AI, Technology & Data

Payments & Settlements

SWIFT to Pilot Real-time Error Detection in gpi Payments

By Editors | 06/12/2018

SWIFT gpi pre-validation service will ensure preventable errors and omissions are corrected before initial payment instructions are sent, reducing delays and costs for banks.

Cybersecurity

BCBS Publishes Report on Cyber-Resilience Practices Across Jurisdictions

By Editors | 05/12/2018

The report identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions.

Custody & Infrastructure

Calastone to Migrate Global Funds Network to Blockchain

By Matthew Chan | 04/12/2018

By moving to a blockchain platform, Calastone seeks to address the high cost of funds distribution and operational risk resulting from manual processes, older systems and legacy technology.

Cybersecurity

SEBI Issues Cybersecurity Framework for Brokers, Depository Participants

By Manesh Samtani | 04/12/2018

Stockbrokers and depository participants will have to formulate a comprehensive cyber security and cyber resilience policy document in accordance with the guidelines by April 2019.

Cybersecurity

MAS to Co-Fund Financial Sector Efforts to Develop Local Cyber Capabilities

By Editors | 04/12/2018

The MAS will support financial institutions that establish global or regional cybersecurity centres in Singapore, or run key cybersecurity functions from the city to develop local capabilities.

Cybersecurity

TransUnion Online Service Suspended in Hong Kong – Reports

By Editors | 03/12/2018

The HKMA and privacy commissioner have demanded security improvements after reporters were able to access top officials’ credit reports through TransUnion’s online service.

Capital Adequacy

No Shortage of Risks Looming Across Financial System

By Manesh Samtani | 03/12/2018

Banking system reforms will have to adapt to new risks to mitigate the effects of the next financial crisis, said BCBS secretary general William Coen, hinting at a future ‘Basel IV’.

Anti-Money Laundering

Singapore Pushes Data Analytics, Collaboration to Counter Financial Crime

By Editors | 30/11/2018

A new report by Singapore’s AML/CFT Industry Partnership identifies key weaknesses of current approaches that can be addressed with data analytics and greater industry collaboration.

KYC & CDD

Overcoming the Challenges of Cross-Jurisdictional Customer Onboarding

By Claus Christensen | 28/11/2018

A digital-first approach to customer onboarding can protect companies from internal delays, customer dissatisfaction, hefty regulatory fines and reputational risk, says Claus Christensen.