Fintech / Regtech

The month-long testing phase facilitated more than 160 transfers and FX exchanges worth USD 22 million on the mBridge Ledger.

Hannah Cassidy and Natalie Curtis discuss key areas of concern for the SFC in relation to the online platforms operated by licensed firms.

Merchant acquirers will have to remove all proprietary static QR code payment labels. A new fee model will be introduced for SGQR members.

International organisations and policymakers will work alongside financial data service providers to help bring the utility to fruition.

Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.

The scheme will provide training subsidies to around 1,500 industry practitioners who have attained professional qualifications in fintech.

SEBI will scrutinise firms offering algorithmic trading services that claim high returns but cannot be audited or validated.

The guidance emphasises the need for due diligence of third-party service agents, ongoing monitoring, and prompt reporting of incidents.

Central to success is a high level of commitment to a “digital first” strategy, both from the regulatory community and the wider industry.

The three initiatives have the potential to revolutionise the digital payments ecosystem, said NPCI.