Fintech / Regtech

Fintech / Regtech

RBI Issues Draft Rules on Managing IT Outsourcing Risks

By Sanday Chongo Kabange | 28/06/2022

Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.

Fintech / Regtech

China Tightens Anti-Monopoly Rules to Improve Oversight

By Editors | 28/06/2022

The amendments seek to encourage innovation while also protecting fair competition in the market, incuding by raising penalties for monopolistic behaviour.

Fintech / Regtech

Impacts of New PCPD Guidance on Cross-border Data Transfers

By Albert Yuen | 27/06/2022

FIs in Hong Kong should review whether their commercial agreements contain requirements equivalent to the recommended model contractual clauses, say Albert Yuen and Eunice Lee.

Crypto / Digital Assets

Japan’s Soramitsu to Study CBDC in Vietnam, Fiji, Philippines

By Editors | 27/06/2022

Japan’s METI has selected Soramitsu to conduct CBDC feasibility studies in other APAC countries, building on its work in Cambodia and Laos.

Fintech / Regtech

China Approves Plans to Strengthen Payments, Fintech Regulation

By Editors | 27/06/2022

The plan, approved by President Xi Jinping, calls for the “complete inclusion” of payments and other financial activities within regulations.

AML / KYC

Corporate Registries Should Issue LEIs in Bulk: BIS Paper

By Manesh Samtani | 25/06/2022

Bulk LEI issuance by corporate registries would enhance the efficiency and reliability of data collection and reduce the per-company cost of applying for an LEI.

Fintech / Regtech

DBS Launches Overseas QR Payments for Singapore Users

By Editors | 24/06/2022

Users of the DBS mobile payment and wallet service known as PayLah! can scan UnionPay QR codes to pay in 45 countries.

Fintech / Regtech

Mojaloop Launches CBDC Center of Excellence in Singapore

By Editors | 24/06/2022

MAS welcomed the Center of Excellence, describing Mojaloop’s efforts as “a step forward into the future of financial services”.

Fintech / Regtech

HKMA to Prepare Roadmap for Promoting Key Fintech Areas

By Manesh Samtani | 23/06/2022

HKMA will formulate a detailed roadmap of initiatives to further promote Investech, Wealthtech, Insurtech and Greentech, as well as artificial intelligence and DLT.