Having racked up billions of dollars in fines for money laundering and sanctions busting, HSBC is cleaning up its act with the global roll out of an AI tool capable of analysing data logs and tracking transactions within a customer's wider network.
The South African Reserve Bank (Sarb) is setting up a dedicated unit to monitor cryptocurrency and fintech developments and inform future regulations and its first job will be to set up a proof of concept (PoC) for DLT-based interbank clearing and settlement.
With Brits increasingly turning to electronic payments, the UK government has raised the possibility of ditching 1p and 2p coins and even £50 notes.
DNB is experimenting with a mobile app that scans user passports and faces to identify customers from across borders for ID verification and digital onboarding.
Swiss financial markets regulator Finma has updated its rules for digital client onboarding to reflect advances in technology such as the ability to authenticate a user with a "selfie with liveness detection".
Regulatory authorities in Abu Dhabi are kicking off a programme with a consortium of the region's banks to develop a shared KYC utility, possibly underpinned by distributed ledger technology.
Cambridge Blockchain and IHS Markit have teamed up to bring distributed digital identity technology to the collection and management of know-your-customer information.