Fintech / Regtech

Fintechs can apply for a one-time grant to cover daily working capital expenses, or for funding to cover proofs-of-concept developed with financial institutions on APIX.

Intermediaries and mutual fund distributors that want to use Aadhaar authentication services for e-KYC are required to enter into an agreement with one of the eight entities named.

The messaging standard is aimed at helping virtual asset service providers comply with FATF requirements to collect and transfer originator and beneficiary information.

The exchange will serve buyers and sellers of anonymised financial data, facilitating the use of analytics to develop new financial products and services, while also ensuring data security.

A 'strategic risk-based approach' to compliance and enforcement has been adopted, focusing on building consumer confidence in the security and integrity of the Consumer Data Right system.

The proposal includes scrapping a requirement for bank holding companies to obtain FSA approval to acquire more than 15% of nonfinancial companies.

The partnership will seek to promote Singapore’s capital market development, strengthen regional connectivity, support businesses, and explore the use of DLT in bond issuance.

The certifications took effect from 1 May, the same day the FSA said it would start enforcing new laws on crypto assets.

Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.

Regulatory burden on banks and technological improvements are likely the two most important factors behind shadow bank growth, a new paper says.