The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence.
Initially, bank customers will be able to access services from 10 banks, before the system is expanded to other banks and fintech firms in December.
The roadmap includes the development of new structured data capabilities, third party payment initiation, and the ability to link regular payments to a mobile number.
The HKMA outlines its expectations for the consumer protection practices financial institutions should adopt for Open API Phase II and beyond.
The workshop participants discussed two of the key challenges to implementing data analytics systems to fight financial crime – explainability and governance.
Data relating to margin transactions and short selling will be made available to testing participants to identify possible new applications of the data.
The updated supervisory policy manual seeks to strengthen risk management controls in electronic banking channels by providing more principle-based guidance.
The issues paper identifies five key factors for the fintech and regtech sectors which the committee will focus its attention on in a year long inquiry.
Launched in partnership with 7 financial institutions, the new system will enable real-time interbank transfers, mobile payments, and QR code payments.
Under Thailand's regulatory framework, 'ICO portals' help screen ICOs, conduct due diligence, prove smart contract source codes and verify KYC processes before they are released to the market.