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Monetary Authority of Singapore (MAS)

Mr. Roy Teo, Director and Head (Technology Innovation Lab) – Fintech and Innovation Group

The Monetary Authority of Singapore (MAS) was recognised for the launch of a regulatory sandbox for financial institutions and FinTech players to test their innovations. The sandbox enables experiments to happen in a quarantined environment, with minimal costs in the event of failure. At the inception of an idea or an innovation, it might be impossible to anticipate every risk.
The idea is that MAS and the applicant will jointly define the boundaries within which the experiment will take place.MAS will determine the legal and regulatory requirements which it is prepared to relax for the duration of the experiment within these boundaries.