Fintech Supervisory Sandbox Pilot Conditions for Banks and Tech Firms
The HKMA's Fintech Supervisory Sandbox allows banks and tech firms to conduct limited pilot trials without full compliance with supervisory requirements.
Overview
The Hong Kong Monetary Authority launched the Fintech Supervisory Sandbox in September 2016. It allows banks and their partnering technology firms to conduct pilot trials of fintech initiatives involving a limited number of participating customers without the need to achieve full compliance with the HKMA’s supervisory requirements.
FSS 3.1 Pilot
To enhance FSS 3.0, the HKMA collaborated with Hong Kong Cyberport Management Company Limited to pilot FSS 3.1, another track of funding scheme, in October 2022. Qualifying FSS 3.1 Pilot projects must have a bank in Hong Kong as a project sponsor.
Related reading
FAQ
Q1: Who can conduct pilot trials through the Fintech Supervisory Sandbox?
Banks and their partnering technology firms can conduct pilot trials through the FSS.
Q2: What is a requirement for FSS 3.1 Pilot projects?
Qualifying FSS 3.1 Pilot projects must have a bank in Hong Kong as a project sponsor.