AI, Technology & Data

Cloud & Infrastructure

Bill Passes to Enhance ASIC’s Fintech Regulatory Sandbox

By Editors | 12/02/2020

Under the amendments, firms will be able to test a wider range of new financial and credit products and services without a licence from ASIC, for a longer time.

Data Privacy

Hong Kong Considers Reforms to Data Privacy Laws

By Editors | 12/02/2020

Key recommendations include higher penalties for breaches, mandatory data breach notifications, and a requirement for clear personal data retention policies.

KYC & CDD

Technology Building Blocks that Enable Real-Time KYC

By Greg Watson | 11/02/2020

Every financial institution has a digital transformation agenda. But what does that really mean? In this post, we look at the why, and more importantly, the how of pursuing a Digital KYC model.

Sustainable Finance

Hedge Funds Face High Expectations on ESG Adoption

By Editors | 11/02/2020

ESG and sustainability considerations have become a ‘must-have’ in the hedge fund industry, says a new report from KPMG, AIMA, CAIA and CREATE-Research.

AI Risk & Governance

AI Expected to Become Key Business Driver in Two Years – Survey

By Editors | 11/02/2020

The Cambridge Centre for Alternative Finance and World Economic Forum, with support from EY and Invesco, shed light on the evolving landscape of AI-enabled financial services.

Payments & Settlements

DBS Completes First Fully Digital Trade Financing Settlement on NTP

By Editors | 10/02/2020

DBS was able to cut the trade financing processing time from about a week to under one working day, yielding greater operational efficiencies for trade partners.

Operational Risk

MAS Issues Advisory to FIs Amid Higher Coronavirus Alert Level

By Editors | 10/02/2020

MAS asks financial institutions to ensure business continuity and warns that cyber threat actors are taking advantage of the novel coronavirus situation to conduct email scams, phishing and ransomware attacks.

KYC & CDD

BOT Launches Digital Account Opening Tests at Six Banks

By Editors | 07/02/2020

Six banks will open online deposit accounts digitally, using facial recognition to verify customer identities against information held in the new National Digital ID platform.

Data Privacy

US, Singapore Jointly Declare Opposition to Data Localisation

By Editors | 06/02/2020

The US and Singapore support allowing financial service suppliers to transfer data across borders and oppose generally applicable data localisation requirements.