Fintech / Regtech

Market Infrastructure

HKMA Reports on Open API Implementation Progress

By Editors | 01/08/2019

Phase I Open APIs provide information on banking products and services. Phase II will allow banks to process applications for such products and services by end-October.

Securities / Derivatives

SFC Raises Standards for Data Submissions by Brokers

By Manesh Samtani | 01/08/2019

In-scope brokers are expected to implement system changes and make other arrangements needed for compliance with the new Data Standards by end-October 2020.

Fintech / Regtech

Taiwan Issues First Three Digital Bank Licences

By Editors | 31/07/2019

The three digital only bank licences went to conglomerates led by Japan’s LINE Group; Taiwan’s Chunghwa Telecom; and Japanese e-commerce firm Rakuten Inc.

Fintech / Regtech

RBA Policy Shift Opens Australian Payments Market to Tech Firms

By Manesh Samtani | 31/07/2019

An RBA policy update will make it easier for fintechs – and so-called BigTechs – to enter Australia’s payments system without having to obtain a banking licence.

Fintech / Regtech

India Enables Consent-Based Financial Data Sharing

By Manesh Samtani | 26/07/2019

Four years of collaboration between India’s major financial regulators has resulted in a new platform that enables financial services providers to share data with other institutions based explicitly on user consent.

Market Infrastructure

CCP12 Publishes Best Practices to Address Outsourcing Risk

By Editors | 26/07/2019

As CCPs move to more complex supply chain models, proper oversight mechanisms and controls need to be in place to manage the risks introduced by third-parties.

Fintech / Regtech

First Non-Financial Firm Approved to Raise Stake in Korean Digital Bank

By Editors | 25/07/2019

According to the FSC, messenger app operator Kakao has met the qualification criteria for owning a 34% stake in Kakao Bank, one of Korea’s two internet-only banks.

Fintech / Regtech

Govt Panel Formally Recommends Complete Crypto Ban in India

By Manesh Samtani | 24/07/2019

An inter-ministerial committee has formally recommended a complete ban on cryptocurrencies in India and to punish any crypto-related activity with up to 10 years’ jail.

Fintech / Regtech

SFA, AFIN Agree to Jointly Promote Fintech Marketplace APIX

By Editors | 24/07/2019

The Singapore Fintech Association will leverage its network to promote the APIX platform to fintech firms worldwide, while AFIN connects banks with fintechs through the platform.