Future Finance 4 All

The project adopts a mission led approach to accelerate innovation adoption in Mid-Tier organisations, and small and medium-sized enterprises , in the UK Financial Services (FS) Sector. Working across the four UK home nations, it will focus on enhancing productivity and global competitiveness through the development of an understanding, from a social science perspective, of the drivers and obstacles to innovation uptake in the target group. We will adopt the Quadruple Helix Model of Innovation, that brings together government, universities, business and societal participants to underpin the development of an Innovation Adoption Accelerator. The Accelerator will be delivered in three distinctive phases over two years, Phase 1 – Local, Phase 2 – Regional, Phase 3 – National. By overcoming the market failures that are holding back innovation uptake, we will unlock productivity and levelling up gains across the four UK home nations. The Accelerator will also enable us to also tackle societal challenges around responsible access and uptake of FS by underserved communities, individuals and companies. This capability will lead to the development of new bespoke products and services, which the Mid-Tier organisations and SMEs, that are our focus, could then exploit. This potential ‘market making opportunity' for new FS product and service innovation should have relevance in both UK and global markets that share similar inclusion challenges and market characteristics.