Fintech / Regtech

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.

Fintech / Regtech

South Korea to Formally Launch Open Banking System This Month

By Editors | 02/12/2019

October’s 10-bank pilot attracted over 5.5 million bank accounts with the open banking service now expanded to include eight additional banks and fintech firms.

Market Infrastructure

China Eyes Stronger Data Governance Standards for Financial Sector

By Editors | 28/11/2019

The China Banking Association is working to develop technology standards to facilitate data analysis, while also ensuring adequate security and data quality management.

Fintech / Regtech

Korea to Establish Legal Basis for Cryptocurrency Investment

By Editors | 27/11/2019

A bill passed by the national policy committee will subject digital asset businesses to penalties for not meeting FATF standards in their oversight systems for preventing money laundering.

Fintech / Regtech

Thailand to Launches DLT Pilot Trading Corporate Bonds

By Editors | 26/11/2019

The DLT project was first announced in September, and will first test trading with bonds before expanding to equities, derivatives and investment funds.

AML / KYC

We Need to Accelerate Regtech Transition in AML Work: HKMA

By Manesh Samtani | 23/11/2019

We need to enable a wider application of technology to AML work in the sector, deputy chief Arthur Yuen said at the HKMA’s its first AML/CFT RegTech Forum on Friday.