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.


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

The application window for the first cohort of the sandbox will be open from 15 November 2021 to 15 January 2022.

During this time, no limits have been set on the maximum number of applications or on the thematic areas of the proposed projects.

The application forms and criteria for admission will be published in advance of the starting date of the application window.

Interested parties will be able to immediately start informal talks with the Bank of Italy by filling in and submitting the form to the dedicated mailbox info.sandbox@bancaditalia.it.

For projects involving the financial or insurance sector, prospective participants are invited to consult the websites of the competent authorities, Consob and Ivass.

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

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