Fintech / Regtech

Fintech / Regtech

Korean MyData Industry ‘The First of its Kind’, says FSC Vice Chair

By Editors | 15/11/2020

The FSC’s Doh Kyu-sang says 35 entities are currently under review to receive preliminary licences to participate in the MyData ecosystem.

Big Picture

DTCC Paper Offers Guidance on Cloud Adoption in Financial Services

By Editors | 13/11/2020

The paper suggests the establishment of a principles-based, harmonised regulatory framework to better support adoption of cloud services by financial institutions.

AML / KYC

New Opportunities for Banks in Client Onboarding

By Stephan Wolf | 12/11/2020

By adjusting their onboarding processes, FIs can enhance their client experience, reduce costs and pave the way for new cross border services, explains GLEIF CEO Stephan Wolf.

Fintech / Regtech

China Consults on Anti Monopoly Rules for E-commerce, Payments

By Editors | 11/11/2020

The new rules issued by China’s SAMR prohibit a range of monopolistic practices and are expected to impact internet giants Alibaba, JD.com, Tencent, and Meituan, among others.

AML / KYC

MAS Proposes to Strengthen FIs’ Identity Verification Process

By Editors | 10/11/2020

The proposed Notice will prohibit FIs from relying on common personal information such as NRIC number, residential address and date of birth as the sole means of identity verification.

Fintech / Regtech

Australian Regulators Propose New Regulatory Regime for SVFs

By Editors | 10/11/2020

The proposed framework includes flexibility to ensure that regulation is able to adapt to innovations such as digital wallet facilities and global stablecoins.

Market Infrastructure

FSB Advances Dialogue on Outsourcing, Third Party Relationships

By Manesh Samtani | 09/11/2020

An outage or failure at a single third party could create a single point of failure with potential adverse consequences for financial stability, the FSB says.

Fintech / Regtech

SGX Enables SingPass Authentication for CDP Transactions

By Editors | 09/11/2020

The introduction of SingPass offers CDP customers better convenience and security when they transact online, and forms part of SGX’s ‘CDP Goes Digital’ initiative.

Fintech / Regtech

MAS Announces Grant to Help Small FIs Adopt Reg Reporting Tech

By Editors | 09/11/2020

The grant provides funding support for smaller FIs to adopt regulatory reporting solutions from pre-approved providers – AxiomSL, KPMG Services and Wolters Kluwer.