Fintech / Regtech

Fintech / Regtech

Mainland China and Hong Kong Launch Fast Payments Link

By Sanday Chongo Kabange | 23/06/2025

HKMA and PBOC launched “Payment Connect”, streamlining cross-boundary payments and remittances between Hong Kong and Mainland China.

Fintech / Regtech

BSP Proposes Model Risk Management Guidelines for FIs

By Sanday Chongo Kabange | 20/06/2025

The BSP has proposed model risk management guidelines for financial institutions to enhance operational resilience and mitigate potential losses.

Fintech / Regtech

Thailand Awards Three Virtual Banks Licences

By Manesh Samtani | 20/06/2025

Thailand has awarded virtual bank licences to three consortia, including one led by SCB X in partnership with China’s WeBank and Korea’s KakaoBank.

Fintech / Regtech

UBS, Pictet Suffer Data Leak Following Cyberattack on Vendor

By Thisanka Siripala | 20/06/2025

Both banks said client information was not affected by the cyberattack on Chain IQ, only employee-related data.

Fintech / Regtech

South Korea Launches Enhanced “MyData 2.0” Service

By Sanday Chongo Kabange | 19/06/2025

“My Data 2.0” incorporates seven improvements announced in April 2024 including enhanced consumer protections.

Enforcement

ACCC Fines NAB Over CDR Data Quality Issues

By Sanday Chongo Kabange | 19/06/2025

The ACCC said NAB’s payment of the penalties is the highest amount paid for alleged contraventions of the CDR rules to date.

Fintech / Regtech

Shanghai, Hong Kong Agree 38-Point Action Plan to Deepen Ties

By Editors | 19/06/2025

The action plan includes specific measures such as jointly developing financial products and connecting Hong Kong’s FPS with China’s IBPS.

Crypto / Digital Assets

Korea FSS Considers Inspections of Korbit Over Trading Suspension

By Thisanka Siripala | 19/06/2025

The FSS is said to be investigating the cause of a 12-hour trading and services suspension at crypto exchange Korbit.

Fintech / Regtech

“Perfect Storm” of Operational Risks Brewing: APRA Official

By Thisanka Siripala | 19/06/2025

APRA’s Chris Gower said geopolitics, cyber threats, and third-party reliance create operational resilience challenges for the financial sector.