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Fintech / Regtech
RBI Announces Planned Upgrades to UPI System
By Editors | 13/08/2023
One new feature will enable users to initiate UPI transactions by conversing with an AI-powered system. Japan is exploring a potential UPI linkage.
AML / KYC
Bangladesh Banks Directed to Simplify Account Opening for NRBs
By Editors | 12/08/2023
Banks are directed to launch digital systems to enable non-resident Bangladeshis to open accounts and invest in the country from overseas.
Fintech / Regtech
Indian Lawmakers Pass New Data Protection Law
By Manesh Samtani | 11/08/2023
The law has raised concerns over the excessive powers granted to the government to access private data without consent.
Fintech / Regtech
China Proposes to Tighten Rules on Use of Facial Recognition Tech
By Editors | 11/08/2023
The draft rules prohibit the misuse of facial recognition technology by entities and in public spaces including banks.
Fintech / Regtech
China Launches New Data Platform for Regional Equity Markets
By Editors | 10/08/2023
The platform enables market participants to gain a unified view of corporate data from China’s 30-plus regional equity markets.
Crypto / Digital Assets
Fed Unveils New Supervision Programme for Banks Engaging With Crypto
By Manesh Samtani | 10/08/2023
The Fed requires banks to obtain a written notification of supervisory nonobjection before engaging in activities involving stablecoins.
AML / KYC
Cambodia to Leverage Indonesia Experience to Strengthen Non-Bank Financial Sectors
By Editors | 10/08/2023
The MoU will help Cambodia enhance its non-bank financial services sectors, focusing on knowledge exchange and collaborative development.
Fintech / Regtech
UK Commits to Taking Forward Payments System Reforms
By Editors | 09/08/2023
The reforms will include a regulatory regime for future systemically important stablecoins used as a means of payment.
AML / KYC
OCBC Integrates Anti-Malware Feature in Mobile Banking App
By Manesh Samtani | 08/08/2023
OCBC’s digital banking app will now only work on mobile devices if their mobile apps are all downloaded from official app stores.
Fintech / Regtech
MAS Earmarks S$150m to Propel Innovation in Financial Sector
By Editors | 08/08/2023
MAS earmarked SGD 150 million for financial tech advancements, aiming to foster innovation and support the evolving fintech ecosystem.
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