AFSA FinTech Lab
FinTech Lab is a tailored live environment, where firms can offer innovative financial and RegTech services without being immediately subject to the full set of regulatory requirements.
FinTech Lab allows:
- Firms licenced in foreign jurisdictions to test the regional markets with minimum resources and presence in AIFC.
- Start-up firms to provide activities regulated in the AIFC by gradually complying with regulatory requirements.
- Both incumbent and start-up firms to test new products and technologies in live environment with real clients.
AFSA FinTech Lab announced that the pre-application form changes within the SSP Portal that are designed to streamline and enhance the authorisation processes.
Here’s what you can expect from the improved pre-application form:
- “One-window” approach: the new form allows you to submit all required documents, such as business plan, financial projections, business process flow charts etc., directly within the pre-application form.
- All necessary disclosures and questionnaires will be conducted within pre-application form, simplifying the information gathering process.
- AFSA FinTech Lab has introduced new features that allow you to provide an overview of the innovation and technology of your proposed fintech activity.
- Unnecessary and outdated questions that are no longer relevant to the authorisation process have been removed.
AFSA FinTech Lab believes that these updates will enhance your interaction with the regulator and contribute to a smoother authorisation process.
