Fintech / Regtech

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.

Crypto / Digital Assets

Cambodia Issues New Regulatory Framework for Crypto

By Manesh Samtani | 30/12/2024

Banks can only have direct exposure to Group 1 cryptoassets. Services offered to customers can include other cryptoassets.

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.