International

Fintech / Regtech

Swift Achieves FSB Speed Target for Cross Border Payments

By Editors | 23/08/2023

89% of transactions processed on the Swift network now reach recipient banks within one hour. The FSB target was 75% by 2027.

ESG / Sustainability

Demand for “Credible” Net Zero Targets Rising – SBTi

By ESG Investor | 22/08/2023

Asia saw the greatest proportional growth in companies setting science-based targets, led by Japan and strong growth in China.

Fintech / Regtech

BCG Explores the Potential of Generative AI for Finance

By Mark Johnston | 22/08/2023

BCG says CFOs should embrace generative AI “immediately” and remove any obstacles to adoption in their departments.

ESG / Sustainability

Asian Banks Underestimating Physical Climate Risk – AIGCC

By ESG Investor | 22/08/2023

AIGCC and China Water Risk call on banks to review their stress testing approaches for sectors that are vulnerable to sea level rise.

ESG / Sustainability

Nature “Consistently Overlooked” by Financial Institutions – CDP

By ESG Investor | 22/08/2023

The majority of institutions “lack the necessary governance mechanisms and board-level expertise” to integrate nature-related issues across operations.

Crypto / Digital Assets

Russia Launches CBDC Pilot With 13 Banks Participating

By Editors | 21/08/2023

The pilot involves 13 banks and 600 individual clients who can make payments at 30 points of sale in 11 Russian cities.

ESG / Sustainability

Rating Stability at Risk from Looming Climate Downgrades

By Hazel Ilango | 21/08/2023

Hazel Ilango discusses the need for a more sustainable, relevant and effective credit rating system that better accounts for climate-related risks.

ESG / Sustainability

UNDP Launches Open Source Carbon Registry Software

By Ranamita Chakraborty | 21/08/2023

The registry is the first of its kind in allowing countries to duplicate and customise its open-source code to suit their specific requirements.

Securities / Derivatives

FSB Launches Review to Assess MMF Reform Progress

By Editors | 21/08/2023

The objective of the review is to take stock of the progress made by jurisdictions to assess and address money market fund vulnerabilities.