FINTECH / REGTECH

Fintech / Regtech

HKMA Publishes Highlights from First AML/CFT RegTech Forum

By Manesh Samtani | 27/12/2019

Access to quality data and a more proactive knowledge sharing approach are critical to moving to intelligence-led methods in financial crime risk management.

Crypto / Digital Assets

MAS Consults on Application of Payment Services Act to Stablecoins

By Manesh Samtani | 26/12/2019

MAS seeks views on whether stablecoin holders deserve the same regulatory protections as e-money, and whether other regulations should be introduced to maintain price stability.

Fintech / Regtech

ASIC Publishes Findings from 2019 Regtech Initiatives

By Editors | 25/12/2019

Participants said the exponential growth in data volume means the financial services industry must consider implementing regtech as an ‘imperative’ to undertake risk management and compliance functions.

Fintech / Regtech

HKMA Publishes Report on AI Adoption by Hong Kong Banks

By Manesh Samtani | 24/12/2019

The lack of employees with AI expertise was cited by 70% of respondents as the top barrier to AI adoption, according to a survey.

AML / KYC

FSC Korea Enables Online Account Opening for Foreigners

By Editors | 24/12/2019

The FSC will allow non-face-to-face account opening by foreigners residing in Korea, and by legal representatives of corporations.

Fintech / Regtech

ICMA Publishes DLT Regulatory Directory and Brief

By Editors | 23/12/2019

The directory and brief seek to provide a non-exhaustive overview of recent DLT regulatory guidance, legislative initiatives, strategy papers and other publications in selected jurisdictions.

Capital / Liquidity

BCBS Addresses Capital Requirements for “Crypto-Assets”

By Douglas Cheung | 23/12/2019

The BCBS consultation will likely give an indication of the banking industry’s mindset towards holding cryptoassets in the future, says Douglas Cheung at Wolters Kluwer.

Fintech / Regtech

ACCC Delays Open Banking Launch for More Testing

By Editors | 20/12/2019

Under the new timeline, consumers can direct the major banks to share credit and debit card, deposit and transaction data from July 2020, and mortgage and personal loan data from November 2020.

Fintech / Regtech

South Korea Formally Launches Open Banking Service

By Editors | 20/12/2019

Open banking will serve as a catalyst for various innovations and bring tectonic shifts in the financial industry, FSC chairman Eun Sung-soo said at the launch event.