For more complex business models where customisation is required to balance the risks and benefits of the experiment.
The FinTech Regulatory Sandbox framework enables financial institutions and FinTech players to experiment with innovative financial products or services in a live environment but within a well-defined space and duration.
Depending on the experiment, MAS will provide appropriate regulatory support by relaxing specific legal and regulatory requirements prescribed by MAS, which the sandbox entity will otherwise be subject to, for the duration of the sandbox.
The sandbox will include appropriate safeguards to contain the consequences of failure and maintain the overall safety and soundness of the financial system.
Upon successful experimentation and on exiting the sandbox, the sandbox entity must fully comply with the relevant legal and regulatory requirements.
From time to time, MAS receives information on companies that have claimed to be approved by MAS to experiment in the sandbox. Consumers should exercise care when dealing with these companies or with other persons acting on their behalf. Find out who fall under the alert list .