November 13, 2018 / 6:00 AM / 8 months ago

Norway to launch fintech 'sandbox' in 2019

OSLO, Nov 13 (Reuters) - Norway will launch a regulatory “sandbox” by the end of 2019 in a bid to boost innovation by fintech companies, the Finance Ministry said in a statement late Monday.

A sandbox, or controlled environment for testing new products, technologies and services on a limited number of customers, was first launched by Britain and has since also been established in Denmark and the Netherlands.

Innovation hubs provide a forum for regulators and fintech firms to discuss ideas, while sandboxes allow them to test new products, such as making payments using a smartphone, on real customers - all without having to go through a costly and lengthy full authorisation process first. (Reporting by Terje Solsvik, Editing by Sherry Jacob-Phillips)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below