FINTECH / REGTECH

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    Fintech / Regtech

    BSP Studying Impact of Generative AI on Banking Industry

    By Sanday Chongo Kabange | 12/03/2024

    The BSP is seeking to introduce  ‘guardrails’ to mitigate potential risks associated with the use of Gen AI in the banking industry.

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    AML / KYC

    Singapore’s COSMIC Initiative Will Prioritise Consumer Safeguards

    By Nithya Subramanian | 12/03/2024

    COSMIC, launching in May, requires banks to implement a number of safeguards to protect legitimate customers from having their information shared.

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    Fintech / Regtech

    BOE to Move Data & Analytics Platform to the Cloud

    By Editors | 11/03/2024

    The move is part of a modernisation programme that will also involve a “controlled set of pilots” of AI tools across the BOE.

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    Fintech / Regtech

    RBI Tightens Rules for Debit and Credit Card Issuers

    By Ajoy K Das | 11/03/2024

    Card issuers are now required to put in place mechanisms to monitor the end use of funds for credit cards linked to business accounts.

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    Market Infrastructure

    China Makes More Improvements to Payments Services for Foreigners

    By Editors | 11/03/2024

    The State Council released new guidelines. Alipay and WeChat Pay teamed up with NetsUnion Clearing Corp to optimise the use of foreign bank cards in China.

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    Crypto / Digital Assets

    Indonesia OJK to Provide Boost to Financial Sector Innovation

    By Editors | 11/03/2024

    The new regulation refines the regulatory sandbox mechanism to add eligibility criteria and to allow testing in crypto asset products.

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    AML / KYC

    INTERPOL Updates Guidance on AI Innovation in Law Enforcement

    By Editors | 10/03/2024

    The updated toolkit provides additional guidance for law enforcement agencies on AI governance, ethics and strategy development.

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    Securities / Derivatives

    Vietnam: HoSE Commences Trial Run of New Trading System

    By Editors | 10/03/2024

    Deployment was initially planned for 2015, but the project has faced delays and setbacks, including the pandemic, extending the rollout to nearly ten years.

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    Fintech / Regtech

    RBI to Require Card Issuers to Allow Customers to Choose Network

    By Ajoy K Das | 08/03/2024

    The RBI found from a review that some arrangements between card networks and card issuers are “not conducive to the availability of choice for customers”.

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    Crypto / Digital Assets

    HKMA Commences wCBDC Project to Drive Tokenisation

    By Editors | 07/03/2024

    Project Ensemble could help to forge new financial market infrastructure that can bridge tokenised assets and money in transactions, the HKMA said.

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