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Cloud & Infrastructure
HK Banks See Fintech More As Opportunity Than Threat – Study
By Editors | 20/05/2020
Over the next ten years, banks expect to continue to play a key role in fintech innovation and adoption, and are confident they will not be displaced by new competitors.
Structural Regulation
FSC Korea Targets ASEAN Expansion in Financial Hub Plan
By Editors | 18/05/2020
A new three-year plan to establish Korea as a financial hub involves regulatory reforms to promote innovation, enhance domestic infrastructure, and build its ASEAN presence.
Anti-Money Laundering
FSI Takes Stock of Official Sector Response to Rising Financial Crime
By Manesh Samtani | 17/05/2020
There are trade-offs between expecting FIs to enhance or adjust their cyber resilience and AML frameworks, versus avoiding excessive burdens that could hinder the delivery of key financial services.
Data Privacy
FSC Korea to Assess Demand for New MyData Licences
By Editors | 14/05/2020
Financial firms and fintechs approved by the FSC will be able to make financial product recommendations and offer financial advisory services on the new MyData platform.
Cloud & Infrastructure
MAS, SFA, AMTD Jointly Launch S$6m ‘FinTech Solidarity Grant’
By Editors | 13/05/2020
Fintechs can apply for a one-time grant to cover daily working capital expenses, or for funding to cover proofs-of-concept developed with financial institutions on APIX.
Data Privacy
CBIRC Fines Eight Banks Over Poor Quality of Reported Data
By Editors | 13/05/2020
The banks were each fined between 1.6mn and 2.7mn yuan for underreporting information on certain transactions, wealth management products, and credit asset transfers.
Data Privacy
CBIRC Probes China CITIC Bank Over Leaked Personal Data
By Editors | 13/05/2020
Last week, a Chinese stand-up comedian accused the bank of disclosing his personal transaction information to his employer without consent.
Cybersecurity
FS-ISAC Launches Cyber Threat Intelligence Exchange Platform
By Editors | 13/05/2020
The launch comes as cyber criminals look to leverage the uncertainty and panic around Covid-19 for financial fraud, scams, and other malicious activity.
Data Privacy
FMSB Review Highlights Data Risks in Wholesale FICC Markets
By Editors | 12/05/2020
The paper highlights the benefits of moving to a more centralised data strategy, including cost reduction, risk reduction, and the ability to better use data to drive value.
Data Privacy
S. Korea Launches Financial Data Exchange Platform
By Editors | 11/05/2020
The exchange will serve buyers and sellers of anonymised financial data, facilitating the use of analytics to develop new financial products and services, while also ensuring data security.
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