FINTECH / REGTECH

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    Big Picture

    Report Urges Swift Action to Cement Hong Kong’s Status as Web3 Hub

    By Manesh Samtani | 23/06/2025

    New report by Web3 Harbour and PwC outlines several key enablers for Hong Kong to become a global financial centre for Web3 and digital assets.

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    Fintech / Regtech

    Mainland China and Hong Kong Launch Fast Payments Link

    By Sanday Chongo Kabange | 23/06/2025

    HKMA and PBOC launched “Payment Connect”, streamlining cross-boundary payments and remittances between Hong Kong and Mainland China.

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    Fintech / Regtech

    BSP Proposes Model Risk Management Guidelines for FIs

    By Sanday Chongo Kabange | 20/06/2025

    The BSP has proposed model risk management guidelines for financial institutions to enhance operational resilience and mitigate potential losses.

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    Fintech / Regtech

    Thailand Awards Three Virtual Banks Licences

    By Manesh Samtani | 20/06/2025

    Thailand has awarded virtual bank licences to three consortia, including one led by SCB X in partnership with China’s WeBank and Korea’s KakaoBank.

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    Fintech / Regtech

    UBS, Pictet Suffer Data Leak Following Cyberattack on Vendor

    By Thisanka Siripala | 20/06/2025

    Both banks said client information was not affected by the cyberattack on Chain IQ, only employee-related data.

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    Fintech / Regtech

    South Korea Launches Enhanced “MyData 2.0” Service

    By Sanday Chongo Kabange | 19/06/2025

    “My Data 2.0” incorporates seven improvements announced in April 2024 including full financial asset consolidation and enhance consumer protections.

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    Enforcement

    ACCC Fines NAB Over CDR Data Quality Issues

    By Sanday Chongo Kabange | 19/06/2025

    The ACCC said NAB’s payment of the penalties is the highest amount paid for alleged contraventions of the CDR rules to date.

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    Fintech / Regtech

    Shanghai, Hong Kong Agree 38-Point Action Plan to Deepen Ties

    By Editors | 19/06/2025

    The action plan includes specific measures such as jointly developing financial products and connecting Hong Kong’s FPS with China’s IBPS.

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    Crypto / Digital Assets

    Korea FSS Considers Inspections of Korbit Over Trading Suspension

    By Thisanka Siripala | 19/06/2025

    The FSS is said to be investigating the cause of a 12-hour trading and services suspension at crypto exchange Korbit.

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    Fintech / Regtech

    “Perfect Storm” of Operational Risks Brewing: APRA

    By Thisanka Siripala | 19/06/2025

    APRA’s Chris Gower said geopolitics, cyber threats, and third-party reliance create operational resilience challenges for the financial sector.

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