All posts tagged "Onboarding"
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1.2KAML / KYCMAS to ‘Take Another Crack’ at KYC Utility Project
The KYC Utility project was shelved last year after the setup costs were deemed to be too high. This time, the MAS will look at “less costly” technology architecture.
November 15, 2019 -
1.3KAML / KYCBangladesh to Launch e-KYC for Bank Account Opening in January
Account opening in Bangladesh currently takes 3-7 days. Based on pilot testing in 33 districts, the new e-KYC system will reduce this to just 5 minutes.
October 31, 2019 -
2.4KAML / KYCFinancial Institutions Must Adapt and Innovate or Be Left Behind
Outdated systems are preventing one in four Asia Pacific banks from investing in disruptive technologies, says Greg Watson, citing a recent Fenergo survey.
September 13, 2019 -
1.3KAML / KYCHKMA Issues Clarification on Non-Face-to-Face Onboarding
In line with SFC requirements, the HKMA says banks need not re-verify a client’s identity when opening an investment account if they’ve already done so for bank account opening.
August 24, 2019 -
2.0KFeatureBursa Malaysia Revamps Rules for Derivatives Market Participants
The updated rules allow non-face-to-face onboarding, remove voice logging for client orders, and introduce higher governance standards, among others.
August 15, 2019 -
829Big PictureGlobal Crypto Trading Should be Guided by IOSCO Principles: WFE
"Innovation which has the potential to present systemic risk or is allowed to operate in an unchecked or unregulated manner is detrimental to financial markets and investor interests."
August 3, 2019 -
5.8KAML / KYCThe Rise of Digital Banks in Asia Raises Compliance Questions
The entrance of FinTech and BigTech firms into banking is forcing incumbents to adapt, but it should not come at a cost to compliance obligations, writes Claus Christensen at Know Your Customer Ltd.
July 16, 2019 -
1.0KAML / KYCSFC Enables Technology Approach for Overseas Client Onboarding
From 5 July, intermediaries can access embedded data in client identity documents for onboarding. Captured biometric data such as a facial image can be used for identity verification.
July 1, 2019 -
1.7KAML / KYC
HKMA Sets Out AML/CFT Best Practices for SME Onboarding
A thematic review has concluded that authorised institutions have in general applied the risk-based approach to AML/CFT measures, but there is room for improvement.
June 17, 2019 -
2.6KAML / KYCFinancial Crime on the Rise in APAC
Almost three-quarters of Asia Pacific organisations have been victims of financial crime in the past year, according to recently published survey results by Refinitiv.
May 31, 2019
