But fintechs should still participate to benefit from the Financial Conduct Authority's regulatory support.
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Twenty-two percent of fintechs that participated in the Financial Conduct Authority's (FCA) regulatory
sandbox have since gone out of business,
per research from AltFi.
More than one-fifth of fintechs in the UK regulator's sandbox have collapsed.
Insider Intelligence
The UK sandbox, which was the world's first and launched in 2015, allows select fintechs to test their services on a small group of consumers and get support from the FCA in identifying appropriate consumer protection safeguards.