Lawmakers are concerned that the growth of the BNPL sector could lead to a crisis similar to the 2005/2006 credit card crisis in Taiwan.
January 8, 2023The ACCC said ING Bank was not capable of receiving consumer data requests from accredited data recipients within the required timelines.
December 19, 2022Financial services firms are required to protect consumers and the public during the entire lifecycle of a financial product or service.
May 26, 2022The FSC will prohibit MyData services providers from buying and selling consumer data, and start conducting post-licensing inspections to ensure adequate protections are in place.
April 15, 2022On Wednesday, 33 firms started offering MyData services, enabling consumers to centralise management of their data from different institutions.
January 6, 202217 FIs and fintechs are piloting the API-based MyData service starting today (1 December), ahead of a full launch on 1 January.
December 1, 2021The CSRC is drafting rules that would prohibit Internet firms holding large amounts of user-related data from listing overseas, targeting firms with VIE structures.
August 31, 2021The framework seeks to ensure that all the information obtained by and passed through different digital channels is handled ethically.
August 25, 2021The revised guidelines enhance consumer data protections. MyData businesses will begin offering services via standardised APIs from 1 December 2021.
August 5, 2021A new benchmarking report from GRC Solutions highlights the challenges incoming regulatory requirements are presenting to the mutual banking sector.
July 29, 2021