Technology and sandbox development innovation in a transitional market: A case study

Samira Kria Chaker

The combination and alignment of finance and technology (fintech) naturally finds its place in emerging markets, where the supply of traditional banking or insurance services is generally low. Almost two billion people around the world still do not have a bank account, most of them living in emerging countries (Yeung and Pángaro, 2020). The lack of financial market and related infrastructure and the rise of mobile phones are enabling these markets to turn to alternative financial solutions. Start-ups are using technology to rethink financial and banking services, expanding the range of products and services while making them more accessible and less expensive. Progress in information and communication technologies (ICTs) are helping to expand financial inclusion. The use of regulatory technology (regtech) is facilitating this trend and providing new tools for regulatory oversight to drive change.

In many countries, consumers have moved directly to online solutions without having access to traditional banking services. Financial inclusion has become even more important during the Coronavirus pandemic, which has demonstrated the paramount importance of digital transformation to