All posts tagged "Virtual Banks"
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584Fintech / RegtechKorea to Enhance Transparency of Digital Bank Evaluations
The FSC has announced changes to the operational procedures of its evaluation committee for internet-only bank, amid plans to reopen applications for new licences on 10 October.
July 18, 2019 -
4.6KAML / 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 -
975Big PictureSingapore Digital Banks to Disrupt Smaller Incumbents the Most
Singapore's big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody's Investors Service.
July 4, 2019 -
2.3KFintech / RegtechMAS to Issue Up to Five Digital Bank Licences
The initiative effectively extends digital bank licences to non-bank players, as existing banking groups in Singapore already have a framework for setting up digital bank subsidiaries.
July 1, 2019 -
1.3KFeatureHSBC Scraps Fees Ahead of Virtual Bank Launches
HSBC will remove below-balance, counter transaction and annual fees for most personal savings accounts as it braces for incoming competition from newly approved virtual banks.
June 20, 2019 -
621Feature
S. Korea FSC Rejects Remaining Internet-Only Bank Applicants
The FSC will accept applications again during Q3 this year. Kiwoom Bank and Toss Bank can address their shortcomings and resubmit their applications.
May 27, 2019 -
1.5KAsia-PacificBanks Need to Be More Agile to Remain Competitive
Banks have not invested sufficiently in modernising their core internal systems due to a stronger focus on customer-facing applications, says Synpulse partner Salomon Wettstein.
May 10, 2019 -
2.4KFintech / RegtechHKMA Grants Four More Virtual Bank Licences
Ant Financial, Tencent, ICBC Asia, HKEX, Xiaomi and Ping An are among the backers of the four licence recipients, bringing the total number of virtual banks in Hong Kong to eight.
May 9, 2019 -
900Fintech / RegtechMAS Considers the Value of Allowing Virtual Banks in Singapore
The regulator says it is engaging relevant stakeholders to ascertain the unique value that such virtual bank entrants could bring to Singapore's banking landscape.
May 8, 2019 -
1.2KFintech / RegtechHKMA Grants Fourth Virtual Bank Licence to WeLab Digital
The HKMA has granted a fourth virtual bank licence to WeLab Digital, the first stand-alone company to receive the licence.
April 11, 2019
