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In this episode of our series on financial technology, we sat down with Kate Lauer, a senior policy advisor at CGAP. Kate is an expert in microfinance, financial inclusion and global financial regulation. She is currently researching the impact of regulatory sandboxes on fintech and financial inclusion.

Some of the key takeaways from our conversation with Kate include:

• Regulatory sandboxes are a two-way street, allowing fintech companies to learn about regulation, but also allowing regulators to learn about fintech.
• Creating a level platform for fintech companies to compete, while also mitigating risks, is one of the primary challenges facing regulators.
• There are very large differences in the structure of Asian regulatory sandboxes.
• Asia faces an immense financial inclusion problem, but some of the most interesting financial inclusion efforts are taking place in the region.
• Bringing people into the formal financial system touches upon complicated issues of taxation and privacy.

The views expressed are not necessarily those of the Federal Reserve Bank of San Francisco or of the Federal Reserve System.