All posts tagged "mutual finance"
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908AML / KYCKoFIU Unveils AML Supervision & Inspection Plan for 2022
KoFIU will begin inspections on VASPs, financial institutions, casinos and mutual finance companies starting February.
January 18, 2022 -
638Capital / LiquidityFSC Korea Issues New Rules for Mutual Finance Companies
The rules will limit lending to the real estate and construction sectors and require mutual finance companies to maintain a minimum liquidity ratio based on firm size.
January 14, 2022 -
1.3KFeatureSouth Korean Financial Institutions Launch ‘MyData’ Services
On Wednesday, 33 firms started offering MyData services, enabling consumers to centralise management of their data from different institutions.
January 6, 2022 -
810Feature
S. Korean Financial Sector Launches MyData Services Pilot
17 FIs and fintechs are piloting the API-based MyData service starting today (1 December), ahead of a full launch on 1 January.
December 1, 2021 -
236Fintech / Regtech
Korea FSC Expands Open Banking Services to Fintechs
Users will be able to access information about their prepaid deposit accounts from mobile applications of any FI offering open banking.
July 30, 2021 -
306KoreaS. Korea to Expand Microfinance Support Fund
Legislative revisions will expand the pool of microfinance funds available by requiring banks and other FIs to make mandatory contributions.
May 27, 2021 -
378Fintech / Regtech
Savings Banks Introduce Open Banking Services: FSC Korea
Open banking is now being provided by all types of deposit-taking institutions in Korea. Credit card companies will start from end-May.
May 1, 2021 -
376AML / KYC
Korea: FSC Financial Sector Focus to Include Risk, Competition, Innovation
The FSC's 2021 policy agenda for the financial sector will include measures to bolster risk management while also strengthening competitiveness and facilitating digital innovation.
February 8, 2021 -
704Fintech / Regtech
FSC Korea Expands Open Banking Access, Grants ‘MyData’ Licences
"With more types of financial institutions joining the open banking system, it will help promote competition and improve consumer convenience," the FSC said.
December 23, 2020 -
809Capital / Liquidity
S. Korea Tightens Lending Standards in Non-Bank Sector
The FSC will extend the debt service ratio to include non-bank financial institutions in a bid to rein in household debt.
June 3, 2019
