FINTECH / REGTECH

Fintech / Regtech

UPDATED – ZA Bank Becomes First HK Virtual Bank to Launch Pilot Services

By Editors | 19/12/2019

ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA’s sandbox mechanism.

Fintech / Regtech

Cryptoasset Risk in Misalignment with Investor Profiles: OECD

By Editors | 18/12/2019

New OECD research has found a strong likelihood of misalignment between the risk profiles of some financial consumers and the riskiness of cryptoassets.

AML / KYC

HKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings

By Editors | 17/12/2019

Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.

Fintech / Regtech

FSC Korea Grants Preliminary Approval to Third Internet-only Bank

By Editors | 17/12/2019

Led by mobile money transfer app operator Viva Republica, the Toss Bank consortium expects to commence operations as an internet-only bank during the first six months of 2021.

Fintech / Regtech

CPMI Offers Guidance for Designers of Wholesale Digital Tokens

By Editors | 12/12/2019

The report describes the potential innovations and design questions associated with digital tokens that could be used to settle large-value payments.

Big Picture

RegTech Association Flags Under-Investment in Australian Regtech

By Manesh Samtani | 12/12/2019

Despite Australia having everything needed to be a global RegTech leader, mainstream adoption is being stymied by an equity gap, says new research from the RegTech Association.

AML / KYC

Big Data is Transforming Investigations

By Jeremy Birch | 12/12/2019

Big data is rapidly changing how regulators and law enforcement conduct investigations and build cases, say Jeremy Birch, Peter Jones and Kyle Wombolt at Herbert Smith Freehills.

AML / KYC

Japan Banks to Join JPM Blockchain Initative to Boost AML Measures

By Editors | 11/12/2019

Japanese banks are looking to use JP Morgan’s Interbank Information Network to bolster AML measures because it makes screening of cash recipients faster and more efficient.

Fintech / Regtech

KRX to Tighten Rules on Algorithmic and AI-based Trading

By Editors | 11/12/2019

Algorithmic trading is not illegal in Korea, but authorities have long been concerned that the practice may cause market confusion and disadvantage retail investors.