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Coverage of regulatory trends, risks, and innovations in the adoption of cloud services and critical infrastructure for financial institutions.
Emerging Prudential Risks
Three Emerging Risk Issues for Banks in Hong Kong
By Simon Topping | 09/01/2020
There are three key areas where Hong Kong regulators are expected to turn up the heat in 2020, says KPMG’s Simon Topping.
Structural Regulation
Philippine Lawmaker Proposes Regulatory Framework for Virtual Banks
By Editors | 08/01/2020
The bill proposes that the BSP grant five virtual bank licences every year for at least five years, and to allow both financial and non-financial firms to apply.
Payments & Settlements
India’s NPCI Unveils DLT Based Platform to Further Streamline Payments
By Editors | 07/01/2020
The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.
Structural Regulation
UPDATED – 21 Digital Bank Licence Applications Received: MAS
By Editors | 07/01/2020
MAS will announce the successful applicants in June 2020. The new digital bank licencees will be expected to commence business by mid-2021.
Trading & Investment
HKEX Chief Lays Out Vision for Decade Ahead
By Editors | 07/01/2020
Charles Li says HKEX will leverage the disruptive power of technology to enhance connectivity between China and the rest of the world in stock, bond and commodity markets.
Structural Regulation
Malaysia Issues Draft Licensing Framework for Digital Banks
By Manesh Samtani | 28/12/2019
Foreign financial institutions will be allowed to hold a majority stake, but preference will be given to applications where Malaysian nationals own the controlling equity interest.
Cloud & Infrastructure
ASIC Publishes Findings from 2019 Regtech Initiatives
By Editors | 25/12/2019
Participants said the exponential growth in data volume means the financial services industry must consider implementing regtech as an ‘imperative’ to undertake risk management and compliance functions.
Structural Regulation
Indonesia Integrates Nine Bank Reports into Single Mechanism
By Editors | 20/12/2019
The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.
Payments & Settlements
South Korea Formally Launches Open Banking Service
By Editors | 20/12/2019
Open banking will serve as a catalyst for various innovations and bring tectonic shifts in the financial industry, FSC chairman Eun Sung-soo said at the launch event.
Payments & Settlements
Google Recommends India UPI Model for New US ‘FedNow’ Service
By Editors | 19/12/2019
UPI adoption has grown from 100,000 to 1.15 billion monthly transactions in four years, with 140 member banks using its rails to enable payments for customers.
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