FINTECH / REGTECH

AML / KYC

Australia to Roll Out ‘Confirmation of Payee’ in Early 2025

By Sanday Chongo Kabange | 09/08/2024

SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.

Fintech / Regtech

Google DeepMind Publishes Research on GenAI Misuse Tactics

By Nithya Subramanian | 09/08/2024

The researchers categorise GenAI misuse into two categories – exploitation of GenAI capabilities, and compromise of GenAI systems.

Fintech / Regtech

US Lawmakers Introduce Regulatory Sandbox Bill for AI

By Editors | 08/08/2024

The legislation would require the Fed, SEC, OCC, CFPB, FDIC, FHFA, and NCUA to establish regulatory sandboxes for AI experimentation.

Crypto / Digital Assets

Mox Becomes First HK Virtual Bank to Offer Crypto ETFs

By Sanday Chongo Kabange | 08/08/2024

Mox customers can invest in bitcoin and ether ETFs listed in Hong Kong and the US via the bank’s mobile app.

Fintech / Regtech

HKMA Consults on Renaming ‘Virtual Banks’ as ‘Digital Banks’

By Sanday Chongo Kabange | 07/08/2024

HKMA also published the results of its review of the industry, saying the requirement for virtual banks to primarily deliver retail banking services will be removed.

AML / KYC

The Case for Change: Leveraging GenAI in Anti-Financial Crime

By Bradley Maclean | 07/08/2024

GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.

Fintech / Regtech

HKMA Looks to Bolster Internal Cybersecurity Capabilities

By Manesh Samtani | 07/08/2024

HKMA is planning to deploy a new solution to help it identify “assets, vulnerabilities, and potential entry points that could be targeted by attackers” and manage its attack surface.

Fintech / Regtech

US Regulators to Jointly Adopt Common Data Standards

By Editors | 06/08/2024

The Federal Reserve, SEC, CFTC and six other agencies will adopt common identifiers including the LEI and UPI.

Capital / Liquidity

RBI Proposes Regulatory Principles for Managing Credit Models

By Ajoy K Das | 06/08/2024

Lenders using models from third parties have to ensure the contractual arrangements allow supervisory evaluations of the models by the RBI.