The applicant must demonstrate fulfilment of all the criteria listed below:
Criteria for admission
The activity is significantly innovative.
- The product, service or process leverages innovative technologies.
- There are no similar products, services or processes on the domestic market or, in any case, the proposed solution differs objectively from what is currently on the market.
- Even if the project builds on technologies already in use, the business model is significantly innovative.
Need for testing
The activity requires derogation from one or more supervisory guidelines or acts of a general nature adopted by the supervisory authorities or testing and joint examination with one or more supervisory authorities.
- The request for a derogation relates to acts of a general nature, or to rules and regulations adopted by the supervisory authorities, the references of which are clearly indicated. The abovementioned derogations are not admissible for primary legislation and mandatory rules of the European Union. The reasons why such derogations would be necessary for the conduct of the trial shall be adequately justified.
- The activity needs joint testing/examination because it requires monitoring and evaluation with the supervisory authorities in a controlled environment prior to free supply on the market.
For example, it could be necessary to run a test to rule out any potential risks or problems for the system and to evaluate any possible technical risks that could lead to legal compliance difficulties.
The activity adds value in terms of at least one of the following aspects, without significant prejudice to any of the others:
- Benefits for end-users, e.g. improved customer experience, greater inclusion, improved transparency, enhanced security safeguards, lower costs for end users.
- Efficiency of the system, e.g. execution times of minor operations, better usability and use of information.
- Effectiveness in applying the regulations, in terms of: streamlining the internal processes designed to meet the regulatory obligations, better data management for compliance and reporting purposes.
- Improvement of the risk management systems, procedures and processes for banking, financial or insurance operators: optimization in terms of cost and/or internal resources, increased effectiveness in identifying and/or measuring and managing risks.
The activity is at a sufficiently advanced stage for the test to be done.
- The feasibility study and the Gantt chart have been prepared.
- There are sufficient technological, human and logistical resources for the test.
- The potential risks of the activity (including ICT, cybersecurity and data protection risks) have been identified and specific safeguards are ready to protect users.
- There are adequate proposals for metrics to monitor the test.
The activity is sustainable from an economic and financial standpoint or in any event has an adequate degree of financial coverage.
- The feasibility study includes a forward-looking assessment of financial sustainability, based on a solid and realistic rationale.
- There is sufficient financial coverage for the size and scope of the project.