AI, Technology & Data

AI Risk & Governance

Singapore to Deepen AI Capabilities in Financial Sector

By Mark Johnston | 09/11/2021

Singapore has pledged an additional S$180mn in additional AI research funding to enhance the financial sector’s AI capabilities.

Cloud & Infrastructure

MAS: SGFinDex Extended to Include Investment Holdings Data

By Editors | 08/11/2021

Individuals can now view information on their investment holdings at SGX’s central depository as part of their consolidated financial position.

Payments & Settlements

Singapore, Philippines to Pursue Cross Border Payment Links

By Editors | 08/11/2021

MAS and the BSP have agreed to pursue real time and QR payment systems links to enable instant, seamless and low-cost cross-border payments.

Payments & Settlements

Singapore Banks to Automate GIRO Application Process

By Darien Choong | 08/11/2021

The current GIRO application process takes three to four weeks to complete. The eGIRO service will reduce turnaround time to a few minutes for consumers.

CBDCs

Multi CBDC Bridge Project Moves to Test New Use Cases

By Sanday Chongo Kabange | 07/11/2021

The mBridge project team has collaborated with private sector participants to identify 15 potential business use cases that are now being tested.

Data Privacy

Australia Open Banking Regime Reaches New Milestone

By Editors | 07/11/2021

Major banks can enable data sharing for corporate customers and business partnerships. Non-major banks face enforcement action for non-compliance with their data sharing obligations.

Data Privacy

PBOC Governor Calls for Stricter Laws to Protect Data

By Sanday Chongo Kabange | 05/11/2021

PBOC governor Yi Gang expressed concerns that some big tech firms have been collecting customer data without consent and misusing the data.

Data Privacy

China Further Tightens Rules on Cross-border Data Transfers

By Editors | 05/11/2021

Government reviews will be mandatory if data exporters handle personal data of more than 1 million residents, or the “sensitive” personal data of more than 10,000 people.

Structural Regulation

PBOC Declares Offshore Online Brokers Illegal in China

By Darien Choong | 05/11/2021

Offshore online brokerages have been offering Chinese investors trading services for US and Hong Kong securities, without first obtaining a licence in China.