Bank Innovation
FEBRUARY 6, 2018
The Hong Kong Monetary Authority has released draft guidelines for virtual banks looking to set up in the region, the South China Morning Post reported today. The authority, which will issue its final guidelines on the matter in May, is proposing that virtual banks will need to have a minimum of $38.6 million U.S.,
PYMNTS
NOVEMBER 27, 2020
Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. In other words, banks and financial institutions (FIs) have an obligation to make sure you are who you claim to be.
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American Banker
OCTOBER 10, 2023
The Federal Deposit Insurance Corp. issued a proposal requiring larger banks to implement a three-line-of-defense risk management model and increased board independence in response to observed weaknesses in corporate governance during past financial crises and recent bank failures.
PYMNTS
JULY 29, 2016
A Cabinet document laid out the guidelines for registrations, fares, employment of drivers and how much they should get paid. According to a report , China’s Cabinet released its first rules governing ridesharing, telling local officials on Thursday (July 28) they should move full steam ahead to promote the industry made famous by Uber.
PYMNTS
MARCH 20, 2018
Regulators from around the world are teaming up to create a blueprint for a global FinTech “sandbox.”. Later this week we start work with interested regulators, including colleagues across Europe, the U.S. The EU’s plans for its own blueprint would also include best practices and guidelines for regulatory sandboxes.
PYMNTS
MAY 20, 2020
Making cross-border payments in the EU therefore requires interconnectivity between the regions’ various real-time payments rails. SCT Inst was developed in 2017 to establish operational guidelines by which all real-time payment rails in the EU are required to comply. Official guidelines and regulations can only go so far, however.
PYMNTS
SEPTEMBER 28, 2020
Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.
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