AI, Technology & Data

Data Privacy

HKMA to Launch Bank Account Data Sharing Pilot by Year-End

By Editors | 01/11/2023

The first phase of the IADS initiative will be for corporate customers. The HKMA hopes to progressively extend it to retail bank accounts from June 2024 onwards.

CBDCs

BIS Innovation Hub Releases Update Report for Project mBridge

By Manesh Samtani | 01/11/2023

The update reveals a list of 25 observing members, and that the mBridge platform offers APIs based on ISO 20022 and uses LEIs for participant identification.

Payments & Settlements

MAS to Launch POC to Enhance Interoperability for QR Payments

By Editors | 01/11/2023

The POC will explore the feasibility of enabling merchants to accept QR payments from a variety of local and international payment schemes by signing up with a single FI.

Cloud & Infrastructure

RBI Allows Five MSME Lending Products to Exit Sandbox

By Ajoy K Das | 31/10/2023

Regulated entities are allowed to adopt the MSME lending products. The RBI also opened applications for its fifth sandbox cohort, which is “theme neutral”.

AI Risk & Governance

Citi to Provide GenAI Tools to 40,000 Coders Across the Bank

By Editors | 31/10/2023

Citi used generative AI to analyse 1,089 pages of new capital rules proposed by US regulators in July. Over 350 other use cases have been proposed.

ESG Data

Integration of AI, Fintech, ESG Gets Underway 

By Jill Wong | 31/10/2023

The financial industry is accelerating its interest around three main themes – fintech, ESG and AI.

AI Risk & Governance

White House Issues Executive Order to Regulate AI

By Sanday Chongo Kabange | 31/10/2023

The executive order sets out new standards for AI safety and requirements for developers and users of AI systems.

AI Risk & Governance

G7 Nations Agree on Code of Conduct for AI Systems

By Editors | 31/10/2023

The code of conduct for AI developers seeks to promote the development of “secure and trustworthy” AI systems internationally.

Data Privacy

RBI Amends Account Aggregator Framework to Promote Reciprocal Data Sharing

By Ajoy K Das | 31/10/2023

The RBI said some NBFCs enrolled only to access financial information from other firms without sharing their own financial information.