Fintech / Regtech

AML / KYC

HKMA Spotlights RegTech Use to Implement AML/CFT Measures

By Manesh Samtani | 15/06/2020

The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.

Fintech / Regtech

FSC Korea Outlines Key Policy Tasks for H2 2020

By Editors | 14/06/2020

The measures include continued support for businesses and individuals, with some focus being diverted back to pre-Covid policy work to support innovation and data-driven initiatives.

Fintech / Regtech

Taiwan Fintechs to Gain Access to Canada’s Securities Sandbox

By Editors | 12/06/2020

The CSA sandbox allows firms to obtain exemptive relief from securities law requirements to test new products and services in the Canadian market on a time-limited basis.

Fintech / Regtech

Korea: Unauthorised Toss Payments Prompt Wider Review of Fintechs

By Editors | 12/06/2020

The FSS is considering conducting reviews of some 40 fintech companies after eight unauthorised transactions were detected on Viva Republica’s payments platform Toss.

AML / KYC

Chinese Police Freeze 4,000 Bank Accounts in Crypto Probe

By Editors | 11/06/2020

Guangdong police have reportedly frozen about 4,000 bank accounts belonging to cryptocurrency traders in a crackdown on illicit activities.

Fintech / Regtech

Xiaomi-AMTD Joint Venture Launches Hong Kong Virtual Bank

By Editors | 11/06/2020

Airstar Bank commits to becoming “Everyone’s Bank”, contrasting itself with conventional banking models which focus on high net-worth individuals.

Fintech / Regtech

SFA Launches Self-assessment Framework, Toolkit for FinTechs

By Manesh Samtani | 10/06/2020

The framework and toolkit allow FinTechs to benchmark themselves against minimum standards on outsourcing, technology risk, and cyber hygiene, helping to fast-track onboarding with FIs.

Fintech / Regtech

FSC Korea Opens Applications for New Data Specialist Designation

By Editors | 10/06/2020

Designated ‘data specialising institutions’ will be able to use anonymised and pseudonymised customer data for statistical and industry research and for public documentation purposes.

Fintech / Regtech

BOK to Form Dedicated Digital Innovation Division

By Editors | 09/06/2020

The new division will study the use of AI and big data to deliver more sophisticated economic forecasts and statistical data, and ramp up efforts to develop CBDC capabilities.