Technology
By Pankaj K
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Open Finance Gets the Green Light. Open Finance is another piece of the puzzle. Rusu called it the framework for a more intelligent…
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Solo-Regulated Firms Get Their Own Path. The FCA is also opening up its Scale-Up unit for solo-regulated firms.
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The UK's financial watchdog wants fintech firms to move faster on artificial intelligence. Jessica Rusu spoke at the IFGS conference in London on April 22, 2026.
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Rusu said agentic commerce will change how people make financial decisions and complete transactions. It's a pretty big shift.
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The expansion of the AI Lab means more resources. More guidance. More collaboration between the FCA and the firms trying to build the next generation of financial products.
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The FCA is also opening up its Scale-Up unit for solo-regulated firms. Expressions of interest are being accepted now.
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Solo-regulated firms tend to be smaller. They move fast but don't always have the compliance infrastructure of bigger players.
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Rusu's comments at the IFGS conference made it clear that agentic commerce isn't some distant future concept. It's happening now.
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Related: FCA Picks Barclays, UBS Among Eight Firms for AI Testing Round
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The regulator's embrace of Open Finance is seen as a key part of this transformation. By creating a standardized framework for data sharing and intelligent financial services,…
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The FCA's approach is proactive rather than reactive. Instead of waiting for problems to emerge and then cracking down, the agency is trying to work with firms as they develop…
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Agentic commerce will require firms to fundamentally rethink how they handle transactions. It's not just about automating existing processes.
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The Scale-Up unit's invitation for expressions of interest is a direct call to action for solo-regulated firms.
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Details on the AI Lab's specific offerings remain unclear. The FCA hasn't spelled out exactly what kind of support firms will get or how the Lab will operate day-to-day.
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