Fintech’s Financial Products and Regulatory Sandbox
Prof. Dr. Haïssam Fadlallah
Professor of Private Law
Faculty of law, Filière Francophone de Droit
Lebanese University
Abstract:
The term FinTech refers to how technology (Tech) has influenced financial services (Fin). FinTech is a new type of firm that mainly provides financial services via technologically advanced mobile and internet platforms. Fintech firms are currently reshaping the financial sector.
This raises the question of how FinTech firms’ financial products operate and how these firms are regulated. Descriptive and analytical research will be conducted to answer this question. FinTech provides a variety of alternative financial products on a financial level. Crowdfunding and robo-advisory are two of these products that may aid in the promotion of new businesses. Sandboxes offer a safe environment with regulatory reliefs for testing FinTechs at the regulatory level.
If Kuwaiti legislators provide, on the one hand, regulations governing crowdfunding and robo-advisory, and, on the other, a few amendments to the sandbox, the desired goal of promoting FinTech companies will be met.
Keywords: central bank of Kuwait, crowdfunding, regulatory sandbox, robo-advisory, and small business.