Fintech / Regtech

Market Infrastructure

Japan: Security Failures Force New Payments Service to Shut

By Editors | 06/08/2019

The security breach saw more than 38mn yen stolen from more than 800 accounts in the days after the July launch of a new mobile payment service for convenience stores.

Big Picture

Singapore: Two-Thirds of Consumers Willing to Try Digital Banks

By Editors | 03/08/2019

A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.

Big Picture

Global Crypto Trading Should be Guided by IOSCO Principles: WFE

By Editors | 03/08/2019

“Innovation which has the potential to present systemic risk or is allowed to operate in an unchecked or unregulated manner is detrimental to financial markets and investor interests.”

Fintech / Regtech

Australia Passes Consumer Data Right Legislation

By Manesh Samtani | 02/08/2019

The passage of the Consumer Data Right legislation clears the way for open banking to start in Australia in February 2020.

Fintech / Regtech

TSE Seeks ‘Data Sandbox’ Partners to Support Innovation

By Editors | 02/08/2019

The Tokyo Stock Exchange is looking to startups, data providers and so-called ‘innovation partners’ to help create new services for the securities sector.

Market Infrastructure

HKMA Reports on Open API Implementation Progress

By Editors | 01/08/2019

Phase I Open APIs provide information on banking products and services. Phase II will allow banks to process applications for such products and services by end-October.

Securities / Derivatives

SFC Raises Standards for Data Submissions by Brokers

By Manesh Samtani | 01/08/2019

In-scope brokers are expected to implement system changes and make other arrangements needed for compliance with the new Data Standards by end-October 2020.

Fintech / Regtech

Taiwan Issues First Three Digital Bank Licences

By Editors | 31/07/2019

The three digital only bank licences went to conglomerates led by Japan’s LINE Group; Taiwan’s Chunghwa Telecom; and Japanese e-commerce firm Rakuten Inc.

Fintech / Regtech

RBA Policy Shift Opens Australian Payments Market to Tech Firms

By Manesh Samtani | 31/07/2019

An RBA policy update will make it easier for fintechs – and so-called BigTechs – to enter Australia’s payments system without having to obtain a banking licence.