Fintech / Regtech

Australian neobank Xinja announced in December that would be exiting the market, just 15 months after receiving its licence.

The PBOC and CBIRC have formally barred banks from selling personal fixed deposit products online via third party platforms, citing regulatory violations.

Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.

Hong Kong, Singapore and Tokyo each have an opportunity to demonstrate global leadership in the regtech sector, according to a panel of experts hosted by the Asia Society's Hong Kong Center.

The Guangdong Communications Administration ordered 30 firms including banks and securities firms to fix the breaches and revamp their mobile phone apps.

Investree Philippines is the first crowdfunding intermediary and funding portal to register with the SEC since rules covering the activity took effect in July 2019.

The commitments offered by LSEG fully address the competition concerns raised by the proposed transaction, the European Commission said in a statement.

Ant Group affiliate Alibaba and Tencent have so far been resistant to sharing their loan data with credit databases such as Baihang.

PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.

A new working group has been formed to study the risks of digital lending activities and recommend regulatory changes to enhance consumer protection and data security.