What is FIRSA?
The growth and spread of financial technologies (FinTech) has created complex challenges that have placed a significant burden on current regulatory frameworks. In response to the need to balance the promotion of innovation with the maintenance of financial stability and the protection of consumers, one institutional innovation the FinTech regulatory sandbox (FRSB) has gained traction to meet these challenges. However, the trajectories of adoption and the level of development of FRSBs vary significantly among EU countries in ways that remain underexplored.
The FIRSA project aims to fill this gap by offering a multidimensional measurement framework of FRSBs in the EU to develop a greater understanding of their differences, relative strengths and weaknesses, and the mechanisms that lead to their implementation. Whereas existing comparative studies on FRSBs have focused on their de jure characteristics (e.g. legal frameworks), this project includes de facto measures as well (e.g. number of staff).
All project results are disseminated through this website such as a Dashboard on FinTech in the EU, academic publications, tutorials, webinars and policy briefs.
Disclaimer
This project has received funding from the European Union Marie Skłodowska-Curie Postdoctoral Fellowships / ERA Fellowships action under grant agreement No. 101180601 under the title: Understanding FinTech Regulatory Sandbox Development in Europe (FIRSA).