FINTECH / REGTECH

AML / KYC

India to Implement Payee Name Checking on RTGS, NEFT by April

By Editors | 05/01/2025

Banks have until 1 April 2025 to implement the beneficiary account name look-up facility for RTGS and NEFT transfers.

Fintech / Regtech

HKMA Calls on Banks to Participate in Cyber Intelligence Platform

By Sanday Chongo Kabange | 03/01/2025

The HKMA welcomed enhancements to the Platform announced by HKAB and called on banks to actively participate in the initiative.

Fintech / Regtech

RBI Forms Committee to Develop Regulatory Framework for AI

By Editors | 03/01/2025

The committee includes experts from IIT Bombay, NASSCOM, IIT Madras, MEITy, Trilegal, HDFC Bank, Microsoft, and the RBI.

AML / KYC

Taiwan FIs to Connect ‘Financial Fast-ID’ Verification Systems

By Editors | 02/01/2025

A cross-system verification hub is being developed to connect the existing digital identity verification systems of various FIs.

Sanctions

Japan FSA Requests Self-Inspections from Crypto Exchanges

By Manesh Samtani | 02/01/2025

The JVCEA is asked to ensure member crypto exchanges assess their vulnerability to North Korean cyberattacks, focusing on wallet management.

Fintech / Regtech

UnionPay Enhances QR Payments Connectivity with Laos

By Editors | 01/01/2025

UnionPay has enabled Chinese e-wallets to scan QR codes in Laos to make payments to local merchants

AML / KYC

Vietnam Launches Nationwide Campaign Against Online Fraud

By Editors | 01/01/2025

Measures include developing an interagency coordination model and enhancing account verification, Internet banking security, and controls on crypto-related transactions.

Fintech / Regtech

Bank Indonesia Launches Three New BI-FAST Services

By Editors | 01/01/2025

The new services enable real-time bulk transfers, requests for payment functionality, and direct debit transfers for routine payments.

Fintech / Regtech

Taiwan FSC Relaxes Policy on Digital Insurer Licensing

By Manesh Samtani | 31/12/2024

Digital insurers allowed to operate physical branches. Paid-in capital requirement halved. Foreign providers can apply to open Taiwan branch.