All payments during the trial were processed end-to-end within 60 seconds, demonstrating the service's capabilities to scale and integrate with other real-time payment systems.
Moody's says problem loan coverage has improved for many APAC banks, offsetting overall declines in CET1 ratios as a result of IFRS 9.
The new standards complement the ASEAN Green Bond Standards introduced last year. A new framework also announced will facilitate cross-border movement of investment advisers.
The MOU will facilitate information sharing, promote joint innovation projects and establish a framework to help fintech firms better understand each market.
While AMLD5 confirms the EU’s leadership role in AML legislation, similar efforts have been seen in Asia, says Claus Christensen at Know Your Customer Ltd.
New ASIFMA whitepaper advocates regional harmonisation of data privacy rules to facilitate continued growth of fintech ecosystems in Asia.
Malaysia needs to be on par with global legislation on data protection such as GDPR, said Minister Gobind Singh Deo at a recent conference.
The pilot uses distributed ledger technology to enhance efficiency, transparency and security while reducing operating costs in the sales of government savings bonds.
Visa B2B Connect uses blockchain tech to enable faster, simpler and more secure processing of payments between participating banks on behalf of corporate clients.
The former head of an agency credited with leading Indonesia out of the 1998 financial crisis reportedly caused state losses of over $300mn.