FINTECH / REGTECH

AML / KYC

HKMA Seeking to Identify Next Areas of Focus in AML Regtech

By Manesh Samtani | 29/04/2024

HKMA is inviting professional firms to recommend AML Regtech use cases where adoption rates can be targeted for increase over the next two years.

Fintech / Regtech

Hong Kong Launches Cross-Industry Platform to Boost Fintech Adoption

By Sanday Chongo Kabange | 29/04/2024

‘FiNETech’ will enable financial institutions and tech firms to explore collaboration in the areas of wealthtech, insurtech, greentech, AI and DLT.

Crypto / Digital Assets

BOJ Publishes Progress Report on CBDC Pilot Experiment

By Editors | 29/04/2024

The experimental CBDC system will preserve user privacy by requiring intermediaries to separate customer data management from payment functions.

Fintech / Regtech

Korea Reveals Details on Naked Short Selling Detection System

By Manesh Samtani | 27/04/2024

Korea’s short-selling ban is unlikely to be lifted until after the new system is established, which is expected to take at least a year.

Capital / Liquidity

Revised BCBS Standards on Banking Supervision Take Effect

By Manesh Samtani | 27/04/2024

BCBS will also publish new proposed guidelines for banks in the coming week on counterparty credit risk management.

Big Picture

RBNZ Issues Response to Banking Competition Study

By Mark Johnston | 25/04/2024

The RBNZ disagrees with a Commerce Commission recommendation that the prudential capital settings for banks should be reviewed.

Fintech / Regtech

CFTC AI Rules Should Focus on Use Cases, Not Technology: FIA

By Manesh Samtani | 25/04/2024

FIA and other industry bodies say the focus should be on “the application of the technology within the context of a particular use case, not the technology as a whole”.

Enforcement

RBI Imposes Business Restrictions on Kotak Mahindra Bank

By Ajoy K Das | 25/04/2024

The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.

Market Infrastructure

GIFT City IBUs Directed to Offer Internet Banking Within Six Months

By Ajoy K Das | 25/04/2024

IFSC Banking Units in GIFT City are asked to benchmark their internet banking services against top global banks in Singapore and Hong Kong.