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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
Japan FSA Considers Sanctioning Mizuho for System Glitches
By Ranamita Chakraborty | 15/06/2021
A new report from a third-party committee has attributed the bank’s system failures to poor corporate culture within Mizuho Financial Group.
Anti-Money Laundering
AUSTRAC Seeks Input to Develop New Reporting Systems
By Editors | 14/06/2021
Input is sought as part of a discovery phase of a four-year systems transformation programme to replace ‘AUSTRAC Online’.
Model Risk
ISDA Chief Calls for Use of Common Risk Data Reporting Standard
By Ranamita Chakraborty | 14/06/2021
CRIF will reduce the risk data reporting burden, increase the accuracy and consistency of the information reported, and allow for more automation.
Cloud & Infrastructure
UOB Pilots Digital Signing Capability via SingPass
By Editors | 14/06/2021
UOB is testing the use of GovTech’s ‘Sign with Singpass’ to allow a set of retail and corporate customers to confirm transactions and product applications.
Cloud & Infrastructure
BIS, BOE Launch Innovation Hub London Centre
By Editors | 12/06/2021
The launch is part of a plan to expand the global reach of the BIS Innovation Hub, which includes the opening of Centres in Toronto, Frankfurt, Paris and Stockholm.
Structural Regulation
FSC Korea Grants Preliminary Approval to ‘Kakao Insurance’
By Sanday Chongo Kabange | 11/06/2021
This first time the FSC has granted approval for digital insurance business to a new entrant that is not already an insurer.
Structural Regulation
BSP Issues Two New Digital Bank Licences
By Ranamita Chakraborty | 09/06/2021
The BSP has now granted three digital bank licences to date, two of which are conversions from other types of banking licences.
Cloud & Infrastructure
HKMA Announces New Fintech Development Strategy
By Editors | 09/06/2021
The “Fintech 2025” strategy seeks the comprehensive adoption of technology in the financial sector by 2025 through a focus on five key areas.
Data Privacy
European Commission Proposes European Digital Identity Regulation
By Sanday Chongo Kabange | 08/06/2021
To expedite the initiative, the European Commission has issued a recommendation for member states to establish a common toolbox by September 2022.
Cloud & Infrastructure
APRA Publishes New Guide on Using New Data Collection Platform
By Editors | 06/06/2021
The guide provides comprehensive information to assist users in accessing, navigating and using APRA Connect.
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