The Bunker, a data storage service provider, is launching its new Sandbox service for early-stage finch businesses that are developing apps for the regulated financial services market.
Sandbox will offer a “secure, flexible, online space” for entrepreneurs to develop and demonstrate products, and to prove their applications meet any relevant compliance and security regulations, according to The Bunker
The Bunker is also collaborating with Barclays Rise, a new platform supporting leading fintech companies, which will help identify early-stage businesses for the programme.
The Sandbox comes as a response to the fintech market’s “massive rate of innovation”, and is intended to help drive real productivity, Phil Bindley, managing director of The Bunker, said at the launch.
In addition to technology partnerships with Lenovo and Intel, The Bunker’s senior consultants will also be available to offer expertise across various fintech sectors.
Bindley said: “The strength of the UK financial services sector, combined with a mature base in technological inventiveness means that we are seeing major opportunities for growth.”
“The Sandbox is our way to connect with early-stage businesses who need the expertise that we can provide. Navigating the regulatory minefield of the financial sector is not easy, especially when you are at the early stages of development and your team is likely to be small and naturally focused on technical product development.”
He added: “We believe that by developing partnerships early, we can forge long-term relationships with customers and increase our presence in the market.”
The move follows Palatine Private Equity’s investment into The Bunker, secured in July.
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