Fintech / Regtech

Big Picture

Multilateral Collaboration Essential for CBDC Development

By Editors | 13/07/2021

A new report from CPMI, BIS Innovation Hub, the IMF and the World Bank highlights the need for multilateral collaboration and interoperability between CBDCs.

Fintech / Regtech

MAS Launches ‘Veritas Challenge’ to Strengthen Trust in AI

By Manesh Samtani | 12/07/2021

MAS invites fintechs, solution providers and FIs to submit innovative solutions to help validate the fairness of AI solutions for selected banking use cases.

Fintech / Regtech

PBOC Directs Banks to Enhance Lending Services for MSMEs

By Editors | 12/07/2021

Banks should also increase investment in inclusive fintech including big data, cloud computing and blockchain to improve loan efficiency, the PBOC said.

Fintech / Regtech

SFC, Canadian Regulators Establish Fintech Cooperation Agreement

By Editors | 12/07/2021

Under the agreement, the SFC and eight Canadian securities regulators will cooperate on information sharing and referrals between their innovation functions.

Fintech / Regtech

New Zealand to Establish Consumer Data Right Framework

By Ranamita Chakraborty | 12/07/2021

The government will look to align New Zealand’s CDR system with the Australian model, rolling it out on a sector-by-sector basis.

AML / KYC

BNM Allows MSBs to Onboard Corporate Customers Remotely

By Sanday Chongo Kabange | 12/07/2021

A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.

AML / KYC

Stablecoins Increasingly Used in Money Laundering, PBOC Says

By Editors | 12/07/2021

PBOC governor Fan Yifei says stablecoins are increasingly being used as a tool for illegal activities and money laundering.

Fintech / Regtech

FSC Korea Issues Guidelines on AI-based Financial Services

By Ranamita Chakraborty | 11/07/2021

Financial firms offering services using AI technologies will be required to have controls in place that ensure fairness to prevent consumer discrimination.

Fintech / Regtech

MAS, Banque de France Complete m-CBDC Experiment

By Sanday Chongo Kabange | 11/07/2021

The experiment showed the potential to reduce the number of correspondent banking parties involved in the payment chain for cross-border transactions.