Regulatory sandbox

What is a regulatory sandbox?

The regulatory sandbox is a controlled environment where supervised entities and FinTech operators will be able to test, for a limited period of time, technologically innovative products and services in the banking, financial and insurance sectors. The tests will take place in close liaison with the supervisory authorities and can eventually benefit from a simplified transitional regime.

In Italy, Decree 100/2021 issued by the Ministry of Economy and Finance, implementing the delegated act envisaged under Decree Law 34/2019 ('Growth Decree'), sets out the 'FinTech Committee rules and experimentation', i.e. the regulatory sandbox of FinTech activities at the supervisory authorities.

Objectives

Through the sandbox, the supervisory authorities aim to support the growth and development of the Italian FinTech market, thanks to the introduction of innovative models in the banking, financial and insurance sectors, while guaranteeing adequate levels of consumer protection and competition, and safeguarding financial stability.

At the same time, the supervisory authorities can observe the latest technological developments and identify the most appropriate and effective regulatory interventions to facilitate the development of FinTech, thereby limiting the spread of potential new risks from the outset.

By participating in the sandbox, operators can test innovative products and services in constant dialogue with the supervisory authorities, also requesting that applicable regulations be waived for the purpose of the test.

Presentation of the projects - Cohort 2023

The application window for the second sandbox cohort was opened from 3 November to 5 December 2023.

There were no limits on the maximum number of applications or on the thematic areas of the proposed projects in this period.

For projects involving the financial or insurance sector, please check the websites of the competent authorities, i.e. Consob and Ivass.

For more information on how to participate to the regulatory sandbox, please see the dedicated page 'Admission to the test'.

Admitted projects

A list of the projects selected for testing is available in the 'Projects admitted to the Regulatory Sandbox' section.

Press releases

• Si apre la seconda finestra temporale per la presentazione dei progetti legati alla sandbox regolamentare (only in Italian) - 27 luglio 2023
• Si apre la finestra temporale per la presentazione dei progetti legati alla sandbox regolamentare (only in italian) - 30 settembre 2021
• Al via il Comitato FinTech e la sandbox regolamentare per la digitalizzazione dei servizi finanziari del Paese (only in italian) - 17 luglio 2021