FINTECH / REGTECH

Fintech / Regtech

APRA Grants TransferWise Licence to Directly Access NPP

By Editors | 30/11/2020

Access to Australia’s real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.

Fintech / Regtech

Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA

By Editors | 30/11/2020

The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.

Fintech / Regtech

Singapore E-wallets to Gain Direct Access to FAST, PayNow

By Manesh Samtani | 30/11/2020

Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.

Fintech / Regtech

NZX to Create Industry Working Group on Capital Markets Technology

By Editors | 30/11/2020

The working group will develop a roadmap to solve for New Zealand’s lack of scale and geographic isolation through the use of technology.

Fintech / Regtech

Australia, Singapore to Trial Paperless Trade Using Blockchain

By Editors | 29/11/2020

The Australian Border Force, Singapore Customs, and IMDA, as well as industry groups and financial institutions, will participate in the trial.

Fintech / Regtech

Philippine Central Bank Introduces Digital Banking Framework

By Editors | 27/11/2020

Foreign individuals and non-bank corporations are allowed to hold up to 40% of a digital bank’s voting shares, while foreign banks are allowed to hold up to 100%.

Fintech / Regtech

MAS On Track to Award Digital Bank Licences by Year-End

By Manesh Samtani | 26/11/2020

Regulatory changes impacting some of the Chinese digital bank applicants are unlikely to have an impact on the granting of the new licences in Singapore.

AML / KYC

AUSTRAC Reports on Fintel Alliance Efforts to Combat Criminal Threats

By Manesh Samtani | 25/11/2020

AUSTRAC has developed an algorithm that enables Fintel Alliance to detect suspicious financial patterns while protecting the privacy of underlying reporting entities and personal data.

Fintech / Regtech

Taiwan Credit Bureau to Provide Fintechs Access to Borrower Data

By Sanday Chongo Kabange | 25/11/2020

The Joint Credit Information Center is planning to establish a new credit database by October 2021 which will provide lending and repayment data to fintech firms.