Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.
Recent initiatives by HSBC to shift to lower-cost, digital-first services are largely seen as a response to new competition from virtual banks in Hong Kong.
Kakao Enterprise's AI technology will initially be used for task support such as taking meeting minutes, before the partnership later expands to support BOK policy-making.
MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.
Covid-19 has kickstarted a rush to digitisation. Changes not expected for another 5-10 years will now be seen over the next 18 months, says Fenergo's Greg Watson.
Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.
AMTD and Xiaomi Finance will provide S$5mn to support to enable SMU and NUS-ISS to build curriculum and teaching resources for a digital finance leadership programme.
The European FinTech Association will seek to remove cross-border barriers in financial services, including to streamline fragmented AML rules and address IBAN discrimination.
A CBDC prototype developed by Digital Ventures will be integrated with systems at industrial conglomerate Siam Cement PCL and its suppliers.
Douglas Arner explains how Bitcoin, Libra, China's digital currency project, and Covid-19 have each played a role in catalysing what will be a fundamental reorientation of monetary and payment systems.