Innovation facilitators, such as innovation hubs and regulatory sandboxes, help towards building the relevant capacity. It is important to promote collaboration among those facilitators in order to reap greater benefits.
Two great examples in this area are the European Forum for Innovation Facilitators and the Global Financial Innovation Network, which have contributed to information sharing on the regulatory treatment of digital finance innovations and set up frameworks for the crossborder testing of such services. Second, we need to address regulatory gaps.