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AI Risk & Governance
BSP Takes Consumer Complaints Chatbot Live
By Sanday Chongo Kabange | 20/08/2020
The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.
Credit Risk
The Case for a Central Lending Platform in Singapore
By Irene Liu | 20/08/2020
Not enough SMEs are taking advantage of government supported loan programmes, in part due to the onerous processes involved in accessing them, say PwC’s Irene Liu and Shierly Mondianti.
Cybersecurity
India Planning Specialised Cyber Agency for Financial Sector
By Editors | 19/08/2020
The specialised agency was proposed in 2017 by then finance minister Arun Jaitley. On Saturday, Prime Minister Narendra Modi said India will soon have a new cyber security policy.
Cloud & Infrastructure
CSRC Drafts Rules on Third-party Platforms Use by Securities Firms
By Lucy Zhang | 19/08/2020
The rules require brokerage firms to guarantee technical and data security when using third-party platforms to conduct securities business activities.
Anti-Money Laundering
Risk and Reward: AI Enables Active Financial Crime Risk Assessment
By Daniel Banes | 18/08/2020
Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.
Sustainable Finance
BOT, UK Government Agree to Cooperate in Financial Services
By Editors | 16/08/2020
The MoU will see increased cooperation in areas such as accounting standards, governance and transparency, fintech development, and sustainable finance.
AI Risk & Governance
MAS Pledges SG$250m to Boost Financial Sector Innovation
By Editors | 13/08/2020
Maximum funding under the POC Grant and AIDA Grant will be increased. Support for large-scale innovation projects and staff training will also increase.
Anti-Money Laundering
Wolfsberg Group Outlines Steps to AML/CTF Effectiveness
By Manesh Samtani | 13/08/2020
FIs should consider adopting technology such as AI and machine learning more widely. The Wolfsberg Group “strongly encourages” participation in PPPs.
Conduct, Culture & Accountability
MAS Official Warns of Financial Sector Job Losses in H2
By Editors | 13/08/2020
Supporting the local workforce in the financial sector during the crisis is a priority for MAS, according to deputy managing director Jacqueline Loh.
Cloud & Infrastructure
EBA Launches Industry Survey on RegTech Adoption
By Editors | 12/08/2020
The EBA is looking to identify the main barriers and risks of using RegTech and potential ways to support its uptake across the EU.
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