Long term, it pays to be a visionary, and in today’s hyper-competitive financial services industry, practical forward-thinking is a sign of real progress. Data-driven regulation and compliance is the key to a successful future financial services industry, and in this regard, the British Virgin Islands (BVI) continues to punch above its weight with its capability in fast-paced, innovative and cost-effective products and a welcoming Sandbox regime.
The Sandbox is where FinTech innovation meets RegTech practicality. The Sandbox aims to promote more effective competition in the interests of consumers by allowing both existing and prospective licensees to test innovative products, services, and business models in a live market environment, while ensuring that appropriate safeguards are in place.