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Reporting on regulatory requirements, enforcement actions, and best practices to safeguard financial institutions and markets against cyber threats, data breaches, and vulnerabilities through proactive measures.
KYC & CDD
Philippines Begins Roll-out of New National ID System
By Editors | 15/10/2020
PhilSys will mean wider inclusion in the financial ecosystem for the unbanked, allowing cash aid, credit and other welfare spending to reach them faster.
Emerging Prudential Risks
FSB Publishes Letter to G20 Ahead of Virtual Meeting
By Manesh Samtani | 14/10/2020
The letter describes the FSB’s work to address issues of financial innovation and technology, promote a resilient and integrated global financial system, and address market fragmentation.
AI Risk & Governance
SupTech Increasingly a Strategic Priority for Authorities: FSB
By Editors | 11/10/2020
The majority of authorities surveyed by the FSB had a SupTech, innovation or data strategy in place. SupTech is most commonly used in regulatory reporting and data management.
AI Risk & Governance
UIDAI, NPCI Testing Face Authentication with Banks
By Editors | 08/10/2020
NPCI has commenced phase one tests of using facial authentication in non-financial transactions with ICICI Bank, Yes Bank, RBL Bank and Fino Payments Bank.
Cybersecurity
Philippine DOF Push For Joint Cyber Defence Strategy
By Sanday Chongo Kabange | 08/10/2020
State-run financial institutions, pension funds, insurance firms and other government agencies are instructed to establish shared cyber defence strategies.
Cloud & Infrastructure
Australia to Allocate A$800m to Digital Initiatives in Budget
By Editors | 02/10/2020
The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.
Payments & Settlements
PayNow Banks Raise Default Limit for Ad-hoc Transactions
By Editors | 28/09/2020
Customers can enjoy the convenience of making higher value transfers without adding the recipient as a payee, ABS said in a statement.
Cryptocurrency
EU Unveils Digital Finance Strategy, Crypto-asset Framework
By Manesh Samtani | 27/09/2020
The package consists of a digital finance strategy, a retail payments strategy, and legislative proposals for regulating the crypto-asset sector.
Cybersecurity
SFC Identifies Cybersecurity Deficiencies at Internet Brokers
By Editors | 23/09/2020
The SFC found deficiencies relating to two-factor authentication, data encryption, session timeout, monitoring and surveillance, among other areas.
Clearing & Post-Trade
Riding the Tech Wave in a Volatile Derivatives Market
By John Omahen | 23/09/2020
A surge in trading volumes has highlighted the need for brokerage firms to re-engineer their businesses for the future, writes John Omahen at FIS.
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