RMA's FinTech REGULATORY SANDBOX FRAMEWORK
Posted on: 2020-10-29 10:43:11
The emergence of disruptive technologies, such as Application Programming Interfaces, Artificial Intelligence, Big Data and Distributed Ledger, etc., are transforming the financial sector landscape and creating a new set of opportunities and values, enhancing financial inclusion and challenging the way regulators supervise and regulate. In order to respond to the dynamics of the rapidly emerging technologies, the introduction of Regulatory Sandbox (RS) Framework will provide the requisite regulatory guidance, to increase efficiency, manage risks and create new opportunities for consumers. Regulatory Sandbox will be useful for start-ups and established IT firms seeking for clarity around applicable rules and regulations related to a new digital solution that does not easily fit into the existing regulatory framework.
The Regulatory Sandbox will provide a structured avenue to engage with the firms and innovators to successfully test their solution, before a wider-scale launch, within a well-defined pace and duration, while carefully monitoring and containing
the risks.
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RMA's FinTech REGULATORY SANDBOX FRAMEWORK
