Fintech / Regtech

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.

Fintech / Regtech

Philippine SEC Approves First Crowdfunding Platform

By Editors | 14/01/2021

Investree Philippines is the first crowdfunding intermediary and funding portal to register with the SEC since rules covering the activity took effect in July 2019.

Fintech / Regtech

EU Competition Authorities Approve LSEG-Refinitiv Merger

By Manesh Samtani | 14/01/2021

The commitments offered by LSEG fully address the competition concerns raised by the proposed transaction, the European Commission said in a statement.

Fintech / Regtech

Chinese Regulators to Force Ant, Tencent to Share Borrower Data

By Editors | 14/01/2021

Ant Group affiliate Alibaba and Tencent have so far been resistant to sharing their loan data with credit databases such as Baihang.

Fintech / Regtech

PayPal Acquires Full Control of China Payments Business

By Editors | 14/01/2021

PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.