Fintech / Regtech

Fintech / Regtech

Hong Kong Launches Pilot Programme for Multiple-CRA Model

By Manesh Samtani | 20/11/2023

Participating individuals can obtain consumer credit reports from three CRAs, to review the accuracy of data and assess their overall service performance.

Fintech / Regtech

BIS Innovation Hub Unveils First Use Case for Project Mandala

By Editors | 20/11/2023

Project Mandala seeks to address disparate policy and regulatory frameworks across jurisdictions that hinder cross-border payments.

Fintech / Regtech

PBOC Allows Mastercard to Launch China Card Clearing Business

By Editors | 20/11/2023

Mastercard is the second overseas bank card clearing institution to enter the Chinese market, after an American Express unit was granted approval in 2020.

Fintech / Regtech

India’s UCO Bank Calls in Federal Investigators to Probe Payments Disruption

By Ajoy K Das | 19/11/2023

The CBI is being called in to investigate a possible cyber-attack or manipulation of the state-owned bank’s internal systems.

Market Infrastructure

MAS Launches Payment Linkages with Malaysia, Indonesia

By Editors | 19/11/2023

The payment links are described as “significant milestones” to enable faster and cheaper cross-border payments and promote greater regional economic integration.

Big Picture

Regulatory Intervention Needed to Address Cloud Adoption Risks: BIS Paper

By Manesh Samtani | 18/11/2023

Indirect oversight of CSPs, i.e. requiring financial firms to manage the risks, “may not be sufficient from a systemic perspective”, the paper says.

ESG / Sustainability

MAS Launches Digital Platform to Streamline ESG Reporting

By Editors | 17/11/2023

The new platform will consolidate and synergise all of Project Greenprint’s existing utilities and help companies automate their ESG reporting process.

AML / KYC

Pacific Islands to Bolster Sharing of Financial Intelligence

By Editors | 17/11/2023

Pacific Island FIUs met in the Cook Islands this week. It was revealed that AUSTRAC provided the Cook Islands FIU a new data analytics system.

AML / KYC

MAS Issues Draft Requirements for Data Sharing Through COSMIC

By Manesh Samtani | 17/11/2023

The requirements cover the internal policies FIs must put in place to share information through COSMIC, and the appropriate use and safeguarding of information received.