Fintech / Regtech

AML / KYC

UN Security Council Resolution Targets Terrorism Financing

By Editors | 01/04/2019

The UN Security Council has adopted a resolution calling on member states to beef up efforts to identify, prosecute and penalise those directly or indirectly financing terrorism.

AML / KYC

Philippines to Launch Digital Banking ID Registry This Year

By Editors | 31/03/2019

The blockchain powered ID registry will enable electronic KYC and make it easier for clients to access banking services.

Fintech / Regtech

Malaysia Seeks Licensing Regime for Virtual Banks by Year-End

By Editors | 29/03/2019

Though discussions are still in the preliminary stages, Malaysia’s central bank is looking to publish its requirements for virtual bank licences by the end of the year.

Fintech / Regtech

S. Korea FSC Receives Three Applications for Internet-Only Banks

By Editors | 29/03/2019

The FSC will review the applications with an aim to approving a preliminary licence for one or two new internet-only banks in May.

Fintech / Regtech

Banks Not Using Latest RegTech Solutions Must Explain Why – ASIC

By Editors | 29/03/2019

ASIC reportedly plans to force banks to explain why they aren’t using the latest technology to improve regulatory compliance, including systems offered by regtech startups.

Fintech / Regtech

HKMA Approves Three Virtual Banks, Five More Being Considered

By Editors | 27/03/2019

The three newly licenced virtual banks are joint ventures involving BOCHK, JD Digits, Jardines, Standard Chartered, HKT, PCCW, Ctrip, ZhongAn Online and Sinolink.

Capital / Liquidity

New Internet-Only Banks in S. Korea to Get Grace on Basel Rules

By Editors | 26/03/2019

The FSC wants to grant new internet-only banks three years’ grace on Basel III requirements to ease the regulatory burden during the early stages of their business operation.

Fintech / Regtech

Singapore, Australia Fintech Bodies Agree to Collaborate

By Editors | 26/03/2019

FinTech Australia and the Singapore Fintech Association have agreed to collaborate on fintech initiatives across ASEAN and Australia. The MoU was signed at Money20/20 in Singapore last week.

Fintech / Regtech

RBI to Issue Regulatory Sandbox Guidelines Within 2 Months

By Editors | 26/03/2019

The RBI will set up a regulatory sandbox and create an ecosystem which promotes collaboration in fintech, central bank governor Shaktikanta Das said on Monday.