Fintech / Regtech

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.

Fintech / Regtech

MAS Seeks Cooperation with China on Green Finance

By Editors | 23/06/2020

MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.

AML / KYC

APAC Banks Will Come Out Stronger Post Pandemic

By Greg Watson | 23/06/2020

Covid-19 has kickstarted a rush to digitisation. Changes not expected for another 5-10 years will now be seen over the next 18 months, says Fenergo’s Greg Watson.