Vice chairman Kim So-young said the FSC will remove barriers that prevent financial services firms from making use of big data and AI technology effectively.
MAS conducted thematic inspections on the operational risk management standards and practices of selected banks, with a focus on third party risk management.
GoTyme Bank, a joint venture of digital banking group Tyme and members of the Gokongwei Group of companies, was awarded a Certificate of Authority.
The FSS said KakaoBank launched the new remittance service without proper testing, and provided prohibited loans to major shareholders.
Bitcoin and stablecoins are "unlikely" to be the "holy grail" of cross-border payments. Interlinked domestic payment systems and interoperable CBDCs show the most promise.
New paper covers 15 different private-private financial information sharing platforms across the US, UK, Singapore, the Netherlands, Switzerland, Estonia and Australia.
The eMPF project presents an opportunity to transform all aspects of today’s compartmentalized and fragmented approaches to MPF administration, says Chris Pascoe.
CPMI received "numerous promising proposals" for new solutions that may be capable of processing FX transactions that currently settle on a non-PvP basis.
The regulatory framework includes a set of principles for capital market entities to adopt in their use of AI/machine learning.
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