Sir Mark Walport, who was inducted into the 11:FS Awards Hall of Fame, is a renowned figure in the fintech industry. He served as the Chief Scientific Adviser for the UK government from 2013 to 2017 and led a review of the government's science and innovation system in 2015. As part of this review, Sir Mark recommended the creation of a regulatory sandbox for fintech firms to test new products and services in a controlled environment, drawing on his expertise in medicine to assess how the sector could grow safely.
The UK's financial regulator, the Financial Conduct Authority (FCA), adopted Sir Mark's recommendation and launched a regulatory sandbox in 2016, which has since helped to foster innovation and growth in the UK fintech scene.
In this episode of Spotlight, 11:FS CEO David M. Brear speaks with Sir Mark about his career, the impact of his recommendations on financial services, and how emerging technology industries can draw inspiration from other sectors like medicine and science.