AI, Technology & Data

Structural Regulation

Indonesia Integrates Nine Bank Reports into Single Mechanism

By Editors | 20/12/2019

The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.

Data Privacy

ACCC Delays Open Banking Launch for More Testing

By Editors | 20/12/2019

Under the new timeline, consumers can direct the major banks to share credit and debit card, deposit and transaction data from July 2020, and mortgage and personal loan data from November 2020.

Anti-Money Laundering

Regulation Asia: Top Ten News Stories for 2019

By Editors | 20/12/2019

This list presents the most-read new stories published by Regulation Asia in 2019, based on aggregated user traffic analytics.

Anti-Money Laundering

Regulation Asia: Top Ten Contributed Articles for 2019

By Editors | 20/12/2019

This list presents the most-read contributed articles published by Regulation Asia in 2019, based on aggregated user traffic analytics.

Payments & Settlements

South Korea Formally Launches Open Banking Service

By Editors | 20/12/2019

Open banking will serve as a catalyst for various innovations and bring tectonic shifts in the financial industry, FSC chairman Eun Sung-soo said at the launch event.

Payments & Settlements

India Shows How Policy Can Solve Financial Inclusion: BIS Paper

By Editors | 19/12/2019

The paper highlights India’s Aadhaar programme, which promotes financial inclusion, offers more robust AML/CFT checks, and has led to the creation of several innovative and interoperable digital platforms.

Cybersecurity

Cyber Resilience Practices at Financial Firms Improving: ASIC

By Editors | 19/12/2019

Improvements have been seen at larger firms in response planning, mitigation action planning, and to ensure events that occur are contained, do not propagate, and neutralised as quickly as possible.

Payments & Settlements

Google Recommends India UPI Model for New US ‘FedNow’ Service

By Editors | 19/12/2019

UPI adoption has grown from 100,000 to 1.15 billion monthly transactions in four years, with 140 member banks using its rails to enable payments for customers.

KYC & CDD

BNM Issues Draft Rules on Financial Sector Use of Electronic KYC

By Editors | 17/12/2019

BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.