• The Financial Conduct Authority (FCA) has issued a "Call for Input" to gather views about regulations and policies in the UK or at EU level that restrict innovation for digital and mobile solutions. It also asks for views on whether new regulations could be introduced to encourage innovation in the industry.
  • Digital solutions have become a top priority in the UK and at EU level. For example, the Tax Incentivised Savings Association's digital passport project looks to create a universal solution for consumers in the digital financial services industry and the European Commission has recently launched the Digital Single Market Strategy.  There is also increasing demand for mobile solutions, a subset of digital solutions. In the UK, the use of online banking services has tripled with monthly usage at 8% in 2010 jumping to 27% by 2014.
  • The focus on digital and mobile solutions is an extension of the FCA's wider work to uncover the difficulties the current regulatory system poses for innovator businesses and consider how innovation can be encouraged to promote competition in the industry.
  • The Call for Input will close on 7 September 2015 and the FCA will be making a statement in autumn 2015 about the steps it will be taking.