Fintech / Regtech

Fintech / Regtech

BNM Issues Policy Document Targeting Outsourcing Risk at FIs

By Editors | 31/12/2018

Malaysia’s central bank has raised expectations on the board and senior management to ensure effective oversight and governance of outsourcing arrangements.

Enforcement

S. Korea’s Largest Crypto Exchange Accused of Inflating Volumes, Prices

By Editors | 27/12/2018

South Korea’s Upbit is alleged to have used bots to manipulate trading volumes and prices to attract investors to the exchange. Two officers and an employee have been indicted.

Crypto / Digital Assets

India Eyes Introduction of Sandbox Policy to Boost Capital Markets Innovation

By Editors | 24/12/2018

SEBI is examining whether legislative changes are required for the sandbox, as it seeks to enable the use of machine learning, artificial intelligence and blockchain in capital markets.

Fintech / Regtech

S. Korea to Accept Internet-Only Bank Applicants in March

By Editors | 24/12/2018

Two new internet banks will be granted preliminary regulatory approval by May, allowing them to provide loans to consumers, households and SMEs, but not to corporates.

Fintech / Regtech

APRA Grants Second ‘Restricted ADI’ Licence

By Editors | 19/12/2018

Xinja Bank, the latest recipient of the restricted ADI licence, has a prepaid card on the market and an ASIC-approved home loan product.

Crypto / Digital Assets

Japan FSA Publishes New Draft Framework on Crypto Assets

By Manesh Samtani | 19/12/2018

The framework will impose restrictions on privacy coin listings, margin trading, derivative transactions and ICOs, and introduce new requirements to protect investors against hacks.

Market Infrastructure

Hong Kong Faces Skills Shortage in Fintech, Cybersecurity – Survey

By Editors | 17/12/2018

Fintech and cybersecurity were viewed as the areas with the largest skills shortage, followed by a skills gap in regulatory and compliance knowledge.

Fintech / Regtech

NAB to Migrate Core Banking Systems to Cloud

By Manesh Samtani | 12/12/2018

National Australia Bank plans to migrate more than 300 applications, including some core banking systems, to a public cloud by the end of 2019.

Fintech / Regtech

Australia Passes ‘Deeply Flawed’ Anti-Encryption Bill

By Manesh Samtani | 11/12/2018

The powers granted under the bill allow law enforcement agencies to compel access to encrypted messages, which could have broader implications for financial services.