ob体育

Innovation Hub

Established in 2015, ob体育's Innovation Hub helps innovative fintech and regtech businesses navigate the Australian regulatory framework and provides a platform for domestic and international engagement on financial innovation-related developments.

This includes providing informal assistance to innovative businesses on their potential regulatory obligations, Australia鈥檚 overarching regulatory framework; and, as appropriate, options relating to relief powers such as the Commonwealth Government鈥檚 Enhanced regulatory sandbox.

ob体育鈥檚 approach to innovation

ob体育 recognises the potential of innovative products and services in improving consumer choice and outcomes. Our role is to balance responsible innovation and, at the same time, monitor, and uphold market integrity and protect consumers.

ob体育 supports the goal of responsible innovation by:

1. engaging and meeting with innovative businesses to provide informal assistance on their potential regulatory obligations and the licensing process
2. administering the Enhanced Regulatory Sandbox (where the legislation provides a limited licensing exemption for eligible fintechs to test innovative business models)
3. driving information sharing and cooperation on innovative developments and matters through our external Digital Finance Advisory Panel (DFAP), Regtech Liaison Forums, Regulator Meet-ups and our regular engagement with peer regulators, domestically and internationally.

ob体育 continues to respond where there may be potential harm to consumers or market integrity from an innovative business. Our aim is to prevent and deter actual and future misconduct, improve standards and behaviours within our regulated population, and reduce the risk of harm to Australian consumers and investors.

ob体育鈥檚 approach to regulatory technology (regtech)

We recognise the enormous potential of regtech to help firms build cultures of compliance, identifying learning opportunities, and creating efficiencies around regulatory matters. ob体育 encourages firms to explore, test and implement compliance-by-design solutions to improve business procedures and consumer outcomes.

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