FINTECH / REGTECH

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    Fintech / Regtech

    HKMA Consults on Renaming ‘Virtual Banks’ as ‘Digital Banks’

    By Sanday Chongo Kabange | 07/08/2024

    HKMA also published the results of its review of the industry, saying the requirement for virtual banks to primarily deliver retail banking services will be removed.

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    AML / KYC

    The Case for Change: Leveraging GenAI in Anti-Financial Crime

    By Bradley Maclean | 07/08/2024

    GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.

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    Fintech / Regtech

    HKMA Looks to Bolster Internal Cybersecurity Capabilities

    By Manesh Samtani | 07/08/2024

    HKMA is planning to deploy a new solution to help it identify “assets, vulnerabilities, and potential entry points that could be targeted by attackers” and manage its attack surface.

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    Fintech / Regtech

    US Regulators to Jointly Adopt Common Data Standards

    By Editors | 06/08/2024

    The Federal Reserve, SEC, CFTC and six other agencies will adopt common identifiers including the LEI and UPI.

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    Capital / Liquidity

    RBI Proposes Regulatory Principles for Managing Credit Models

    By Ajoy K Das | 06/08/2024

    Lenders using models from third parties have to ensure the contractual arrangements allow supervisory evaluations of the models by the RBI.

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    ESG / Sustainability

    IFRS Foundation Issues Guidance on Digital Financial Reporting

    By Ranamita Chakraborty | 06/08/2024

    IFRS Foundation provides guidance to regulators on implementing digital taxonomies for digital financial reporting.

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    AML / KYC

    MAS Consults on Suspension of Certain China Remittance Channels

    By Nithya Subramanian | 06/08/2024

    MAS proposes to continue with the suspension announced last December and to expand its scope to include legal entities.

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    Securities / Derivatives

    SEBI to Overhaul Approval Process for IPOs Using AI

    By Ajoy K Das | 06/08/2024

    A “template fill-in-the-blank IPO document” will be introduced and AI-based tools will be used to review the documents.

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    Fintech / Regtech

    Bank Indonesia Issues Five-Year Payment System Blueprint

    By Editors | 06/08/2024

    Bank Indonesia Governor Perry Wariyo said the plan to issue digital rupiah has entered the final stages.

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    Fintech / Regtech

    PBOC, HKMA Sign Cooperation Framework for Payments Linkage

    By Editors | 04/08/2024

    The cooperation framework will enable the Chinese and Hong Kong authorities to link their fast payment systems.

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