HKMA launches new Regtech guide series for banks

This forms part of the HKMA’s Regtech roadmap.

The Hong Kong Monetary Authority (HKMA) has launched a new Regtech Adoption Practice Guide series, aimed at providing banks a detailed practical guidance on Regtech solutions.

The series forms part of HKMA’s 2-year Regtech promotion roadmap, launched in November 2020.

It followed the Regtech Watch series, which focused on “Cloud-based Regtech solutions.” The first issue guided the use of Cloud technology that offers several benefits, such as timely offsite support.

“Findings from the White Paper suggested that banks that were open to using Cloud-based technology displayed greater operational resilience during the COVID-19 pandemic,” the HKMA said.

The HKMA also published today the seventh and final issue of the Regtech Watch series, which will outline the HKMA’s three-year roadmap to integrate supervisory technology (Suptech) into its processes. 

Through greater use of Suptech, the HKMA aims to enhance the effectiveness and forward-looking capability of its supervisory processes.

Moreover, the HKMA will host its flagship Regtech event, “Unlocking the Power of Regtech” on 30 June 2021 to promote Regtech adoption. 

 

Follow the links for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Gov’t deficit hits $183b 
The government took into account the proceeds of $20b received from the issuance of green bonds.   The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.   There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.    In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Economy