FINTECH / REGTECH

AML / KYC

S. Korea Approves Use of Biometrics for Digital Identification

By Editors | 06/07/2020

Korea’s Fair Trade Commission has revised bank transaction law to allow the use of biometrics for identification in bank teller transactions.

AML / KYC

Taiwan Financial Firms Call for KYC Rule Changes

By Editors | 04/07/2020

Taiwanese financial firms are asking the FSC to allow identity authentication methods other than the unwieldy government-issued Citizen Digital Certificates.

Fintech / Regtech

South Korea Enhances Credit Database in Open Data Push

By Editors | 03/07/2020

Korea’s CreDB system will be enhanced with additional datasets and increased server capacity to support deep learning and other types of AI-based data analysis.

Big Picture

Virtual Banks Could Shake Up Funds Industry – Report

By Editors | 03/07/2020

Successful virtual banks are likely to branch out into wealth management services, robo-advisory and fund distribution, says a new Calastone paper.

Fintech / Regtech

BIS Innovation Hub Can Draw Lessons from GFIN

By Manesh Samtani | 03/07/2020

As the BIS Innovation Hub widens its reach, success will rely on its ability to cultivate a supportive ecosystem which includes financial institutions and innovators alike.

Fintech / Regtech

Hong Kong Offers Wage Subsidy to Local Fintechs

By Editors | 02/07/2020

Fintech companies registered in Hong Kong can apply for a salary subsidy to fill a new full-time position for a maximum of 12 months.

AML / KYC

New FATF President Presents Objectives For Two-Year Term

By Editors | 01/07/2020

FATF President Marcus Pleyer will prioritise work on digital transformation, racially motivated terrorism, migrant smuggling, environmental crime, and illicit arms trafficking.

Fintech / Regtech

Australia Launches Open Banking Data Sharing Regime

By Editors | 01/07/2020

The big four banks have opened up their deposit, transaction account, credit and debit card data for customers to share with other major banks or accredited fintech providers.

Market Infrastructure

The New Normal: Conduct Risk & Personal Accountability

By Stephen Scott | 01/07/2020

Increasingly, leaders along all Three Lines of Defence are being held personally accountable for misconduct that takes place on their watch, says Stephen Scott at Starling.