Digital Sandbox becomes a permanent fixture in the UK

Starting from 1 August 2023, the Digital Sandbox will transition from a temporary initiative to a permanent platform, expanding its reach to accommodate a wider array of inventive businesses, start-ups, and data providers. The Digital Sandbox, a testing environment designed to facilitate early-stage product development, has garnered success through two successful pilot phases and TechSprints.

In its capacity as a testing ground for experimentation through proof of concepts, the Digital Sandbox has been instrumental in supporting firms during the crucial initial phases of product development. This platform not only fosters innovation for entrepreneurs and startups but also extends an invitation to data providers, encouraging them to list their data on the platform. In doing so, data providers stand to gain valuable traffic and insights into the usage of their data.

The positive impact of the Digital Sandbox is evident, as more than half of the previous participants from small to medium enterprises who engaged in the pilot programmes and TechSprints experienced significant developments. These include the successful launch of new products, the securing of funding and partnerships, and the attainment of industry accolades and recognitions.

Beyond its immediate impact on innovation, the permanent establishment of the Sandbox is part of a larger strategy to provide market-facing tools and initiatives that support the introduction of groundbreaking products and services. Moreover, it aligns with the overarching objective of bolstering economic growth and enhancing international competitiveness.

Key features of the permanent Digital Sandbox include:

• High-Quality Datasets and APIs: Participants will have permanent access to an extensive array of over 200 synthetic, public, or anonymised datasets and more than 1000 APIs. These resources cover a wide range of domains, including payments and transactions data, social media data, investment, Companies House data, and credit data;

• Robust Data Security Protection: The platform ensures data security by incorporating an integrated development environment, allowing for experimentation while safeguarding the integrity of the data assets;

• Collaborative Platform: The Digital Sandbox fosters an environment of diversity and collaboration, facilitating the exchange of ideas, learnings, and insights among teams, observers, and mentors;

• Observation Deck: Interested parties, including regulators, incumbents, and others, will have the opportunity to observe ongoing testing at a technical level.

How to Apply:

As of 1 August 2023, interested parties can apply for access to the permanent Digital Sandbox, choosing from a selection of themes that include banking, investment, lending, payments, insurance, pension, wholesale buy-side, wholesale sell-side, and cross-sectors. To ensure the platform serves its intended purpose and audience, applicants will be assessed based on specific criteria, including scope, genuine innovation, consumer benefit, readiness, and the need for support. The approval process is designed to be efficient, with decisions expected within a maximum of 4 weeks.

With the Digital Sandbox becoming a permanent fixture, the stage is set for continued innovation, growth, and economic advancement, as pioneering entrepreneurs and businesses seize the opportunity to test, validate, and launch cutting-edge solutions within a supportive and secure environment.