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Coverage of regulatory trends, risks, and innovations in the adoption of cloud services and critical infrastructure for financial institutions.
Data Privacy
Tencent, Alibaba Refuse to Share Data to National Credit Database
By Editors | 20/09/2019
Tencent Credit and Alibaba’s Sesame Credit hold more customer data than any of their online lending peers, but they are not providing the data to the national credit database.
Cloud & Infrastructure
FSC Korea to Provide Funding Support to Fintechs
By Editors | 19/09/2019
FSC chairman Eun Sung-soo told fintech executives that a 300 billion won fund will be set up to invest in the sector and regulations will be eased to promote fintech development.
Cloud & Infrastructure
HKMA Signs Operational Agreement for BIS Innovation Hub
By Editors | 18/09/2019
The Hub will foster collaboration between central banks and scale up the application of innovative technologies globally, says the HKMA’s Norman Chan.
Structural Regulation
Hong Kong Virtual Banks Likely to Delay Launch – Report
By Editors | 18/09/2019
Hong Kong virtual banks are reportedly delaying plans to start promotional campaigns partly in response to city-wide protests, among other reasons.
Cybersecurity
Korean Banks Boost Spending of Cybersecurity, IT: BOK
By Editors | 17/09/2019
Banks are increasingly relying on outsourcing for cloud computing, which may become a potential vulnerability if adequate precautions are not in place.
Cloud & Infrastructure
Australia Establishes Senate Committee on Fintech, Regtech
By Editors | 16/09/2019
The committee will inquire into the opportunities of fintech and regtech, and benchmark Australia’s environment for innovation against comparable global regimes.
Cloud & Infrastructure
Financial Institutions Must Adapt and Innovate or Be Left Behind
By Greg Watson | 13/09/2019
Outdated systems are preventing one in four Asia Pacific banks from investing in disruptive technologies, says Greg Watson, citing a recent Fenergo survey.
Cloud & Infrastructure
Half of IT Budgets to Go to Cloud Services in 2020: Refinitiv
By Editors | 10/09/2019
Financial firms say public cloud projects are delivering better-than-expected cost reductions and enabling innovation, but data privacy and regulatory concerns are slowing adoption.
Payments & Settlements
Singapore Streamlines Payment Firms’ Access to Legal Services
By Editors | 09/09/2019
The initiative will help connect the payments industry with specialist law firms through a streamlined process to help them comply with the new Payment Services Act.
Trading & Investment
HKEX Recovers from Derivatives Market Outage
By Editors | 06/09/2019
Derivatives trading was suspended on Thursday due to software issues in HKEX’s vendor supplied trading system, which “have now been isolated”.
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