FINTECH / REGTECH

AML / KYC

HKMA Directs Banks to Implement More Anti-Scam Measures

By Manesh Samtani | 28/12/2024

HKMA says banks should seek Police assistance and consider holding the transaction if they believe a customer is being scammed.

Fintech / Regtech

South Korea Passed Law to Establish Regulatory Framework for AI

By Manesh Samtani | 28/12/2024

The passage of the AI Basic Act makes Korea just the second jurisdiction in the world after the EU to establish a comprehensive legal framework specifically governing AI

Fintech / Regtech

KRX, KSD Sign MOU to Establish Information Sharing System

By Editors | 27/12/2024

The information sharing system will help both organisations automate tasks and speed up the issuance and listing of securities.

Big Picture

BIS Paper Encourages Wider Global Adoption of FPS

By Manesh Samtani | 26/12/2024

The paper examines how FPS have revolutionised payments, drawing lessons from Brazil’s Pix, Costa Rica’s SINPE Móvil, and India’s UPI.

Fintech / Regtech

FSC Korea Announces Schedule for Internet-only Bank Applications

By Manesh Samtani | 26/12/2024

Six consortia are interested in applying for an internet-only bank licence. Applicants with links to established FIs are seen as leading candidates.

Fintech / Regtech

UnionPay, WeChat Pay Collaborate to Make Payments Easier for Foreigners

By Editors | 23/12/2024

Travellers using any of eight overseas e-wallets including HSBC’s PayMe and Naver Pay can now make payments on the mainland by scanning WeChat QR codes.

Fintech / Regtech

ASX Recovers from Worst Market Disruption in Four Years

By Editors | 23/12/2024

No trade settlements took place on Friday due to a “CHESS batch settlement delay”. Engineers had to work through the weekend to resolve the issue.

Fintech / Regtech

HKMA’s Carmen Chu Urges Banks to ‘Embrace the Opportunities’ of GenAI

By Sanday Chongo Kabange | 22/12/2024

HKMA’s Carmen Chu said banks should foster a culture of “continuous learning” within their institutions and experiment with HKUST’s InvestLM GenAI Platform.

Fintech / Regtech

Australia Proposes to Mandate Cash Acceptance for Essential Items

By Editors | 22/12/2024

Australia’s Treasury proposes to require certain types of businesses to accept cash, with potential limits on the mandate such as transaction caps or time limits.