Fintech / Regtech

Fintech / Regtech

MAS to Issue Up to Five Digital Bank Licences

By Editors | 01/07/2019

The initiative effectively extends digital bank licences to non-bank players, as existing banking groups in Singapore already have a framework for setting up digital bank subsidiaries.

Fintech / Regtech

ASIC Proposes New Rules for Market Operators, Participants

By Editors | 30/06/2019

The proposals seek to ensure resilience of critical systems, reliability of outsourced services, and appropriate management of cyber and data security risks, among other requirements.

Fintech / Regtech

GFiN Publishes Report Reflecting on First Year of Work

By Editors | 27/06/2019

The Global Financial Innovation Network has published a report reflecting on its work  over the past year, and its ambitions for the future.

Fintech / Regtech

Australian Fintechs Says Banks Are Delaying NPP Adoption

By Editors | 27/06/2019

Earlier this month, the RBA called for an enforceable sanctions regime and possible financial penalties for participants that do not deliver core NPP capabilities on time.

Fintech / Regtech

Singapore, Indonesia to Launch Cross Border QR Payments

By Editors | 27/06/2019

Singapore’s Liquid Group and Indonesia’s CIMB Niaga have established a partnership to accelerate adoption of cross border QR payments.

Fintech / Regtech

APRA Releases Finalised Guidance on Information Security

By Editors | 26/06/2019

The updated guidance is intended to help regulated entities comply with APRA’s new cross-industry prudential standard on information security, which comes into force on 1 July.

Fintech / Regtech

Regulatory Coordination Needed to Mitigate BigTech Risks: BIS

By Editors | 25/06/2019

An element of risk is BigTechs’ access to data from existing social media, search engines and ecommerce platforms, which raises competition and data privacy issues.

AML / KYC

FATF Adopts Global AML/CTF Standards for Crypto Activity

By Manesh Samtani | 24/06/2019

The FATF has established binding obligations for countries and virtual asset service providers to comply with AML/CTF standards to prevent the misuse of virtual assets.

Market Infrastructure

Mirae Asset Daewoo to Launch Payments Business

By Editors | 21/06/2019

The FSC lifted restrictions barring brokerage firms from entering the payments business last December. WeChat Pay will be used in Mirae Asset Daewoo’s new payment gateway.