Westpac is to pay an AML fine of A$1.3bn ($916m), the largest ever penalty in Australian corporate history. The fine relates to Westpac breaching anti-money [...]…
India’s PMC approaches major banks for possible merger
Punjab and Maharashtra Co-operative Bank (PMC), a fraud-hit lender is looking for a merger opportunity after failing to recover funds from a big defaulter amid [...]…
Bank of Ayudhya’s subsidiary wins commercial banking licence in Cambodia
Cambodia-based microfinance institution Hattha Kaksekar (HKL), the consolidated subsidiary of Bank of Ayudhya (Krungsri), has received commercial banking licence. Following the receipt of the licence,…
Nium awarded e-money licence in UK by FCA
Singapore-based global fintech platform Nium has secured an Electronic Money Institution (EMI) licence from UK watchdog Financial Conduct Authority (FCA). The licence will enable Nium [...]…
Japan’s banking industry likely to see more cross-border financial deals
Japan’s banking watchdog the Financial Services Agency (FSA) said that it expects more cross-border financial tie-ups as fintechs disrupt the country’s banking system, Reuters reported. [...]…