for financial services.

Announced by Colin Payne, head of innovation at the FCA at last week, the initiative launches with two Smart Data sprints focused on SME finance and mortgages.

Providing the technical infrastructure to enable these sprints is Raidiam Connect – an advanced sandbox and trust framework solution enabling rigorous testing of user journeys, dynamic rules, permissions, and standards in a secure, production-like environment. This accelerates validation, reduces risk, and builds confidence in future digital finance projects.

Raidiam’s partnership with the FCA extends this technical leadership, jointly advancing practical Open Finance and Smart Data solutions for consumers, businesses, and the wider economy.

Smart Data sprint participants, selected through a competitive application process, will work with Raidiam’s platform, NayaOne’s development environment, and synthetic datasets provided by BigSpark. Together, these form the backbone of the FCA’s Smart Data Accelerator sandbox infrastructure, enabling innovators to address practical, real-world challenges beyond basic sandbox testing.

Colin Payne, head of innovation at the FCA, 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.”

Barry O’Donohoe, co-founder and chief executive officer of Raidiam

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.”

By combining innovation with robust regulation, Raidiam and the FCA are setting a new benchmark for digital finance. Outcomes from the Smart Data sprints will inform future standards for Open Finance and Smart Data, opening new opportunities for safer, smarter financial services.

Applications are now open for both the SME Finance and Mortgages TechSprints. Interested parties can find details and apply online until 2 November 2025:

• SME Finance: https://events.fcainnovation.co.uk/SME_Finance_Sprint
• Mortgages: https://events.fcainnovation.co.uk/Mortgages_Open_Finance_Sprint

Raidiam is returning as Headline Partner of this year’s Open Banking Expo Awards. For more information about the awards, judging panel, and to book tickets – click here.

Further reading: Raidiam joins NayaOne Tech Marketplace