Information Technology

MUFG Bank fined $1.75m for info management lapses

Sister firm MUMSS was separately fined $1.4m.
2 hours ago

MUFG Bank fined $1.75m for info management lapses

Sister firm MUMSS was separately fined $1.4m.
2 hours ago

Regulators' push to curb tech outages may boost bank expenses by 20%

Banks in South and Southeast Asia must enhance tech systems or face firmer penalties.

Malaysia’s central bank fines Bank of China for unapproved system relocation

The bank reportedly failed to obtain approval before relocating the systems.

DBS enhances gov’t grant payouts using blockchain for faster distribution

Once conditions are met, the cash is disbursed automatically.

BOCHK warns against suspicious SMS messages

It reminded customers that it will only send messages starting with a “#”.

Hong Kong central bank launches gen AI sandbox

Banks are encouraged to make full use of the sandbox.

India’s HDFC Bank warns against fraudulent trading platforms

Fraudsters would make fake platforms and apps showing fake returns.

The Importance of Digital Identity Management in the Finance Industry

Having a reliable and secure way to confirm the identity of customers has become crucial for financial institutions. 

MAS “closely monitoring” global IT outage

Major banks reported little to no impact to customers and key operations.

Hong Kong process with plan to regulate stablecoin issuers

It has published a consultation paper based on 108 submissions.

Over 600,000 payment cards’ info stolen

Over 99% of stolen data include names, computer files, amongst others.

Data analytics key to SEA digital banks' profitability and retention

After the initial novelty and rewards, digibank users are likely to revert to their old bank.

NAB customer alerts lead to 17% decline in scam losses

Customers are said to have abandoned $100m in possible scam payments.

Financial firms to raise gen AI spending as they seek growth benefits

Despite hype, gen AI spending is low in 2023, at around $400,000 at its highest.

ASEAN banks show impressive uptime performance in 2023 – Brankas

The report calls for better customer awareness of disruption and recommends institutions to keep at least a 99% uptime.

KakaoBank expands AI research at ICN10 data centre

Digital Realty's ICN10 data centre was selected for its optimized AI deployments.

The New World of Risks Faced by Digital Banks in Singapore

The digital banking sector in Singapore has grown in importance over the years alongside the established banks, improving the quality of financial...