Fintech / Regtech

Fintech / Regtech

RBI to Explore New Regulatory Approach to Digital Lenders

By Editors | 14/01/2021

A new working group has been formed to study the risks of digital lending activities and recommend regulatory changes to enhance consumer protection and data security.

Fintech / Regtech

Taiwan FSC Approves Banks for Second Phase of Open Banking

By Editors | 10/01/2021

Following the launch of the first phase in September 2019, the second phase of open banking will involve the exchange of customer data.

Fintech / Regtech

AI is Bringing a Generational Change to the RegTech Industry

By Lukas Petrikas | 07/01/2021

Artificial intelligence can bring a generational change to the RegTech industry as it strengthens and enhances regulatory and supervisory capabilities, says HKEX’s Lukas Petrikas.

Enforcement

PBOC Penalises Tenpay, Three Others for Violations – Report

By Editors | 07/01/2021

Tencent’s payment platform Tenpay was fined for providing payment services for illegal and false transactions, and processing QR code payments without a licence.

Fintech / Regtech

MAS Announces Completion of Phase One of Veritas Initiative

By Editors | 06/01/2021

The first phase of Veritas resulted in the development of a fairness assessment methodology based on the FEAT principles for two use cases.

AML / KYC

White House Bans US Transactions With Chinese Payment Apps

By Editors | 06/01/2021

White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.

Fintech / Regtech

BNM Opens Six Month Application Period for Digital Bank Licences

By Manesh Samtani | 03/01/2021

Applicant must demonstrate a commitment to driving financial inclusion. Preference will be accorded to applications where the controlling interest resides with Malaysian nationals.

AML / KYC

Hong Kong Launches New Digital Identity Platform ‘iAM Smart’

By Manesh Samtani | 02/01/2021

The SFC, HKMA, IA and MPFA are encouraging FIs to adopt iAM Smart in their businesses for customer authentication, document signing, and remote onboarding.

Fintech / Regtech

US Regulators Call for Responsible Stablecoin Design, Operation

By Editors | 31/12/2020

Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.