Fintech Supervisory Sandbox (FSS) Pilot Conditions for Banks and Tech Firms
HKMA's Fintech Supervisory Sandbox lets banks and tech firms pilot fintech with limited customers. FSS 3.1 adds Cyberport funding.
What is the Fintech Supervisory Sandbox?
The Fintech Supervisory Sandbox (FSS) was launched by the Hong Kong Monetary Authority (HKMA) in September 2016. It allows banks and their partnering technology firms to conduct pilot trials of fintech initiatives with a limited number of participating customers. This piloting is possible without the need to achieve full compliance with the HKMA’s supervisory requirements.
The FSS 3.1 Pilot Track
In October 2022, the HKMA collaborated with Hong Kong Cyberport Management Company Limited (Cyberport) to launch a new track under the FSS called FSS 3.1 Pilot. This is another funding scheme, and its purpose is to enhance FSS 3.0.
Qualifying Conditions：Sponsor Requirement
To be eligible for the FSS 3.1 Pilot, a project must have a bank in Hong Kong acting as its project sponsor.