The Autorité des marchés financiers (AMF) on Thursday announced the launch of a fintech lab to help deepen its understanding of technology and its potential in the financial industry.
The lab will serve as a tech-focused think tank to help bolster the regulator’s knowledge of technology, its possible application in the industry, and uses for regulators
The new lab will also provide insight into the regulatory framework, and the regulatory sandbox initiative adopted by the Canadian Securities Administrators (CSA) to facilitate fintech experimentation.
The AMF also expects the lab to serve as a talent incubator by bringing in engineering students to work as interns on certain projects. The first two interns will begin work in May, the AMF says.
The regulator also announced that it is joining R3, the global industry consortium which is currently examining the prospects for blockchain technology in the financial services sector.
“By joining the consortium, the AMF will be able to gain access to relevant information about projects undertaken by other regulators, enter into project partnerships and develop its own initiatives in a more timely manner,” the regulator say in a statement.
The regulator says it is also looking to form other partnerships that will allow it to more closely monitor the development of new technologies in the financial sector.