Fintech / Regtech

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.

Fintech / Regtech

UK FCA Outlines Plans for Big Tech, Artificial Intelligence

By Manesh Samtani | 24/04/2024

The FCA will work with Big Tech firms to examine the value their data can bring to retail financial markets, with a view to potentially incentivising more data sharing.

Fintech / Regtech

PBOC Issues Draft Implementation Rules for New Payments Regulations

By Editors | 24/04/2024

Non-bank payment institutions will be allowed to transition to the new regulations depending on the validity of their existing licences, which can be up to five years.

Fintech / Regtech

China Launches Unified Account Inquiry Platform for Fund Investors

By Sanday Chongo Kabange | 23/04/2024

The platform provides a “one-stop” service for investors to query information about their holdings in public funds, regardless of fund manager or sales channel.

Fintech / Regtech

Hong Kong Launches New ‘One-Stop’ Platform for SMEs

By Sanday Chongo Kabange | 23/04/2024

The new ‘one-stop SME platform’ enables SMEs to “shop around” for lending services offered by the major banks.

Fintech / Regtech

India Explores Measures to Address Duopoly in Mobile Payments Market

By Ajoy K Das | 23/04/2024

Google Pay and PhonePe together account for nearly 86% of UPI transactions by volume. Support and incentives are being considered for smaller players.