AI Risk & Governance

KYC & CDD

HKMA Offers Guidance on AML Controls for Remote Onboarding

By Manesh Samtani | 03/06/2020

The HKMA has published its observations of good practices used by authorised institutions to mitigate the potential risks of new technology adopted for remote onboarding.

KYC & CDD

Data, Technology Provide Remedy for Covid-related Financial Crime

By Editors | 01/06/2020

In a recent Bureau van Dijk webinar, industry experts examined how data, technology and AI can help mitigate the risk of criminals benefitting from the Covid-19 cash pump.

AI Risk & Governance

Singapore to Develop Metrics to Assess Fairness of AI-driven Decisions

By Editors | 28/05/2020

UOB and Element AI will develop fairness metrics for credit risk scoring; HSBC, IAG Firemark Labs and Gradient Institute will develop fairness metrics for customer marketing.

Structural Regulation

FSC Korea Targets ASEAN Expansion in Financial Hub Plan

By Editors | 18/05/2020

A new three-year plan to establish Korea as a financial hub involves regulatory reforms to promote innovation, enhance domestic infrastructure, and build its ASEAN presence.

Cloud & Infrastructure

MAS, SFA, AMTD Jointly Launch S$6m ‘FinTech Solidarity Grant’

By Editors | 13/05/2020

Fintechs can apply for a one-time grant to cover daily working capital expenses, or for funding to cover proofs-of-concept developed with financial institutions on APIX.

Cloud & Infrastructure

G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions

By Editors | 29/04/2020

Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.

Emerging Prudential Risks

Banking Regulation, Innovation Responsible for Shadow Bank Growth

By Editors | 29/04/2020

Regulatory burden on banks and technological improvements are likely the two most important factors behind shadow bank growth, a new paper says.

Cloud & Infrastructure

Beijing Fintech Regulation Pilot to Expand to Six Other Cities

By Editors | 29/04/2020

The expanded pilot programme will seek to guide FIs and fintech firms towards exploring the use of technology to support small firms with funding difficulties.

AI Risk & Governance

FMSB Publishes Spotlight Review on Algorithmic Trading

By Editors | 23/04/2020

The Spotlight Review highlights the importance and challenges of model risk management in areas where algorithmic trading is being deployed.