FMA to oversee ‘regulatory sandbox’ for fintechs

Financial technology companies will have a proving ground for their products' compliance before release. (Image: Getty)

Thu, 12 Dec 2024

A new regulatory sandbox is expected to accelerate the time to market for new products and services from financial technology companies.The initiative is a partnership between industry body Fintech NZ and the Financial Markets Authority (FMA).It aims to accelerate the progress of the financial technology industry by allowing fintechs to get their products to market more quickly, and allow for regulators to be more proactive in setting standards.It will begin with a small group of five fintechs over six months and scale up in the following month...

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