Regulatory Sandboxes in Latin America and the Caribbean for the FinTech Ecosystem and the Financial System
Date
Mar 2018
English
(8081 downloads)
Spanish
(10760 downloads)
Portuguese
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The FinTech industry has grown significantly in Latin America and the Caribbean and has become an alternative for improving regional financial inclusion levels. However, the innovations brought about by this growth pose a series of challenges for regulators and financial supervisors, who are tasked with reducing uncertainty associated with the phenomenon. Regulatory sandboxes are tools to mitigate uncertainty in a controlled environment in which companies can test their services under the financial regulator’s oversight. There is a possibility that the region can advance toward common principles to allow ecosystem development and regulatory convergence among the different countries.