AI, Technology & Data

Structural Regulation

Ping An OneConnect Bank to Pilot Virtual Banking Services

By Editors | 26/06/2020

Ping An OneConnect Bank is inviting 200 SMEs and 2,000 retail customers to pilot test its virtual banking services in the HKMA’s sandbox.

AI Risk & Governance

IOSCO Drafts Guidance on Supervising AI/ML in Financial Markets

By Editors | 25/06/2020

IOSCO proposes six measures to assist members in creating appropriate regulatory frameworks to supervise market intermediaries and asset managers that use AI and ML.

Trading & Investment

FMSB Issues Statement of Good Practice on Algo Trading

By Editors | 25/06/2020

The FICC Markets Standards Board sets out 10 Good Practice Statements for market participants and venue operators engaged in algorithmic trading in a new transparency draft.

KYC & CDD

HSBC Offers Remote Account Opening to Hong Kong SMEs

By Editors | 24/06/2020

Recent initiatives by HSBC to shift to lower-cost, digital-first services are largely seen as a response to new competition from virtual banks in Hong Kong.

AI Risk & Governance

BOK to Boost AI Capabilities Through Kakao Partnership

By Editors | 23/06/2020

Kakao Enterprise’s AI technology will initially be used for task support such as taking meeting minutes, before the partnership later expands to support BOK policy-making.

Cloud & Infrastructure

APAC Banks Will Come Out Stronger Post Pandemic

By Greg Watson | 23/06/2020

Covid-19 has kickstarted a rush to digitisation. Changes not expected for another 5-10 years will now be seen over the next 18 months, says Fenergo’s Greg Watson.

AI Risk & Governance

Singapore: AMTD, Xiaomi Finance Launch Digital Finance Programme

By Editors | 22/06/2020

AMTD and Xiaomi Finance will provide S$5mn to support to enable SMU and NUS-ISS to build curriculum and teaching resources for a digital finance leadership programme.

Anti-Money Laundering

European Fintechs Launch New Industry Association

By Editors | 19/06/2020

The European FinTech Association will seek to remove cross-border barriers in financial services, including to streamline fragmented AML rules and address IBAN discrimination.

Cybersecurity

HKMA Publishes Banking Sector Talent Gap Findings

By Editors | 18/06/2020

Key skill gaps in the banking workforce were identified in areas relating to technology and data, cybersecurity, core banking knowledge, regulation and compliance, and climate risk management.