Nigeria FinTech Landscape - Impact Assessment
Global FinTech Enablers - MAS Singapore
Singapore MAS has recently launched their version of a regulatory sandbox in
mid-2019
The MAS regulatory sandbox
The MAS regulatory sandbox provides a conducive environment for the
experimentation of innovative technology where the consequences of a failure
can be contained and the overall safety and soundness of the financial system
maintained
Proposed sandbox criteria
TT
The solution is
technologically
innovative
*
The solution addresses a
problem, or brings benefits to
consumers and/or industry
נדווי
The boundary
conditions have been
clearly defined
The sandbox test scenarios
and outcomes have been
clearly defined
The applicant wants to deploy
the solution in Singapore on a
broader scale
+
Major foreseeable risks arising
from the solution have been
assessed and mitigated
The exit strategy has been
defined in event of solution
discontinuation
SOURCE: MAS, press search
Financial industry
sandbox
Objective
How it works?
Criteria
*
Encourage FinTech experimentation such
that innovations can be tested in the market
and have a wider chance for adoption
Enable FinTech innovation/experimentation
in production environment under specific
conditions and duration
Relax specific legal and regulatory
requirements by MAS for the duration of
the sandbox
Proposed financial service includes new or
emerging technology or uses existing
technology in an innovative way
Proposed financial service addresses a
problem or bring benefits to consumers or
the industry
EFINA
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