FINTECH / REGTECH

Big Picture

No Immediate Financial Stability Risks from Cloud Services: FSB

By Manesh Samtani | 10/12/2019

While no immediate financial stability risks have been identified, there may be new issues to consider given the scale of services provided via the cloud and the small number of globally dominant players.

Big Picture

BigTechs Could Raise Issues for Policymakers: FSB

By Manesh Samtani | 10/12/2019

BigTech firms could raise a range of issues for policymakers, warranting additional regulation and/or financial oversight over their activities, the FSB says in a new report.

Fintech / Regtech

Beijing to Pilot Fintech Regulatory Framework

By Editors | 09/12/2019

The pilot will allow the PBOC to explore regulatory tools that it can use as part of a nationwide supervisory framework for fintech.

Fintech / Regtech

Japan Probes Barriers Preventing Fintechs Access to Zengin System

By Editors | 09/12/2019

Japan’s antitrust agency is looking into how banks decide fees for using the national interbank funds transfer system and whether they present an entry barrier for fintechs.

Fintech / Regtech

China to Increase Oversight Over Banking & Finance Mobile Apps

By Editors | 06/12/2019

The National Internet Finance Association has launched a 23-firm pilot scheme to address concerns around risks to user privacy from financial institutions’ mobile apps.

AML / KYC

India’s Cabinet Approves Personal Data Protection Bill

By Editors | 06/12/2019

Under the bill, major violations of data privacy norms can be penalised with jail terms, or monetary fines up to 150 million rupees or 4% of a company’s worldwide turnover, whichever is higher.

AML / KYC

Sri Lanka to Develop Shared KYC Facility Using Blockchain

By Editors | 06/12/2019

The CBSL is inviting software development companies to apply (by 31 December) to help in the development of a proof-of-concept of a shared KYC facility.

Fintech / Regtech

Korea Announces New Measures to Boost Fintech Development

By Editors | 05/12/2019

Among other measures, the FSC said that it would promote the use of regulatory sandboxes to produce at least 100 cases of innovative financial services by March 2020.

Fintech / Regtech

Singapore Brokerages to Enter Race for Digital Bank Licences

By Garima Chitkara | 04/12/2019

Domestic brokerages Phillip Securities and iFAST prepare to draw up applications digital banking licence to fend off competition from foreign entrants and domestic banks expanding into brokerage business.