To qualify for authorisation under the RegLab framework, the applicant must demonstrate how it satisfies the following evaluation criteria:
(a) the FinTech Proposal promotes FinTech innovation, in terms of the business application and deployment model of the technology.
(b) the FinTech Proposal has the potential to:
i. promote significant growth, efficiency or competition in the financial sector;
ii. promote better risk management solutions and regulatory outcomes for the financial industry; or
iii. improve the choices and welfare of clients.
(c) the FinTech Proposal is at a sufficiently advanced stage of development to mount a live test.
(d) the FinTech Proposal can be deployed in the ADGM and the UAE on a broader scale or contribute to the development of ADGM as a financial centre, and, if so, how the applicant intends to do so on completion of the validity period.