Fintech Supervisory Sandbox (FSS): Pilot Conditions for Banks and Tech Firms
HKMA's FSS lets banks and tech firms pilot fintech with limited customers, with a special FSS 3.1 Pilot track.
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 (tech firms) to conduct pilot trials of their fintech initiatives. These trials involve a limited number of participating customers and do not require 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 (Cyberport) to pilot FSS 3.1 (FSS 3.1 Pilot) in October 2022. This is another track of funding scheme.
Conditions for FSS 3.1 Pilot Projects
Qualifying FSS 3.1 Pilot projects must have a bank in Hong Kong as a project sponsor.