Fintech / Regtech

AML / KYC

Hong Kong Launches AML Information Sharing Platform for Banks

By Manesh Samtani | 21/06/2023

The five banks participating in the pilot phase are BOCHK, Standard Chartered, HSBC, Hang Seng Bank, and ICBC Asia.

Crypto / Digital Assets

BIS Offers Blueprint for Future Monetary & Financial System

By Editors | 21/06/2023

The BIS says the future financial system will combine tokenised money and assets on a programmable platform.

Big Picture

Richmond Fed Offers Insights on the Use of AI in Banking

By Manesh Samtani | 19/06/2023

Bank supervisors express optimism regarding banks’ ability to leverage AI-based models in credit evaluation, despite the challenges.

Fintech / Regtech

BOT Publishes New Consultation Paper on Virtual Bank Licensing Framework

By Editors | 19/06/2023

The consultation paper clarifies expectations for virtual banks to stimulate healthy competition and elaborates on the key qualifications of applicants.

Crypto / Digital Assets

Global Consortium Executes First “Quantum-Secure” Trade Transaction

By Sanday Chongo Kabange | 19/06/2023

The trade parties utilised IMDA’s ‘TradeTrust framework’ and placed a quantum-secure ‘seal’ on the electronic trade documents.

Crypto / Digital Assets

BIS Innovation Hub Concludes Joint CBDC Experiment With BOE

By Editors | 19/06/2023

Project Rosalind explored how a universal and extensible API layer could connect central bank and private sector infrastructures and facilitate retail CBDC payments.

Fintech / Regtech

New Zealand Updates Expectations on Use of Generative AI

By Editors | 18/06/2023

New Zealand Privacy Commissioner Michael Webster said AI users and developers need to make sure they are compliant with privacy law.

Fintech / Regtech

MAS Supports Balanced Approach to BNPL Regulation

By Editors | 16/06/2023

MAS said overly strict regulations would unnecessarily restrict BNPL providers and limit consumer choices.

Fintech / Regtech

BSP Proposes Enhance Guidelines for Electronic Fund Transfers

By Editors | 15/06/2023

In the event of unsuccessful transactions, financial institutions must return the amount to the sender within one hour.