AI, Technology & Data

Data Privacy

Virtual Banking and Consent-based Data Governance

By Manesh Samtani | 27/01/2022

New BIS paper says consent-based data governance systems with low transaction costs are key to promoting the development of virtual banking worldwide.

Cloud & Infrastructure

China Launches Data Platform for Wealth Management Sector

By Sanday Chongo Kabange | 27/01/2022

The platform is expected to help wealth management companies expand and enhance their product sales channels – especially the WMC units of smaller-scale banks.

Data Privacy

Open Data: Thailand Launches Digital Bank Statement Service

By Ranamita Chakraborty | 26/01/2022

The ‘dStatement’ service enables consumers to send their bank statement data directly from one bank to another via their mobile banking apps.

CBDCs

Bank of Korea to Advance CBDC Testing to Second Phase

By Editors | 26/01/2022

In phase two, BOK will test offline payments, remittances to accounts outside Korea, and the use of its CBDC as payment for NFTs.

Structural Regulation

China Tightens Rules on Internet Platform Companies

By Sanday Chongo Kabange | 26/01/2022

The rules tighten restrictions on internet platform companies investing in financial services firms and ask them to implement capital and leverage ratio requirements.

Cybersecurity

HKMA Issues Regtech Guide on Managing Cyber Risk

By Manesh Samtani | 26/01/2022

The guide will help banks apply Regtech solutions for cyber risk management, including to address risks from container technology and remote working.

Data Privacy

China Issues Guidelines of Identifying Critical Data

By Darien Choong | 25/01/2022

The guidelines support the protection of critical data, while also serving as a reference for companies and authorities to classify and describe their data.

CBDCs

BIS Innovation Hub to Expand Work Programme in 2022

By Editors | 25/01/2022

The BIS Innovation Hub will launch new projects into CBDCs, payments systems, DeFi, green finance, regtech, suptech and cybersecurity.

Cloud & Infrastructure

BNM Unveils Five Year Blueprint to Develop Financial Sector

By Manesh Samtani | 25/01/2022

The blueprint contains plans to advance financial sector digitalisation, develop an open data ecosystem, and improve efficiency in cross-border payments.