Finance 2017

FinTech Regulatory Sandbox - Singapore

Singapore

Stakeholders

Monetary Authority of Singapore

Technology

Financial technology

The Monetary Authority of Singapore (MAS) encourage companies to test innovative financial products with the appropriate safeguards to contain the consequences of failure.

What was tested

Financial products and systems

Testbed purpose

In circumstances where it is less clear whether a new financial product or service complies with legal and regulatory requirements, some financial institutions or start-ups may err on the side of caution and choose not to implement it. This outcome is undesirable as promising innovations may be stifled and this may result in missed opportunities.

Context

The financial system is the test environment, but with regulatory support from MAS and the opportunity to suspend regulation.

Use cases

  • Testing innovation for verification and proof-of-concept
  • Address market failures or grand challenges
  • Create an appropriate regulatory environment

Bank of examples of real-world innovation testbeds

This is a database of real-world innovation testbeds collected through desk-based research and network interviews. It contains global examples from a range of sectors sorted into typologies, country, purpose, sectoral composition, year of establishment and main facilitators.

We're collecting more examples as we find them. If you'd like to add your testbed to this map, please suggest a testbed.

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