FINTECH / REGTECH

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    Fintech / Regtech

    Australia Passes Law Introducing New Rules for BNPL Services

    By Thisanka Siripala | 02/12/2024

    BNPL providers must adhere to requirements under the the National Consumer Credit Protection Act. ASIC will be tasked with regulating the sector.

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    Fintech / Regtech

    FSC Korea Adjusts Criteria for Authorising Internet-only Banks

    By Manesh Samtani | 02/12/2024

    The FSC plans to add a statutory condition under the Banking Act that will allow it to suspend an internet-only bank’s operations if it cannot execute its business plan.

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    Sanctions

    Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report

    By Editors | 02/12/2024

    The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.

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    Fintech / Regtech

    UK Launches AI Security Research Lab to Defend Against Cyber Threats

    By Thisanka Siripala | 02/12/2024

    The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.

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    AML / KYC

    Central Banks Offers Legal and System Design Lessons for Retail CBDC

    By Manesh Samtani | 01/12/2024

    Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.

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    Crypto / Digital Assets

    HKMA Announces Launch of Digital Bond Grant Scheme

    By Editors | 30/11/2024

    The scheme offers grants of up to HK$2.5mn for each eligible digital bond issuance to promote bond tokenisation in Hong Kong.

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    Fintech / Regtech

    Japan Report Calls for Urgent Action to Address Quantum Risks

    By Thisanka Siripala | 30/11/2024

    Japanese FIs should have quantum-resistant cryptographic algorithms within high-priority systems ready for use by the mid-2030s.

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    Fintech / Regtech

    China Issues Action Plan for Further Developing Digital Finance

    By Editors | 30/11/2024

    FIs are directed to designate a leading department for digital transformation and improve the quality and efficiency of digital financial services.

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    Fintech / Regtech

    HKUST Launches New GenAI Platform for Financial Sector

    By Sanday Chongo Kabange | 29/11/2024

    HKUST’s new InvestLM, designed to support the financial services industry, is available through the HKMA’s GenAI Sandbox.

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    Fintech / Regtech

    New Association Launches in Hong Kong to Advance AI Adoption

    By Sanday Chongo Kabange | 28/11/2024

    The new association seeks to advance the development, adoption, commercialisation and use of AI across Hong Kong.

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