Mobile phone being used for payment at a tap and go machine

Why Australia needs a better model for its Enhanced Fintech Sandbox

In Dr Didenko's submission to the Select Committee on Australia as a Technology and Financial Centre and a corresponding blog post he argues that the newly introduced ‘enhanced regulatory sandbox’, which became operational in September 2020, only scrapes the surface of the many challenges underlying Australia’s FinTech sandbox.

He suggests that these challenges can only be adequately resolved by revising the underlying sandbox model and switching to an authorisation-based sandbox design (which is widely used globally and is more easily understood by FinTech firms).

A comprehensive analysis of this matter is available in Anton’s forthcoming publication in the University of New South Wales Law Journal, which can be downloaded here.