Fintech
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
Digital currencies may foster competitiveness in retail payments, research finds
But central banks should be cautious and implement non-anonymous models to preserve security
Instant payments crucial to stop crypto disruption – Mersch
ECB board member reiterates concerns around viability of crypto-currencies, while encouraging banks to adopt instant payment networks
Swift warns of greater cyber threats as security control deadline nears
Customers have until December 31 to implement 16 mandatory controls
How crypto is my currency?
Richard Heckinger examines how central banks are grappling with new ideas on crypto-currency and distributed ledgers
DNB publishes hacking guide for cyber security exercises
“Red teams” must simulate attacks on critical functions, guide says
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech
Philippine banks face tougher cyber rules
The Central Bank of the Philippines wants more complex banks to implement a round-the-clock “security operations centre”
Hong Kong and Singapore to collaborate on fintech
The first joint initiative of the two rival cities is to link the trade finance platforms with a DLT-backed interface
UK’s FCA claims success after first year of ‘sandbox’
Regulatory ‘sandbox’ has had high success rate, but there have been some issues, says regulator
G7 governors and ministers set out principles for assessing cyber security
The guidelines build on ‘Fundamental principles of cybersecurity’, published in October
FSB members press ahead with new cyber-risk rules
Over 70% of FSB members say they plan to launch new measures in the next year; private sector emphasises need for better training
Fintech is the future – Menon
Central bankers weigh in on potential of fintech, agreeing there is a need to separate use cases from the hype
DNB abandons digital currency initiative to focus on blockchain
Blockchain could offer better resilience for payment systems against cyber threats, says head of FMI policy; digital currency not the most “promising” use of blockchain
‘We still don’t do the basics well’ – Chris Gale on cyber security
Central banks are doing “aggressive” and “pretty cool” things to shore up cyber defences, says former Boston Fed VP; notes more could be done in the realm of information sharing
Central banks will be using blockchain by 2019 – research
Study examines pros and cons of central banks adopting blockchain and considers use cases
Riksbank outlines three visions of ‘e-krona’
Sweden’s central bank presents three cryptocurrency models as a solution to the payments conundrum
All central banks may have to consider crypto-currencies – BIS
BIS economists examine the case of central banks issuing own digital currency in both the retail and wholesale landscape
PBoC research head defends ICO ban
Central bank official stresses ban on ICOs will not hinder research on blockchain
DLT not ‘necessary’ for central bank digital currency – BoE economist
BoE economist says there are many technological requirements for successful digital currency, but ultimately there are serious economic questions to answer too
Bank of Finland paper deems bitcoin ‘revolutionary’
Bitcoin cannot be regulated, say economists, who give the volatile cryptocurrency a glowing review
‘Red teams’ will test cyber-security of European financial infrastructure
Bundesbank official praises “bug bounty” programmes that pay hackers to uncover vulnerabilities
Central banks unlikely to issue digital money, argues author
David Birch’s book discusses how communities could be at the heart of the new electronic monetary system