Fintech / Regtech

AML / KYC

HKMA Publishes Cases Studies on AML/CFT Regtech Adoption

By Manesh Samtani | 21/01/2021

New report details case studies and insights from banks that have implemented technologies to enhance the efficiency and effectiveness of their AML/CFT efforts.

AML / KYC

PBOC Proposes to Tighten Oversight of Non-bank Payments Firms

By Manesh Samtani | 21/01/2021

If the PBOC identifies a non-bank payment institution as a monopoly, it can advise the State Council’s antitrust committee to take action to break up the firm.

AML / KYC

Financial Crime 2021: Digital ID, Due Diligence, Sanctions

By Editors | 21/01/2021

Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.

Fintech / Regtech

Rakuten Launches First Digital-only Bank in Taiwan

By Editors | 20/01/2021

Rakuten International Commercial Bank was one of three groups granted authorisation to set up a digital bank in July 2019.

Fintech / Regtech

Australia: Xinja Bank Completes Return of Customer Deposits

By Sanday Chongo Kabange | 19/01/2021

Australian neobank Xinja announced in December that would be exiting the market, just 15 months after receiving its licence.

Fintech / Regtech

PBOC, CBIRC Restrict Online Sale of Deposit Products by Banks

By Editors | 19/01/2021

The PBOC and CBIRC have formally barred banks from selling personal fixed deposit products online via third party platforms, citing regulatory violations.

Fintech / Regtech

UPDATED – PBOC Says Ant Group Working to Overhaul Business Structure

By Editors | 19/01/2021

Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.

Fintech / Regtech

Asia Has an Opportunity to Demonstrate Global RegTech Leadership

By Manesh Samtani | 18/01/2021

Hong Kong, Singapore and Tokyo each have an opportunity to demonstrate global leadership in the regtech sector, according to a panel of experts hosted by the Asia Society’s Hong Kong Center.

Enforcement

30 Firms Reprimanded Over Data Privacy Violations in Guangdong

By Editors | 16/01/2021

The Guangdong Communications Administration ordered 30 firms including banks and securities firms to fix the breaches and revamp their mobile phone apps.