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Singapore launches talent advisory body
A new “tripartite” banking advisory has been set up in Singapore to strengthen the state’s talent pool amid rapid technological changes, Indranee Rajah, senior minister of state for law and finance,...
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PBs must adapt to blockchain, says world’s first crypto WM platform
Wealth managers must eventually adapt to blockchain and cryptocurrencies amid rising client demand and compliance challenges, a crypto-based wealth management platform has told Asian Private Banker....
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Banks struggling to comply with MAS’s new 610 regulation
Banks operating in Singapore are finding it difficult to comply with the Monetary Authority of Singapore’s (MAS) new 610 regulation, as many continue to using outdated reporting standards such as...
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CBRC steers Mainland banks into ‘big data’ era with new directive
The China Banking Regulatory Commission (CBRC) is guiding the Chinese banking industry into the ‘big data’ era as it launches a data management framework for banks. The commission has requested banks...
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Citi launches digital advisory platform in China
Citi has launched its new Total Wealth Advisor platform for Citigold clients in China, as the bank expands its digital wealth tools to a broader spectrum of clients. The bank will offer its wealth...
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Cryptocurrency firms unlikely to qualify for SFC licences
Cryptocurrency firms are unlikely to qualify for the licences issued by the Securities and Futures Commission (SFC), legal experts say. The qualification is necessary for them to make Initial Coin...
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Thirdrock Group signs AGDelta for digital upgrade
Singapore-based independent asset manager (IAM) Thirdrock Group has announced a partnership with digital solutions provider, AGDelta, to upgrade its client relationship, portfolio management, and...
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Singapore robo advisor StashAway to expand with new funding
Singapore-based ETF robo advisor StashAway has secured SG$5.3 million from investors in its latest fundraising effort. The company’s latest fundraising success will add to the SG$2.15 million it had...
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CMB sets up asset management subsidiary to ring-fence WMP risks
China Merchants Bank, the Chinese banking industry’s second-largest issuer of wealth management products (WMP) by product balance, is setting up an independent asset management subsidiary which will...
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CMB “set to become a fintech company”
China Merchants Bank has upped the ante in the Chinese banking industry’s current push into fintech, responding to similar moves made by peers that have set ambitious digital transformation programmes...
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BOC PB eyes AI-allocated portfolios as fund alternative
Bank of China (BOC) Private Banking, China’s third largest, is working on developing its capability for artificial intelligence-allocated investment portfolios, as a potential alternative to mutual...
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Australia and UK regulators upgrade fintech partnership
Regulatory bodies in Australia and the UK signed an upgraded deal last week to facilitate fintech collaborations between the two jurisdictions, according to a statement by the Australian Treasury....
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Singapore, Japan fintech associations ink cooperation agreement
The Singapore FinTech Association (SFA) and the Fintech Association of Japan (FAJ) have signed a Memorandum of Understanding (MoU) this month in a move to enhance fintech cooperation between the two...
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Europe’s new payment directive to spur banking competition
The revised Payment Services Directive (PSD2), which fully came into effect in Europe on January 13, 2018, will increase competition among banks and cause a ripple effect across the APAC region, a...
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HK fintech association establishes its first board of directors
The FinTech Association of Hong Kong (FTAHK), has announced the appointment of its first board of directors yesterday, with Henri Arslanian, PWC’s fintech and regtech lead for Hong Kong and China, as...
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MAS to develop industry guidelines for AI use
The Monetary Authority of Singapore (MAS) is planning to develop a set of guidelines that will promote the responsible and ethical use of artificial intelligence (AI) and data analytics in the city...
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MAS finalises “Notice 610” reporting requirements
The Monetary Authority of Singapore (MAS) has finalised its requirements on how banks should report their trades activities in different currencies under the guidelines outlined in its “Notice 610” to...
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DBS Accelerator programme adds compliance focus
DBS (Hong Kong) commenced its fourth fintech accelerator programme yesterday, expanding its call for collaboration to include tech providers focusing on compliance solutions. The six fintech startups...
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Saxo Bank launches trading platform, targets IAMs and family offices
Saxo Bank launched a new single dealer platform in Hong Kong today, targeting independent asset managers (IAMs), family offices and small private banks with a tool that facilitates the trading of a...
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SFC suitability checks for complex products “a tricky area”
Private banks designing online suitability checks for complex products are in a “tricky” situation due to the ambiguity of the recently published Securities and Futures Commission (SFC) consultation...
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