Fintech / Regtech

Fintech / Regtech

HKMA Publishes Report on AI Adoption by Hong Kong Banks

By Manesh Samtani | 24/12/2019

The lack of employees with AI expertise was cited by 70% of respondents as the top barrier to AI adoption, according to a survey.

AML / KYC

FSC Korea Enables Online Account Opening for Foreigners

By Editors | 24/12/2019

The FSC will allow non-face-to-face account opening by foreigners residing in Korea, and by legal representatives of corporations.

Fintech / Regtech

ICMA Publishes DLT Regulatory Directory and Brief

By Editors | 23/12/2019

The directory and brief seek to provide a non-exhaustive overview of recent DLT regulatory guidance, legislative initiatives, strategy papers and other publications in selected jurisdictions.

Capital / Liquidity

BCBS Addresses Capital Requirements for “Crypto-Assets”

By Douglas Cheung | 23/12/2019

The BCBS consultation will likely give an indication of the banking industry’s mindset towards holding cryptoassets in the future, says Douglas Cheung at Wolters Kluwer.

Fintech / Regtech

ACCC Delays Open Banking Launch for More Testing

By Editors | 20/12/2019

Under the new timeline, consumers can direct the major banks to share credit and debit card, deposit and transaction data from July 2020, and mortgage and personal loan data from November 2020.

Fintech / Regtech

South Korea Formally Launches Open Banking Service

By Editors | 20/12/2019

Open banking will serve as a catalyst for various innovations and bring tectonic shifts in the financial industry, FSC chairman Eun Sung-soo said at the launch event.

AML / KYC

India Shows How Policy Can Solve Financial Inclusion: BIS Paper

By Editors | 19/12/2019

The paper highlights India’s Aadhaar programme, which promotes financial inclusion, offers more robust AML/CFT checks, and has led to the creation of several innovative and interoperable digital platforms.

Fintech / Regtech

UPDATED – ZA Bank Becomes First HK Virtual Bank to Launch Pilot Services

By Editors | 19/12/2019

ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA’s sandbox mechanism.

Fintech / Regtech

Cryptoasset Risk in Misalignment with Investor Profiles: OECD

By Editors | 18/12/2019

New OECD research has found a strong likelihood of misalignment between the risk profiles of some financial consumers and the riskiness of cryptoassets.