A regulatory approach that aims to create a safe space in which businesses can test innovative products, services, business models, and delivery mechanisms in a live environment without immediately incurring all the normal regulatory consequences of engaging in the activity in question.

Refers to the ability to read and navigate digital content autonomously, and the competence and knowledge required to access and use digital products and services, such as mobile phones, tablets, or the internet (FinEquity 2021).

Refers to extremely large and complex sets of structured, semi structured, and unstructured data that cannot be managed, processed, or analyzed easily using traditional data-processing techniques. It typically involves high volumes of data generated from various sources, such as social media, sensors, transaction records, and digital devices.