Unlock innovation and drive policy development
In an ever-changing landscape, regulators struggle to balance innovation with consumer protection. NayaOne’s digital sandbox and innovation hub bring together fintech firms, banks, and regulators to collaborate in an open, secure environment.
The problem
As a regulator, it’s challenging to promote innovation in the financial services sector while ensuring consumer protection. Traditional regulatory processes can be slow and complicated, delaying the launch of new technologies. Without a collaborative space to engage with fintech innovators and banks, it becomes difficult to align goals and address regulatory challenges effectively.
The solution
NayaOne’s Digital Regulatory Sandbox offers a streamlined solution for regulators to encourage innovation while maintaining oversight. The "Innovation Front Door" simplifies the application process for fintech firms, making it easier for them to access guidance and support. This digital sandbox provides a safe environment for innovators to develop and test their solutions with the necessary data and resources.
Additionally, NayaOne features Collaboration Zones where regulators can work directly with stakeholders through rapid Policy and Tech Sprints. This allows for quick problem-solving and helps shape effective regulations in real-time. By fostering collaboration, NayaOne supports innovation while enhancing consumer protection in the financial services industry.
Benefits of using NayaOne
01
Digital Regulatory Sandbox
Your Innovation Front Door matters. A digital sandbox makes it easier for innovators to apply, access your content and guidance and easier for your teams to manage the Sandbox workflow.
02
Data Hub & Tech Resources
Innovators need resources to grow and develop their ideas. A Digital Sandbox gives you the place to do that in a controlled and safe way. Provide data resources and technical environments to support innovation.
03
Collaboration Zones
Innovation doesn’t just happen in a vacuum. Bring stakeholders together by collaborating on engagement challenges, rapid Policy Sprints, Tech Sprints and Challenges to solve objectives in as little as 4 weeks.
FAQs
The Digital Regulatory Sandbox is a controlled environment that allows fintech innovators to develop, test, and refine their solutions while ensuring compliance with regulatory standards. It provides regulators with visibility into the innovation process and enables a collaborative approach to policy development.
The “Innovation Front Door” simplifies the application process for fintech firms. It allows innovators to easily apply for access to the sandbox, where they can access regulatory guidance, data resources, and technical support to accelerate their development efforts.
The sandbox accommodates a wide range of innovations, including new fintech solutions related to digital banking, payments, compliance tools, and emerging technologies like blockchain and AI. Each project will be assessed to ensure it meets the sandbox’s safety and regulatory criteria.
The sandbox operates under strict guidelines to ensure consumer protection. All innovations are evaluated for compliance with existing regulations, and regular oversight by regulators helps identify and mitigate potential risks before solutions are launched in the market.
Engage the industry to crowdsource feedback, product ideas, and innovative solutions
01
Launch
- Host events to foster collaboration
- Form teams to work on projects
- Leverage and engage industry expertise
- Participate in hackathons for fresh ideas
02
Build
- Open API marketplace
- Data Supermarket
- Data Sandbox
- App dev Sandbox
- Open API testing
- Cloud Sandbox management
03
Evaluate
- Demonstrate solutions to stakeholders
- Gather and assess feedback
- Track key metrics with a KPIs dashboard
Achievements
Best Innovation Platform
Fintech of the Future
Graduate. Accenture Fintech Lab
FCA TechSprint Winner
