Fintech / Regtech

Securities / Derivatives

Trade Bodies Jointly Commit to Tackling Market Inefficiencies

By Manesh Samtani | 30/07/2020

The inefficiencies result from a prevalence of customised, paper-based legal documentation, a lack of data standards, and inconsistent reporting requirements.

AML / KYC

HKMA Issues AML Guidance to Banks As Pandemic Persists

By Manesh Samtani | 30/07/2020

The guidance sets out key practices banks have been using to manage customer due diligence, resource pressure, and emerging threats in the context of Covid-19.

Fintech / Regtech

WeLab Bank Announces Public Launch of Virtual Banking Services

By Editors | 30/07/2020

WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.

Crypto / Digital Assets

Philippines Launches DLT-based Distribution of Retail Treasury Bonds

By Sanday Chongo Kabange | 29/07/2020

The launch of ‘Bonds.PH’ paves the way for the unbanked to affordably and easily invest in retail treasury bonds, said National Treasurer Rosalia V. De Leon.

Fintech / Regtech

HKMA Asks Banks to Participate in KPMG Regtech Stocktake

By Editors | 27/07/2020

HKMA has appointed KPMG as an external consultant to conduct surveys and interviews with banks and technology firms on Regtech development in Hong Kong.

Fintech / Regtech

FSC Korea to Overhaul Digital Finance Regulations – Report

By Editors | 27/07/2020

Mobile payment service providers will be allowed to offer deferred payment services, issue payment accounts to users, and enable larger transaction limits.

AML / KYC

BOT Green-lights Use of Facial Recognition Tech at Five Banks

By Editors | 26/07/2020

BOT has issued new guidelines on the use of biometric technology in financial services, and granted approval to five banks to use facial recognition in account opening.

Crypto / Digital Assets

Malaysia SC to Engage with Digital Asset Wallet Providers

By Editors | 24/07/2020

Digital asset wallet providers are asked to contact the SC for an engagement on their business operations and to provide feedback on a regulatory framework for such providers.

Fintech / Regtech

CBIRC Issues Final Rules for Banks Engaged in Online Lending

By Editors | 23/07/2020

Online loans by banks should generally not exceed a one year term or 200,000 yuan per household. Banks must ensure loan proceeds are not used for property or risky investments.