Fintech / Regtech

Fintech / Regtech

Large Language Models Can’t Yet be Used for ‘Highstakes’ Analysis: BIS

By Manesh Samtani | 06/01/2024

Current large language models like GPT-4 do not yet have the “rigorous reasoning abilities necessary for some core analytical activities”.

Fintech / Regtech

Korea to Launch AI-based Advertising Surveillance System

By Manesh Samtani | 05/01/2024

The new system will use an AI to automatically identify illegal financial advertisements and automate requests to block them.

Fintech / Regtech

RBI Offers 10-Point Checklist for AI Deployment in Banking

By Ajoy K Das | 04/01/2024

M Rajeshwar Rao said the banking sector needs to address concerns over the fairness, transparency and governance or AI models.

Fintech / Regtech

Taiwan: FSC Drafts Guidelines for FIs on the Use of AI

By Editors | 01/01/2024

The guidelines are based on the six core principles released in October to promote responsible AI innovation in the financial industry.

Fintech / Regtech

Indonesia OJK Issues New Rules to Support Banking Digitalisation

By Mark Johnston | 30/12/2023

The new regulations aim to provide a level playing field and guidance for banks in developing digital services and assessing digital maturity.

AML / KYC

Korean Banks Set to Start Compensating Customers for Fraud Losses

By Manesh Samtani | 28/12/2023

From 1 January 2024, customers who suffer losses from unauthorised electronic financial transactions will be able to seek compensation from banks.

Fintech / Regtech

HKMA Issues Guidance on Managing Cyber Risk of Third-Parties

By Mark Johnston | 27/12/2023

Banks are asked to use scenario-based incident response strategies and regular drills to better prepare for supply chain attacks.

Fintech / Regtech

Cambodia, China Launch Cross-border QR Payment Link

By Editors | 27/12/2023

Visitors from China can use UnionPay-enabled mobile apps to scan KHQR codes in Cambodia. By early 2024, Cambodian residents will be able to use their Bakong wallets in China.

Big Picture

OECD Calls for Financial Regulators to Guide GenAI Deployment

By Ranamita Chakraborty | 26/12/2023

Financial regulatory frameworks safeguard market integrity and ensure consumer protection against risks associated with GenAI’s adoption, noted an OECD paper.