Fintech / Regtech

Enforcement

US Financial Firms to Spend $18bn on Surveillance Tech This Year

By Editors | 03/12/2022

The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.

Capital / Liquidity

APRA Pledges to Minimise Burden of New Data Collections

By Editors | 02/12/2022

APRA says it is committed to “early and frequent” engagement with the industry on its new data collections, what it calls a “co-design approach”.

Fintech / Regtech

EU’s Digital Operational Resilience Act Wins Final Approval

By Manesh Samtani | 01/12/2022

All financial entities and the third parties that provide them ICT-related services will have to adhere to DORA requirements from around the end of 2024.

Crypto / Digital Assets

More Than 500 Banks Have Now Adopted ‘Swift Go’

By Editors | 30/11/2022

Swift outlines progress made in 2022 toward the G20’s goals for enhancing cross-border payments, including through CBDC experimentation.

AML / KYC

GLEIF Enables LEI Mapping for S&P Global Company IDs

By Editors | 30/11/2022

GLEIF already provides ISIN-LEI, BIC-LEI and MIC-LEI mapping certification, and has been encouraging data vendors to map their identifiers to the LEI.

Fintech / Regtech

Experian Appointed Bureau Operator for Singapore BNPL Industry

By Editors | 30/11/2022

Experian will facilitate creditworthiness checks for consumers using credit information submitted by all accredited BNPL players in Singapore.

Fintech / Regtech

BNM Consults on Licensing Framework for Digital Insurers

By Mark Johnston | 30/11/2022

Digital insurers and takaful operators will initially be subject to a lower minimum paid-up capital requirement during a 3-5 year foundational period.

Crypto / Digital Assets

BOJ to Involve Banks in CBDC Testing Around April 2023

By Sanday Chongo Kabange | 28/11/2022

The BOJ’s next phase of CBDC testing will involve Japan’s three megabanks as well as regional banks. A digital yen could be issued in 2026.

Fintech / Regtech

FSC Korea Outlines Reforms to Provide Boost to Insurance Sector

By Editors | 26/11/2022

The reforms will promote digital marketing and sales channels, product innovation, and ease insurance asset management rules to enable more efficient portfolio management.