Cloud & Infrastructure

Structural Regulation

Indonesia to Release New Fintech Rules in August

By Garima Chitkara | 18/07/2018

Fintech firms will be required to register with the OJK and periodically submit financial reports; new rules will cover P2P lending, insurance technology and equity crowdfunding.

Clearing & Post-Trade

Shanghai Bourse Studies Use of DLT for Securities Markets

By Garima Chitkara | 16/07/2018

In a research paper, the SSE envisions DLT efficiency in post-trade settlement and securities issuance and trading, calling on regulators to “adapt to evolving technology.”

Cloud & Infrastructure

S. Korea to Ease Rules on Cloud Storage of Customer Data

By Manesh Samtani | 16/07/2018

FSC is expanding the types of information financial companies can store on cloud computing systems to include personal credit and identification information.

Cloud & Infrastructure

Off-boarding Tail Clients a Short-Sighted Approach – Report

By Manesh Samtani | 09/07/2018

Report by Quinlan & Associates suggests potential for digital transformation to deliver 10-15% boost in top-line revenues and 30% reduction in operating costs, with tail clients a key opportunity.

Data Privacy

AxiomSL Announces Completion of Open Taxonomy to Streamline MAS 610 Compliance

By Manesh Samtani | 09/07/2018

Industry initiative has condensed over 300,000 data points required by MAS 610 into 1,000 reuseable business concepts, simplifying and streamlining compliance with the reporting mandate.

KYC & CDD

Hong Kong FSDC Releases Digital ID and KYC Utility Report

By Garima Chitkara | 25/06/2018

The FSDC has laid out four key recommendations for creating a digital identity and e-KYC based infrastructure for Hong Kong.

Structural Regulation

HK Virtual Bank Licence Offers Nothing New for Local Market

By Peter Guy | 20/06/2018

The HKMA and its new regulations fail to recognise that virtual banking has long existed. Redundant and irrelevant rules only hold back fintech development in Hong Kong.

Structural Regulation

MAS 610 a Top Concern for Singapore Banks in 2019 – Report

By Manesh Samtani | 15/06/2018

High granularity data for new reporting regime requires reporting of approx. 300,000 data elements, the top concern for Singapore banks next year, according to Wolters Kluwer survey.

Cloud & Infrastructure

S. Korean Banks to Introduce Blockchain-based User Verification

By Manesh Samtani | 15/06/2018

Korea Federation of Banks to introduce BankSign system next month; will significantly enhance and simplify user verification process for online and mobile banking through blockchain technology.