Fintech
FCA to examine feasibility of global regulatory sandbox
UK regulator recommends establishing a “college” of regulators to strengthen co-operation across borders; interested parties have until March to comment
Sama enables blockchain for cross-border payments
Pilot with Ripple will allow domestic banks to settle payments across the xCurrent network; payments infrastructure based on the Interledger Protocol
BIS’s Carstens sees danger in rapid technological change
General manager says supervisors should ensure the banking system remains resilient amid numerous challenges to traditional business models
Sarb unveils new fintech push
South Africa’s central bank to investigate DLT usage for clearing and settlement; fintech roadmap will examine crypto regulation
World does not have to be ‘hostage’ to technology – Wilkins
Finding a way to control the market power of tech giants will be important, the Bank of Canada deputy says
Carstens: regulators should not forget the non-banks
Banking standards may be largely complete but there is still work to do on non-banks and fintech, the new BIS chief says
Co-operation key to cyber defence success, says Sarb deputy
Groepe says institutions need to ensure fintech interconnectivity does not cause system failure; new players should be held to the same security standards
Anti-money laundering technologies can bring new risks – European supervisors
Regulators need to ensure firms understand new technologies, ESAs say
Do not ban cryptocurrencies – DNB
Central bank says a ban would be difficult to enforce and could impede innovation
Central Banking Awards: BoE a leader in fintech
Awards go to the Bank of England, Vizor, Lanqart and Openlink for their innovative work
Technology consultant of the year: Vizor Software
The Dublin-based company continued to grow its client base in 2017, proving its mettle in emerging markets, with the addition of Brunei’s central bank and the Zambian pensions and insurance regulator
Initiative of the year: Bank of England’s FinTech Accelerator
The UK central bank has embraced fintech service providers in a controlled manner to bolster its cyber-security and payments capabilities
Consultancy and advisory provider of the year (data and regulatory management): BearingPoint
BearingPoint’s expertise in data and reporting has informed a number of high-level bodies over the past year, including the Basel Committee and the IMF, following groundbreaking work in Austria
Russia raises capital ratios, launches fintech consultations
Systemically important banks must increase capital ratios; smaller banks can choose “basic” or “universal” licences
HKMA launches consultation on open API framework
Open API enables personalised services for bank users but requires access to customer data
Bank of Lithuania set to board the blockchain
Central bank in the process of creating blockchain-specific sandbox that will grant firms access to its own platform, LBChain; hoping to launch in 2019
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
FCA mulls use of AI to tackle money laundering
Crime unit head says the financial regulator views machine learning as a complement to human judgement, not a replacement
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
BoJ working closely with fintech firms, says Kuroda
Fintech can make contributions to both emerging and developed countries, but needs close monitoring, Haruhiko Kuroda says
Asian banks vulnerable to fintech disruption, report finds
Banks reliant on transaction fees will struggle to compete with fintech firms who will offer cheaper alternatives; banks in HK, Korea and Singapore all at risk
How crypto is my currency?
Richard Heckinger examines how central banks are grappling with new ideas on crypto-currency and distributed ledgers
Singapore broadens push into e-payments
Singapore expands payments regulation frameworks and launches a common QR code for e-payments
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech