​​​​​Overview

It is a project developed internally by SAMA to streamline and optimize the processing of FinTech companies' applications to join the Regulatory Sandbox. The tool aims to reduce assessment turnaround time while maintaining the same rigid standards of quality, accuracy, and confidentiality. It evaluates each application's regulatory perimeter, identifies the applicable laws and regulations, produces a structured summary of the submitted business model, and benchmarks it against comparable models locally, regionally, and globally. The tool also supports the application assessment process based on the approved assessment criteria, generating a percentage score reflecting the application's alignment with each defined criterion, along with detailed justifications behind each score. The tool's outputs are designed to support and inform decision-making rather than replace human judgment. All findings, insights, and recommendations generated by the tool are subject to thorough review, validation, and approval by qualified subject matter experts at SAMA prior to adoption. This governance approach ensures that human oversight remains an integral part of the evaluation process, reinforcing the accuracy, reliability, transparency, and fairness of decisions while maintaining accountability and regulatory compliance.

​​​​​​​​Scope

Streamlining and optimizing the processing of FinTech companies' applications to join the Regulatory Sandbox, reducing assessment turnaround time.