The Financial Regulation Innovation Lab (FRIL) Responsible AI Innovation Call supports businesses developing technology solutions that promote the safe, transparent and responsible use of artificial intelligence in financial services.

Successful applicants will take part in an innovation challenge led by FinTech Scotland in partnership with the University of Strathclyde and funded by Scottish Enterprise. You will collaborate with major financial institutions and professional services organisations to explore real-world industry challenges, test their solutions and identify potential routes to market.

You will also have the opportunity to pitch for grant funding of up to £50,000 to further develop their solutions.

The Responsible AI challenge focuses on solutions that can help financial services organisations improve efficiency and decision-making while addressing issues such as fairness, governance, transparency, accountability and regulatory compliance.

Applications for the funding call close at 11:59pm on Friday 31 July 2026.

Yes, if you are:

• a UK registered company
• developing innovative responsible AI solutions to the financial services sector

You can’t apply for funding for any procurement, commercial, business development or supply chain activity with any Russian or Belarusian entity as lead or subcontractor. This includes any goods or services originating from a Russian or Belarusian source. 

It is free to apply. 

You can apply if you are:

• a fintech business
• a technology company developing AI solutions
• a start-up business
• a scale-up businesse
• an SME
• an innovation-led business working in financial services technology

Applications for the current innovation call close at 11:59pm on Friday 31 July 2026. 

Successful applicants will be notified by Wednesday 5 August 2026.

The programme is led by FinTech Scotland in partnership with the University of Strathclyde and funded by Scottish Enterprise.

A series of drop-in clinics are available to answer any questions you have about the application process. You can sign up to any of the sessions via the FinTech Scotland website. Clinics will be held online at:

• 3pm, Thursday 2 July 2026
• 1pm, Thursday 16 July 2026
• 2pm, Monday 27 July 2026

Visit the FinTech Scotland website for further information and to apply.