Fintech / Regtech

HKMA Asks Banks to Participate in New Data Sharing Initiative

By Editors | 15/08/2023

The Interbank Account Data Sharing Initiative will enable banks to share bank account data with other banks, subject to customer consent.

Fintech / Regtech

India Contemplates New Law to Regulate Big Tech

By Sanday Chongo Kabange | 15/08/2023

An MCA-led committee led will this month complete the first draft report on the need for ex-ante regulation for big tech firms via a new law.

Fintech / Regtech

Taiwan FSC to Establish New Rules for Robo-Advisor Services

By Editors | 15/08/2023

Robo wealth management services are currently being offered by 16 financial institutions. Legislation will be ready in H1 2024.

Crypto / Digital Assets

MUFG, NTT Data Announce Partnership on Digital Corporate Bonds

By Editors | 14/08/2023

NTT Data will connect its corporate bond issuance infrastructure directly to MUFG’s Progmat platform for issuing security tokens.

Fintech / Regtech

RBI Awards AI-based SupTech Contract to McKinsey, Accenture

By Editors | 14/08/2023

The RBI invited expressions of interest last September. The $10mn contract has now been awarded to McKinsey and Accenture.

Big Picture

Inside ASIC’s Derivatives Reporting Rule Rewrite

By Manesh Samtani | 14/08/2023

ASIC’s Alex Orgaz-Barnier and DTCC’s Priya Kundamal spoke to Regulation Asia about the changes to the derivative transaction reporting regime in Australia.

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.

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