AI, Technology & Data

AI Risk & Governance

Beijing to Pilot Fintech Regulatory Framework

By Editors | 09/12/2019

The pilot will allow the PBOC to explore regulatory tools that it can use as part of a nationwide supervisory framework for fintech.

Credit Risk

Australia Reintroduces Mandatory Comprehensive Credit Reporting Bill

By Editors | 09/12/2019

The revised Bill introduces a new category of credit reporting information, enabling hardship information to be reported alongside repayment history.

Data Privacy

China to Increase Oversight Over Banking & Finance Mobile Apps

By Editors | 06/12/2019

The National Internet Finance Association has launched a 23-firm pilot scheme to address concerns around risks to user privacy from financial institutions’ mobile apps.

Data Privacy

India’s Cabinet Approves Personal Data Protection Bill

By Editors | 06/12/2019

Under the bill, major violations of data privacy norms can be penalised with jail terms, or monetary fines up to 150 million rupees or 4% of a company’s worldwide turnover, whichever is higher.

KYC & CDD

Sri Lanka to Develop Shared KYC Facility Using Blockchain

By Editors | 06/12/2019

The CBSL is inviting software development companies to apply (by 31 December) to help in the development of a proof-of-concept of a shared KYC facility.

Data Privacy

Korea Announces New Measures to Boost Fintech Development

By Editors | 05/12/2019

Among other measures, the FSC said that it would promote the use of regulatory sandboxes to produce at least 100 cases of innovative financial services by March 2020.

Structural Regulation

Korea FSS Pledges to Improve Environment for Foreign FIs

By Editors | 03/12/2019

At a meeting with bank and asset manager heads, the FSS promised to lower regulatory and operational barriers for foreign firms looking to enter Korea’s financial markets.

Liquidity Risk

MAS Highlights FX Liquidity, Cyber Risk in Latest FSR

By Manesh Samtani | 02/12/2019

In its latest Financial Stability Review, the MAS highlights pressures on foreign currency liquidity and the potential impacts of a cyber attack on Singapore banks and their service providers.

Data Privacy

China Eyes Stronger Data Governance Standards for Financial Sector

By Editors | 28/11/2019

The China Banking Association is working to develop technology standards to facilitate data analysis, while also ensuring adequate security and data quality management.