Regulator Approves First Digital-Only Bank in the Philippines

Regulator Approves First Digital-Only Bank in the Philippines

Jan 1, 2020

The Central Bank of the Philippines (BSP) has granted a banking license to TONIK Digital Bank (TONIK), the local subsidiary of Singapore-based fintech start-up, TONIK Financial Pte Ltd. The license will enable TONIK to provide a full range of retail digital banking...
21 Applications Received for Singapore’s Digital Banking Licenses

21 Applications Received for Singapore’s Digital Banking Licenses

Jan 1, 2020

Applications for Singapore’s digital bank licenses closed on 31 December, 2019. The Monetary Authority of Singapore (MAS) announced in June 2019 that it will issue up to five new digital bank licenses, including: 1) up to two digital full bank licenses, which...
Thai Government Imparting Big Data Skills to 1,000 Officials

Thai Government Imparting Big Data Skills to 1,000 Officials

Jan 1, 2020

According to the Bangkok Post, the Digital Economy Promotion Agency (Depa) is aiming to train 1,000 government officials with big data skills at the Government Big Data Institute (GBDI), which was launched in June 2019. Of the targeted number, 500 officers will be...
Second Centralized IT Zone Established in Danang

Second Centralized IT Zone Established in Danang

Jan 1, 2020

Vietnam’s Prime Minister has approved the establishment of Danang Information Technology Park (DITP) as Danang’s second Centralized Information Technology (CIT) zone after Da Nang’s software park. DITP is being built on total land area of 341 hectares,...
Indonesia Gives Green Light to Allow Overseas Data Placement

Indonesia Gives Green Light to Allow Overseas Data Placement

Nov 1, 2019

Indonesia has relaxed its data storage rules, revising the 2012 regulations which require domestic storage of a range of data to allow oversight by the government. Although the regulation was largely not enforced, foreign tech companies found it to be a large...