FINTECH / REGTECH

Fintech / Regtech

India in Talks to Extend UPI’s Reach to Gulf Countries 

By Editors | 13/06/2023

India’s NPCI, with support from the RBI, is in talks to establish bank-to-bank transfer systems for cross-border remittances to Bahrain and Saudi Arabia.

Fintech / Regtech

IFSCA Consults on Regulations for GIFT City Payment Firms

By Mark Johnston | 13/06/2023

The proposed regulations cover authorisation, supervision, governance arrangements, and risk management.

Fintech / Regtech

MAS Launches Annual FinTech Hackcelerator, Focusing on ‘AI in Finance’

By Sanday Chongo Kabange | 13/06/2023

Fintech firms and solution providers are invited to address 16 problem statements related to AI in the financial services industry.

Crypto / Digital Assets

HKMA to Start ‘Paving the Way’ for e-HKD Implementation

By Manesh Samtani | 12/06/2023

The HKMA expects that it will take at least two to three years to build a wholesale layer of production grade for possible e-HKD implementation.

Fintech / Regtech

BIS Develops Smart Contract Prototype for SME Finance

By Editors | 09/06/2023

The prototype was developed as part of Project Dynamo, a collaboration between BIS Innovation Hub and HKMA to explore the use of digital tokens in supply chain finance for SMEs.

Capital / Liquidity

RBI Issues New Rules on Guarantee Arrangements in Digital Lending

By Mark Johnston | 09/06/2023

Loan service providers such as fintechs are allowed to provide default cover up to five percent of the loan portfolio.

Crypto / Digital Assets

Australia Issues New Strategic Plan for Payments System

By Manesh Samtani | 08/06/2023

A new licensing framework will be introduced, including for payment stablecoin issuers. RBA will explore fast payment links with other jurisdictions.

Fintech / Regtech

In Global First, UK to Require Banks to Reimburse Fraud Losses

By Karen Ng | 08/06/2023

The Payment Systems Regulator will make it mandatory for banks, building societies and payment firms to reimburse victims of APP fraud.

Fintech / Regtech

Australia Confirms it Will ‘Pause’ CDR Expansion Plan

By Sanday Chongo Kabange | 08/06/2023

Treasury is pausing plans to expand the CDR to the superannuation, insurance and telecommunications sectors.