Fintech / Regtech

Fintech / Regtech

UPDATED – S. Korea to Boost Fintech Development with Open Banking

By Editors | 26/02/2019

The FSC plans to make banking APIs more open, accessible and cost-efficient so all nonbank fintech players can access Korea’s payment network.

AML / KYC

AUSTRAC Trials Reporting Automation through Smart Contracts

By Editors | 26/02/2019

The proof of concept project commenced in December 2018 and aims to help reporting entities automate the reporting of international funds transfers to AUSTRAC.

Fintech / Regtech

BSP Streamlines Licensing Process e-Financial Services Firms

By Editors | 25/02/2019

The move is in line with BSP’s reform agenda to promote digital innovation and increase availability of safer and more efficient channels for financial services.

Securities / Derivatives

Daiwa Securities Completes Trade Matching POC Using DLT

By Editors | 21/02/2019

Japan’s Daiwa Securities Group has announced the completion of a proof of concept studying the effectiveness of using distributed ledger technology in trade matching processes.

Fintech / Regtech

Japan to Allow Non-Banks to Handle Large Remittances

By Editors | 21/02/2019

In a bid to improve remittance services in the country and promote fintech, Japan plans to ease limits on non-banks providing money transfer services.

Enforcement

China Freezes $1.5bn in Assets, Arrests 62 in P2P Purge

By Editors | 20/02/2019

Since last June, a crackdown on peer-to-peer lenders by China’s Ministry of Public Security, codenamed ‘Fox Hunt’, has yielded $1.5bn in seized assets and 62 arrests.

Capital / Liquidity

Indonesia Sets New Capital Requirements for Crypto Players

By Editors | 15/02/2019

Crypto asset traders and exchanges in Indonesia say the high capital requirements for participating in crypto futures will hinder the development of the sector.

Fintech / Regtech

BigTechs, Outsourced Services Pose Financial System Risk – FSB

By Manesh Samtani | 14/02/2019

The FSB warns that BigTechs can achieve scale in finance very quickly, raising competitive pressures on incumbents. Rising dependencies on third-party services also present risks.

Fintech / Regtech

Taiwan FSC Sets Up Panel to Review Internet-only Bank Applications

By Editors | 14/02/2019

The new panel will assess formal applications for internet-only bank licences. Chunghwa Telecom, Waterland Financial and Line Financial are each seeking licences.