SBP concludes first Regulatory Sandbox cohort, four fintechs clear testing

Business Recorder reported that the State Bank of Pakistan has wrapped up the first group of participants in its Regulatory Sandbox, which opened in August 2025 as part of SBP Vision 2028. The central bank's statement, issued on Tuesday, said the group concentrated on remittance technology, open banking and remote merchant onboarding. Six participants were selected to run their solutions in the sandbox between January and June 2026, with SBP staff offering support and regulatory guidance throughout.

Four of the six participants were judged to have successfully demonstrated their solutions. Taptap Send UK Limited and United Bank Limited (UBL) were recognised for remittance solutions, while Digi Khata, Swich Retail and Neem Exponential Financial Services were recognised for open banking.

The SBP stressed that completing sandbox testing does not amount to regulatory approval, and successful participants must secure authorisation before commercially launching the tested products. The regulator expects the sandbox to keep supporting banks and fintechs in developing practical, user-centric solutions that widen financial services reach and improve efficiency.