In Malaysia, Bank Negara Malaysia introduced its regulatory sandbox in 2016. The framework provided a flexible regulatory environment that allowed fintech companies to experiment in a production environment. In Thailand, the Bank of Thailand, Securities and Exchange Commission, and Office of Insurance Commission each introduced its own regulatory sandbox.
As a result, e-KYC was launched; interest rate for digital savings was increased; and the volume and quality of digital lending were improved. In the Philippines, the significance of digital finance in achieving financial inclusion is highlighted in the recently launched National Strategy Financial Inclusion, or NSFI 2022–2028.