Finexos accepted onto the FCA’s Innovation Pathways

Finexos’ AI-powered credit and affordably risk, analytics and data science platform has been accepted onto the Financial Conduct Authority’s (FCA) Innovation Pathways. Innovation Pathways is a service designed to support financial services firms in their journey to design and launch innovative products and services. Finexos joins Innovation Pathways in addition to the FCA’s Digital Sandbox. 

Innovation Pathways is for authorised firms, unauthorised firms that require authorisation and technology providers that are looking to deliver innovation to UK consumers or firms in the UK financial services market, from startups to established firms and banks and insurers. It aims to promote innovation by helping innovative firms understand how regulation relates to their activities and removing barriers to entry through ongoing monitoring of FCA rules.

Finexos Executive Director, Darren Smith, commented, “I am delighted that Finexos has been accepted into the FCA Innovation Pathways. Finexos embraces the opportunity to collaborate with regulatory authorities to promote financial inclusion and deliver enhanced solutions for all stakeholders. Through Innovation Pathways, Finexos will further innovate its credit decisioning and monitoring processes to advance financial inclusivity, enhance outcomes for borrowers and lenders, reduce default rates, improve affordability checks, detect vulnerabilities, lower customer acquisition costs, offer more accessible interest rates, and Consumer Duty compliance.”