This report, published jointly by CII and Deloitte talks about the concept of Regulatory Sandbox to achieve the twin objectives of nurturing financial innovation and safeguarding customer interests. Several regulators across the world have setup a regulatory sandbox – a test environment for Fintech firms with relaxed regulatory requirements to assess their business model and impact on end consumers. The global FinTech world is challenging the existing business paradigms and regulations with newer business models and rapid innovations. The ecosystem as well as guidelines for FinTech regulations are still evolving in most of the markets. In this report a framework for regulators is presented to identify sandbox candidates and execute the sandbox.
This report was released at the CII Fintech 2017 held on 28 July at New Delhi.