Global Financial Innovation Network (GFIN)

GFIN was formally launched in January 2019 by an international group of financial regulators and related organisations, including MAS, to support financial innovation in the interest of consumers.

What It Is

GFIN seeks to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas. This includes a pilot for firms wishing to test innovative products, services or business models across more than one jurisdiction.

Members

For more info, refer to the full list of GFIN members here (270.9 KB).

Cross-border Testing

The GFIN is inviting applications from firms to test innovative financial products, services, business models or regulatory technology across more than one country or jurisdiction. Twenty-three regulators across five continents are participating in this initiative, which builds on lessons learned following the GFIN's 2019 cross-border testing pilot.

Cross-border testing 1.0
To facilitate the application process, the GFIN has developed several tools and solutions to improve the cross-border testing framework for a new cohort of firms, including:

- a single-entry application form for firms;

- a cross-border testing FAQs to help firms understand the process;

- an evolved 'Regulatory Compendium ' clarifying the remit and interests of participating regulators and the types of innovation services available; and

- an extension of the application window to 9 weeks to allow firms more time to consider and prepare their applications.

Firms interested in applying to take part in cross-border testing should review the list of participating regulators and their respective Regulatory Compendiums and submit an application via the GFIN website before the 31 December deadline.

For more info, please visit the GFIN website here .