Fintech / Regtech

Fintech / Regtech

Covid-19 Delays Launch of Taiwan Digital Banks: FSC

By Editors | 28/06/2020

Despite the delays, operations are still likely to commence by year-end at the three new digital banks – Line Bank, Next Bank, and Rakuten Bank.

Fintech / Regtech

RBI Issues Guidelines on Use of Digital Lending Platforms

By Editors | 26/06/2020

Digital lending platforms often do not disclose the name of the bank or NBFC providing the loaned funds. Under the new rules they will have to.

Fintech / Regtech

Ping An OneConnect Bank to Pilot Virtual Banking Services

By Editors | 26/06/2020

Ping An OneConnect Bank is inviting 200 SMEs and 2,000 retail customers to pilot test its virtual banking services in the HKMA’s sandbox.

Fintech / Regtech

IOSCO Drafts Guidance on Supervising AI/ML in Financial Markets

By Editors | 25/06/2020

IOSCO proposes six measures to assist members in creating appropriate regulatory frameworks to supervise market intermediaries and asset managers that use AI and ML.

Fintech / Regtech

FMSB Issues Statement of Good Practice on Algo Trading

By Editors | 25/06/2020

The FICC Markets Standards Board sets out 10 Good Practice Statements for market participants and venue operators engaged in algorithmic trading in a new transparency draft.

AML / KYC

NZ Police Seize $90m Allegedly Laundered with Bitcoin

By Editors | 25/06/2020

The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.

Market Infrastructure

CBDCs Could Amount to ‘Sea Change’ for Payments: BIS

By Manesh Samtani | 24/06/2020

Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.

AML / KYC

HSBC Offers Remote Account Opening to Hong Kong SMEs

By Editors | 24/06/2020

Recent initiatives by HSBC to shift to lower-cost, digital-first services are largely seen as a response to new competition from virtual banks in Hong Kong.

Fintech / Regtech

BOK to Boost AI Capabilities Through Kakao Partnership

By Editors | 23/06/2020

Kakao Enterprise’s AI technology will initially be used for task support such as taking meeting minutes, before the partnership later expands to support BOK policy-making.