AI, Technology & Data

Cloud & Infrastructure

Eight Firms Pass Initial Screening for GFIN Cross-Border Testing Pilot

By Manesh Samtani | 30/04/2019

Eight out of 44 applicant firms have passed an initial screening by GFIN members, and will now develop testing plans for regulators to consider and approve.

Data Privacy

China National Credit System to Include Foreign Data

By Editors | 29/04/2019

Foreign workers in China will be required to submit their personal credit information, including from activities in other countries, to the national credit system in order to obtain loans.

Structural Regulation

Closer Cooperation Key to Greater Bay Area Success – FTAHK

By Manesh Samtani | 28/04/2019

There are significant opportunities for cross-border collaboration and integration across the Greater Bay Area, the FinTech Association of Hong Kong says in a new report.

Cloud & Infrastructure

Technology to ‘Transform’ a Third of Singapore Finance Jobs – Study

By Editors | 24/04/2019

The main effect of technology will be to “transform” jobs in the financial industry, rather than create or destroy them, says an EY study commissioned by MAS and IBF.

Data Privacy

China Delays Data-Onshoring Rules Until After US Trade Talks

By Editors | 23/04/2019

China’s Cyber Security Law requires firms to keep personal and ‘important data’ onshore, but uncertainties around the rules and implementation timeline remain.

Structural Regulation

Korean FIs Should Strengthen Ties with ASEAN Countries – FSS

By Editors | 22/04/2019

FSS first senior deputy governor Yoo Kwang-yeol in a closed door meeting told Korean financial institutions with units in Southeast Asian countries to offer more localised financial services.

Cloud & Infrastructure

RBI Unveils Draft Framework for Regulatory Sandbox

By Editors | 19/04/2019

The framework details a comprehensive selection process to identify 10-12 entities to participate in the sandbox, including a 5 million rupee minimum net worth requirement.

Conduct, Culture & Accountability

Korea FSC to Use Technology to Deter Misleading Marketing

By Editors | 19/04/2019

The FSC wants to ensure consumers are protected as financial services become more accessible through digital platforms through the introduction of open banking.

AI Risk & Governance

S. Korea Passes Law Allowing Robo Advisers to Manage Funds

By Editors | 18/04/2019

Korea is allowing robo advisers to operate funds, provided they are managed in line with disclosed objectives and have security breach prevention measures in place.