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Opinion: Decoding Sri Lanka's fintech regulatory sandbox – Lanka Business Online


By Imesha Dissanayake
The sandbox concept evolved from
the children’s learning game, vindicating the old “test and learn” approach to
foster innovation. According to the UK Financial Conduct Authority (FCA),
sandboxes are a safe space in which individuals can test innovative products,
services, business models, and delivery mechanisms in a controlled environment.
There are many types of sandboxes
available globally with one such type being the regulatory sandbox. A
regulatory sandbox apart from its functions as a sandbox, is also a mechanism
where the regulator is able to identify regulatory barriers that hinders
innovations.  UK FCA was the first to ....

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