AI Risk & Governance

Cloud & Infrastructure

HKMA Asks Banks to Participate in KPMG Regtech Stocktake

By Editors | 27/07/2020

HKMA has appointed KPMG as an external consultant to conduct surveys and interviews with banks and technology firms on Regtech development in Hong Kong.

KYC & CDD

BOT Green-lights Use of Facial Recognition Tech at Five Banks

By Editors | 26/07/2020

BOT has issued new guidelines on the use of biometric technology in financial services, and granted approval to five banks to use facial recognition in account opening.

AI Risk & Governance

FSC Korea Kicks Off Working Group on Artificial Intelligence

By Editors | 16/07/2020

The working group will seek to promote the use of artificial intelligence in financial services as part of the government’s ‘New Deal’ policy initiative.

Data Privacy

Denmark Introduces Mandatory Data Ethics Disclosure Rule

By Editors | 08/07/2020

From 1 January 2021, large and listed Danish companies will disclose information about their data ethics policy, AI tools and algorithms in annual reports.

Anti-Money Laundering

S. Korea Uses AI, Big Data Analytics to Detect Tax Evasion

By Editors | 07/07/2020

A new AI-based big data analytics system will be used by the National Tax Service to detect cases of tax evasion using borrowed-name accounts.

Cloud & Infrastructure

South Korea Enhances Credit Database in Open Data Push

By Editors | 03/07/2020

Korea’s CreDB system will be enhanced with additional datasets and increased server capacity to support deep learning and other types of AI-based data analysis.

Trading & Investment

Virtual Banks Could Shake Up Funds Industry – Report

By Editors | 03/07/2020

Successful virtual banks are likely to branch out into wealth management services, robo-advisory and fund distribution, says a new Calastone paper.

Cloud & Infrastructure

BIS Innovation Hub Can Draw Lessons from GFIN

By Manesh Samtani | 03/07/2020

As the BIS Innovation Hub widens its reach, success will rely on its ability to cultivate a supportive ecosystem which includes financial institutions and innovators alike.

Conduct, Culture & Accountability

The New Normal: Conduct Risk & Personal Accountability

By Stephen Scott | 01/07/2020

Increasingly, leaders along all Three Lines of Defence are being held personally accountable for misconduct that takes place on their watch, says Stephen Scott at Starling.