AI, Technology & Data

AI Risk & Governance

Banks Not Using Latest RegTech Solutions Must Explain Why – ASIC

By Editors | 29/03/2019

ASIC reportedly plans to force banks to explain why they aren’t using the latest technology to improve regulatory compliance, including systems offered by regtech startups.

Structural Regulation

HKMA Approves Three Virtual Banks, Five More Being Considered

By Editors | 27/03/2019

The three newly licenced virtual banks are joint ventures involving BOCHK, JD Digits, Jardines, Standard Chartered, HKT, PCCW, Ctrip, ZhongAn Online and Sinolink.

Cybersecurity

APRA Proposes Updated Guidance on Information Security

By Editors | 27/03/2019

APRA is seeking feedback on updated guidance which will help the industry embed the new prudential standard on information security in July.

Cloud & Infrastructure

Singapore, Australia Fintech Bodies Agree to Collaborate

By Editors | 26/03/2019

FinTech Australia and the Singapore Fintech Association have agreed to collaborate on fintech initiatives across ASEAN and Australia. The MoU was signed at Money20/20 in Singapore last week.

Cloud & Infrastructure

RBI to Issue Regulatory Sandbox Guidelines Within 2 Months

By Editors | 26/03/2019

The RBI will set up a regulatory sandbox and create an ecosystem which promotes collaboration in fintech, central bank governor Shaktikanta Das said on Monday.

Data Privacy

Hong Kong Consumers Willing to Share Personal Data – Accenture

By Editors | 25/03/2019

Although 60% of Hong Kong consumers say they are very cautious about data privacy, more than half are willing to share significant personal data for lower pricing on financial services.

Data Privacy

Data Localisation Policies Impair Provision of Financial Services – GFMA

By Manesh Samtani | 25/03/2019

The GFMA urges policymakers to develop alternatives to data localisation policies that ensure data protection while still supporting the financial services sector and the end-users it serves.

Cloud & Infrastructure

GFMA, PwC Identify Technology Challenges for Investment Banks

By Manesh Samtani | 22/03/2019

A new report from the GFMA and PwC says third-party providers could pose a challenge to banks’ core offerings if banks are not keeping pace with innovation.

Cloud & Infrastructure

Philippines Fintech Push Makes it a Compelling Market to Watch

By Philip Keller | 19/03/2019

Industry veteran Philip Keller explores the approach taken by regulators in the Philippines to encourage fintech innovation and financial sector digitalisation.