International Fintech activities

European Forum for Innovation Facilitators

The European Forum for Innovation Facilitators (EFIF) provides supervisory authorities with a platform for regular meetings to exchange experiences in working with firms through innovation facilitators (regulatory sandboxes and innovation hubs). It also aims to share technological and professional knowledge and develop common regulatory perspectives on innovative products, services, and business models, thereby enhancing overall coordination.

EFIF was established based on a 2019 joint report by the European Supervisory Authorities (ESAs) on regulatory sandboxes and innovation hubs, which identified the need for greater coordination and cooperation among innovation facilitators to support the expansion of FinTech within the EU single market.

European Blockchain Sandbox

The European Blockchain Regulatory Sandbox establishes a pan-European framework for regulatory dialogue aimed at increasing legal certainty for innovative blockchain solutions. Funded under the Digital Europe program and aligned with the EU’s strategy for small and medium-sized enterprises (SMEs), the sandbox operates from 2023 to 2026 and supports 20 projects annually, including public sector applications within the European Blockchain Services Infrastructure (EBSI). Projects are selected through calls for expressions of interest.

Global Financial Innovation Network

In January 2019, an international group of financial regulatory authorities and related organizations officially launched the Global Financial Innovation Network (GFIN).

GFIN is a network of over 70 organizations committed to supporting financial innovations in the interest of consumers. Its goal is to provide innovative firms with a more efficient way to interact with regulatory authorities and help them navigate regulatory environments across multiple jurisdictions as they seek to scale new ideas.

GFIN also offers firms the opportunity to participate in pilot projects, allowing them to test innovative products, services, or business models in multiple jurisdictions simultaneously.

Additionally, GFIN aims to establish a new framework for cooperation among financial services regulators on innovation-related topics and to facilitate the sharing of different experiences and regulatory approaches.

Documents from international standardization institutions

European Supervisory Authorities

Annual reports

Last updated on 19 Feb 2025