The Capital Market Authority (CMA) has admitted Quantum Investment Limited to the Fintech Regulatory Sandbox. This firm will test its Fintech innovation in a capital markets live environment in compliance with the CMA Fintech Regulatory Sandbox Guidelines.
Quantum Investment Limited will test its Pezzy Mobile Application, a Fintech innovation in the saving and investment space aiming at connecting retail investors to the Collective Investment Schemes (CIS). The innovation is intending to enhance the culture of saving and investment for retail investors by creating various strategies including “Save and Invest as You Spend”, “Automated Expense Tracking” enabling investors to become conscious of their spending habits and improve their attitudes towards saving and investment. Quantum Investment Limited will test its application into the CMA Fintech Regulatory Sandbox for the period of twelve (12) months.
The Capital Market Authority (CMA) has implemented the Fintech Regulatory Sandbox as a framework to encourage and support the promotion of a variety of Fintech innovations that have the potential to deepen and accelerate the capital market development in Rwanda. CMA continues to implement various initiatives in line with Rwanda’s commitment to become a Fintech hub and a proof of concept for Fintech by implementing the Capital Markets Fintech Regulatory Sandbox, which is an enabling regulatory environment where Fintech are able to test their innovative solutions in a live, small scale and controlled environment before deployment to the wider market.
The CEO of Capital Market Authority, Mr. Thapelo TSHEOLE noted: “The Authority is delighted to welcome this new innovation for testing into the Capital Market Fintech Regulatory Sandbox. If this innovation is successful, it will significantly reduce the barriers to entry into the capital markets for retail investors. The collective investment schemes will be accessible to retail investors in a more convenient manner and the culture of saving and investment will be enhanced by leveraging technology. We encourage fintech community with innovations that have the potential to solve genuine problems and deepening the capital markets in Rwanda; to apply and test their solutions into our fintech regulatory sandbox, applications are received on a rolling basis”.