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Fintech / Regtech
Model Risk Management at Japan Banks Gaining Sophistication: FSA
By Manesh Samtani | 15/12/2024
The FSA says FIs should continue refining their model risk management frameworks, prioritising AI-specific models.
Fintech / Regtech
FSC Korea to Build Platform to Enable FIs to Use Open Source AI
By Manesh Samtani | 13/12/2024
The FSC said it will build a platform that provides open source AI models and data with performance and safety suitable for the financial sector.
Crypto / Digital Assets
ICMA Publishes Guidance on DLT Based Debt Securities
By Editors | 13/12/2024
The guide highlights considerations for the end-to-end lifecycle of DLT-based debt securities, intended to promote wider adoption of tokenised assets.
AML / KYC
Google and Swift Collaborate to Combat Payments Fraud
By Thisanka Siripala | 13/12/2024
The initiative follows a successful pilot with financial institutions across Europe, North America, Asia and the Middle East.
Market Infrastructure
FSB Finalises Recommendations on Cross-border Payments
By Manesh Samtani | 13/12/2024
The recommendations aim to promote global alignment in legal, regulatory and data frameworks relevant to cross-border payments.
Fintech / Regtech
New Zealand FMA to Launch Regulatory Sandbox Pilot in 2025
By Editors | 12/12/2024
The FMA is inviting expressions of interest from firms interested in joining the sandbox pilot, which will run from January to July 2025.
AML / KYC
AUSTRAC Gifts TAIPAN Technology System to PNG’s FIU
By Thisanka Siripala | 12/12/2024
AUSTRAC has now delivered TAIPAN to ten FIUs across the Pacific, enabling them to identify suspicious financial patterns indicative of illicit activity.
Fintech / Regtech
RBI to Form Dedicated Committee to Develop Framework for AI
By Editors | 11/12/2024
The committee of experts shall recommend a “robust, comprehensive, and adaptable AI framework” for the financial sector, the RBI said.
Enforcement
US Regulator Places Google Payment Corp Under Supervision
By Thisanka Siripala | 11/12/2024
Google Payment Corp says the consumer complaints cited by the CFPB are based on a discontinued service that no longer poses a risk.
Capital / Liquidity
RBNZ Publishes Results of ‘Digital Cash’ Consultation
By Sanday Chongo Kabange | 11/12/2024
If ‘digital cash’ is introduced, the earliest it would be is 2030. The RBNZ confirmed that issuing physical cash would remain a priority.
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