Fintech / Regtech

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    Enforcement

    RBA Drops Plan to Ban Default Routing on Debit Cards

    By Ranamita Chakraborty | 18/08/2023

    A recent public consultation raised concerns that the ban could lead to unsuccessful transactions and necessitate the expensive reissuing of all debit cards.

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    Fintech / Regtech

    China’s Non-bank Payment Sector Sees Shake-Up

    By Editors | 17/08/2023

    China’s third-party payment sector contracts, with prepaid card issuers exiting amid a stricter regulatory environment and dwindling business.

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    Fintech / Regtech

    FSC Taiwan Releases Second 3-year Fintech Development Roadmap

    By Editors | 17/08/2023

    The first roadmap issued in 2020 has helped to shape a “friendly” fintech ecosystem and improve financial services, the FSC said.

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    Fintech / Regtech

    Taiwan FSC Consults on AI Use Principles for Financial Industry

    By Editors | 16/08/2023

    The six core principles cover governance, fairness, privacy, security, transparency and sustainable development.

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    Fintech / Regtech

    HKMA Asks Banks to Participate in New Data Sharing Initiative

    By Editors | 15/08/2023

    The Interbank Account Data Sharing Initiative will enable banks to share bank account data with other banks, subject to customer consent.

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    Fintech / Regtech

    India Contemplates New Law to Regulate Big Tech

    By Sanday Chongo Kabange | 15/08/2023

    An MCA-led committee led will this month complete the first draft report on the need for ex-ante regulation for big tech firms via a new law.

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    Fintech / Regtech

    Taiwan FSC to Establish New Rules for Robo-Advisor Services

    By Editors | 15/08/2023

    Robo wealth management services are currently being offered by 16 financial institutions. Legislation will be ready in H1 2024.

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    Crypto / Digital Assets

    MUFG, NTT Data Announce Partnership on Digital Corporate Bonds

    By Editors | 14/08/2023

    NTT Data will connect its corporate bond issuance infrastructure directly to MUFG’s Progmat platform for issuing security tokens.

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    Fintech / Regtech

    RBI Awards AI-based SupTech Contract to McKinsey, Accenture

    By Editors | 14/08/2023

    The RBI invited expressions of interest last September. The $10mn contract has now been awarded to McKinsey and Accenture.

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    Big Picture

    Inside ASIC’s Derivatives Reporting Rule Rewrite

    By Manesh Samtani | 14/08/2023

    ASIC’s Alex Orgaz-Barnier and DTCC’s Priya Kundamal spoke to Regulation Asia about the changes to the derivative transaction reporting regime in Australia.

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