Tag "regulation"

New Study from NUS Calls for Risk-Approriate Regulation for BNPL Schemes

Buy now pay later (BNPL) schemes have witnessed strong growth in Singapore but for the sector to develop in a way that’s beneficial to consumers, rules and regulatory oversight are needed, a new paper says. Authored by Allen Sng, a

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Southeast Asia Enters Digital Banking Era

The transformation of consumer expectations and incumbent banks’ slowness to meet evolving consumer needs are creating significant opportunities for Southeast Asia’s new and upcoming digital banks, a Boston Consulting Group (BCG) study found. A survey of 3,250 consumers and 1,350

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SPAC Frenzy Takes Hold of Asia

After explosive growth in the US, the craze surrounding special purpose acquisition companies, or SPACs, is now heading to Asia. Analysts believe that Southeast Asia, where the tech startup scene has thrived on economic growth and a need to boost

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India’s Open Banking Landscape Thrives on the Back of Digital Public Infrastructure

Pioneered by banking incumbents, India’s open banking ecosystem has grown to become part of the Indian financial landscape and is now among one of the most advanced in the world. The development of open banking in India has been facilitated

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Insurtech Gets a Boost in India Amid Rising Digital Adoption

Fundamental shifts in consumer preferences, favorable regulation, and rising interest from investors are stimulating the growth of insurtech in India. Results of a survey conducted by the Boston Consulting Group (BCG) and the Federation of Indian Chambers of Commerce and

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Open Banking Makes Inroads in Vietnam

In Vietnam, banks are becoming increasingly aware of open banking and recognizing the need to embrace open APIs to keep up with the rapidly evolving financial landscape. So far, at least two local banks have launched developer portals and are

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The State Open Banking in Thailand in 2021

Though no legal regulation on open banking currently exists in Thailand, the government’s digital push with the Thailand 4.0 strategy, and the introduction the Personal Data Protection Act (PDPA) last year suggest a move to open banking frameworks is inevitable.

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COVID-19 Has Given All Fintech Verticals A Boost Except Digital Lending

The COVID-19 pandemic has given the global fintech market a boost, with firms in areas including digital custody, digital asset exchange, digital savings, wealthtech and digital payments recording above-average increases in transaction volume in H1 2020, according to a joint

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Crowded Indonesian Market: 51 Licensed E-Money Providers

Bank Indonesia, the country’s central bank, has issued two new e-money licenses so far this year. These two new additions bring the total number of licensed e-money providers to 51, comprising 14 banks, and 37 non-bank providers, according to data

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Open Banking, Data Protection Laws Bring in New Challenges for Digital Banks and Incumbents

Open banking, one of the hottest topics in financial services today, is bringing in new challenges and risks that both traditional financial institutions and fintech companies must address swiftly, said Frederik Mennes, director of product security at cybersecurity firm OneSpan.

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