The ongoing global collaboration is vital in order to keep pace with these developments. The SARB is committed to staying abreast of and contributing to global thought leadership on FinTech. Deciding on the appropriateness of structures, such as innovation hubs and sandboxes to keep abreast of FinTech developments  Lastly, I would like to turn to innovation hubs and sandboxes.
The SARB has been following the approaches, adopted by other jurisdictions, to assist policymakers and regulators in staying abreast of FinTech developments given how some lending and payment platforms have grown to become systemically important systems within a short space of time. For this reason, jurisdictions such as Australia, Hong Kong, Singapore and the United Kingdom have implemented innovation hubs and regulatory sandboxes.