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Coverage of regulatory trends, risks, and innovations in the adoption of cloud services and critical infrastructure for financial institutions.
Conduct, Culture & Accountability
Mizuho Set to Formalise New Leadership to Address System Issues
By Editors | 14/01/2022
On Tuesday, Mizuho suffered its 10th system failure since February 2021, with business customers unable to access online banking for more than 3 hours that morning.
Data Privacy
South Korea to Designate More ‘Data Specialising Institutions’
By Sanday Chongo Kabange | 13/01/2022
Data specialising institutions are allowed to converge anonymised and pseudonymised data originating from different businesses for analytics purposes.
Trading & Investment
TAIFEX to Add More Mini Contracts, Night Products in 2022
By Editors | 13/01/2022
TAIFEX will also replace its older trading system equipment by Q4 2022 to improve trading efficiency, market capacity and service delivery.
Data Privacy
FSC to Enable Greater Access to Data Convergence Services
By Sanday Chongo Kabange | 10/01/2022
Rule changes will enable smaller firms with no data samples of their own to access anonymised data originating from other businesses.
Cloud & Infrastructure
RBI Establishes Dedicated Fintech Unit to Promote Innovation
By Editors | 10/01/2022
The new department will seek to promote innovation in the financial sector including by exploring policy interventions by the RBI.
Operational Risk
CBIRC Issues New Guidelines on Managing Outsourcing Risk
By Manesh Samtani | 10/01/2022
The guidelines emphasise the need for appropriate governance, differentiated controls based on the importance of outsourced functions, and awareness of concentration risk.
Cloud & Infrastructure
PBOC Outlines 2022-2025 Fintech Development Plan
By Editors | 07/01/2022
The plan includes measures to strengthen fintech governance, enhance data capabilities, and establish a new ‘green’ data centre.
Structural Regulation
BNM Proposes New Licensing Framework For Digital Insurers
By Sanday Chongo Kabange | 05/01/2022
Digital insurers and takaful operators should have a minimum paid-up capital of MYR 40 million during the foundational phase.
Payments & Settlements
RBI Issues New Framework on Offline Digital Payments
By Mark Johnston | 05/01/2022
Offline digital payments are expected to benefit areas with weak internet or telecom connectivity, particularly semi-urban and rural areas.
Data Privacy
South Korean Financial Institutions Launch ‘MyData’ Services
By Sanday Chongo Kabange | 05/01/2022
On Wednesday, 33 firms started offering MyData services, enabling consumers to centralise management of their data from different institutions.
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