These norms came in the backdrop of the current practice of regulated entities (REs) of extensively leveraging IT and IT-enabled services (ITeS) to support their business models.
The RBI said the underlying principle of the Master Direction is to ensure that outsourcing arrangements neither diminish REs ability to fulfil its obligations to customers nor impede effective supervision by the RBI.
Like businesses have embraced digitalization to evolve in the wake of COVID-19, fraudsters and scammers too are embracing digital technology to evolve the threat that they pose to businesses and the public, experts from Visa, Rizal Commercial Banking Corporation (RCBC), e-wallet BigPay, and cybersecurity firm OneSpan said during a virtual panel discussion.
“With the global pandemic, things are going online at a much faster rate than we would have,” said Chackan Lai, Vice President of Global Risk Advisory and Innovations at Visa in the US. “The e-commerce channel has accelerated tremendously over the past 12 months and plus. At Visa, on a global basis, about 54 % of our transaction volume is now via the e-commerce channel with only 46% in the face-to-face environment.”
Fintech webinars and online events continue to attract a large audience of industry stakeholders and professionals looking to network and keep up with the rapidly evolving landscape, all the while remaining safe and healthy at a time when the COVID-19 pandemic continues to spread rapidly around the world.
For those located in Asia Pacific (APAC), we’ve compiled a list of 24 upcoming fintech webinars and online events that are being held in the coming months to watch live.
MoneyLIVE APAC: The Digital Sessions – The future of digital banking in Indonesia
May 04, 2021, 13:00 (WIB)
On May 04, MoneyLIVE APAC: The Digital Sessions will hold its fifth live session ‘The future of digital banking in Indonesia’.