Asia's Fintech Evolution Accelerates for Data Functions

License requirements, risk data aggregation are among the tasks being addressed using the 'sandbox'

Soon Kit Tham, risk practice director, Asia-Pacific unit, Wolters Kluwer

Some regulators in Asia are taking an aggressive and proactive approach to fintech, with many industry participants labeling Singapore as the leader in the fintech arena. In particular, the sandbox approach to regulation of financial products is expected to change how financial data is used and exchanged, according to regulation and risk experts in the Asia-Pacific region.

The sandbox addresses financial services license requirements, shifting the regulatory focus away from data privacy and

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