AI, Technology & Data

Structural Regulation

MAS 610 a Top Concern for Singapore Banks in 2019 – Report

By Manesh Samtani | 15/06/2018

High granularity data for new reporting regime requires reporting of approx. 300,000 data elements, the top concern for Singapore banks next year, according to Wolters Kluwer survey.

Cloud & Infrastructure

S. Korean Banks to Introduce Blockchain-based User Verification

By Manesh Samtani | 15/06/2018

Korea Federation of Banks to introduce BankSign system next month; will significantly enhance and simplify user verification process for online and mobile banking through blockchain technology.

Cybersecurity

HKMA Adds Two Additional Phases to Cyber Resilience Assessment

By JP Reimann | 14/06/2018

Second phase to cover 60 authorised institutions with higher risk, third phase to cover about 90 remaining institutions; HKMA expressed concern about lack of qualified C-RAF assessors.

Cybersecurity

Industry-wide Collaboration Needed to Combat Cyber Threat – DTCC

By Manesh Samtani | 14/06/2018

DTCC Chief Security Officer Stephen Scharf says traditional focus on preventative measure at individual firm level are no longer enough; closer collaboration is needed to develop collective response and recovery plans.

Cybersecurity

FS-ISAC Establishes Global Forum for Cyber Threat Information Sharing

By Garima Chitkara | 14/06/2018

Inaugural global community CERES Forum to bring together financial regulators, central banks and supervisors to combat cyber and physical crime, enhancing financial sector resiliency.

Cloud & Infrastructure

Data Driven Regulatory Regimes Challenge Bank Workflows – Report

By Manesh Samtani | 12/06/2018

Wolters Kluwer research says legacy systems no longer fit for purpose; most firms plan to integrate data in regulatory workflows despite low confidence in data quality.

Payments & Settlements

Singapore, India Establish Joint Working Group on FinTech

By Karen Chiu | 06/06/2018

Joint working group to foster closer fintech cooperation, including through real-time cross border fund transfers and links between payment system operators.

Trading & Investment

Taiwan to Launch Crude Oil Futures in July

By Manesh Samtani | 05/06/2018

Taiwan Futures Exchange chairman says crude oil futures will allow domestic investors to trade without adverse currency fluctuations; also exploring the application of fintech and other technologies for clearing services.

Conduct, Culture & Accountability

New Zealand Publishes Revised Code of Banking Practice

By JP Reimann | 04/06/2018

New code promises fair treatment, clear communication, customer privacy, responsible lending, effective complaints handling.