It issued a circular to all banks requiring them to implement the initiative, which is aimed at enhancing the protection of multiple banking channels. Concerns over security risks are rising in tandem with escalating investments in fintech and digital banking adoption in the Asia-Pacific region. The report also found that a majority of Asian countries have adopted some form of cryptocurrency regulation or guidance, including China, Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia, Vietnam, Philippines, India, Pakistan, Bangladesh, Hong Kong and China dominate investment in fintech ventures, which stood at $9.62bn at 31 July, more than twice the $4.26bn invested in the region in 2015, according to Accenture’s analysis of CB Insights data. Meanwhile, PwC’s Global Economic Crime Survey 2016 predicts 1.7 billion consumers in the region will be using digital banking by 2020.
Concerns over security risks are rising in tandem with escalating investments in fintech and digital banking adoption in the Asia-Pacific region. The report also found that a majority of Asian countries have adopted some form of cryptocurrency regulation or guidance, including China, Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia, Vietnam, Philippines, India, Pakistan, Bangladesh, Hong Kong and China dominate investment in fintech ventures, which stood at $9.62bn at 31 July, more than twice the $4.26bn invested in the region in 2015, according to Accenture’s analysis of CB Insights data. Meanwhile, PwC’s Global Economic Crime Survey 2016 predicts 1.7 billion consumers in the region will be using digital banking by 2020.