FinTech and Regulatory Sandbox – new challenges for the financial market. The case of the Slovak Republic

Abstract

The article deals with the issue of emerging regulatory sandboxes and FinTech in the financial markets. The choice of topic is given by i) the topicality of the selected issues and dynamic changes in the financial markets, ii) the fact that there is no flat-rate framework for operating the regulatory sandbox and innovation hub and the EU's efforts to establish a framework for the operation of the innovation hub and the regulatory sandbox build on a comparative analysis of the steps already taken in Member States' legislation. Based on the analysis of previous scientific studies focused on the issue of regulatory sandboxes, the article identifies summarizing criteria on the basis of which it approaches the analysis of the operating of the regulatory sandbox in the conditions of the Slovak Republic. The article thus reflects on the need for analysis of national approaches to the establishment of the regulatory sandbox and complements the range of scientific studies with the lack of analysis of the regulatory sandbox in the conditions of the Slovak Republic. With this approach, the article supports the possibility of using the method of horizontal comparison of national regulations of individual states in setting a transnational approach to FinTech regulations, as well as contributes to further scientific research at the international level.