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KYC & CDD
Chinese Banks Told to Develop e-KYC, Facial Recognition
By Samuel Riding | 22/01/2018
PBOC notice says e-KYC can help better serve real economy; SME account applications should be audited within two days of receipt.
Cloud & Infrastructure
HKMA Proposes Open APIs for Financial Services
By Editors | 15/01/2018
Consultation suggests it could take just six months for banks to develop APIs including their product and service information.
Structural Regulation
Australia Licences Seven Crowd-Funding Intermediaries
By Editors | 14/01/2018
Eligible public companies can raise up to AUD 5 million in funds through equity crowdfunding and will face fewer regulatory requirements for fundraising.
Structural Regulation
Beware Regulatory Fragmentation in 2018 – Deloitte
By Samuel Riding | 11/01/2018
Trend towards more isolated policymaking will challenge the implementation of financial regulations on a worldwide basis.
Cybersecurity
India’s Biometric Identity Database Vulnerable to Cyber Attacks: RBI Research
By Garima Chitkara | 11/01/2018
Aadhaar throwing up issues around data security even as financial benefits of the nation-wide biometric identification system are unclear.
Cloud & Infrastructure
Taiwan Passes Regulatory Sandbox Law
By Garima Chitkara | 05/01/2018
Tech firms will need to pass an assessment for FSC approval to use the sandbox and gain exemptions from certain regulations.
Cloud & Infrastructure
Foreign Vendors Dominate Bangladesh Banking Tech
By Editors | 27/12/2017
Although foreign software costs more and regulatory change cannot be adopted instantly, banks prefer them for their functionality and flexibility.
Emerging Prudential Risks
Geopolitical Risk a Grave Concern for Financial Services in 2018
By Editors | 14/12/2017
DTCC report says cyber risk continues to be seen as greatest threat, but many firms now see geopolitical issues as one of the five biggest concerns.
Conduct, Culture & Accountability
China Tackles Online Lending Risk with Information Platform
By Editors | 14/12/2017
More than 110 internet firms subscribe to platform which reveals corporate governance and transaction volume of online loans.
AI Risk & Governance
BoJ Expects Large IT Firms to Become Systemically Important
By Samuel Riding | 07/12/2017
Haruhiko Kuroda says global IT platform providers could pose systemic risk through holding vast amounts of data, adds to warnings on algo contagion.
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