This week the spotlight is on Abu Dhabi’s Global Market Financial Services Regulatory Authority who has announced its launch of a FinTech digital sandbox to allow financial institutions and FinTech innovators to work together to experiment on products and solutions in a digital platform environment.

The digital sandbox will provide a marketplace for open collaboration between financial institutions, FinTech firms and regulators to facilitate the testing and adoption of innovative digital financial products and services which can benefit the industry regionally.

It will allow financial institutions to source and procure FinTech solutions locally and globally, run digital tests on the platform and adopt and orchestrate the best ones which meet their business needs. It will also enable FinTech firms to offer their innovative solutions to international market players and tap cross-border market access and opportunities to grow and scale their business and participants in the UAE and regional markets to connect with other international markets and vice versa.