Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

PBC and SAMR sign the Memorandum of Cooperation on Data Sharing

PBC, People’s Bank of China, central bankThe People’s Bank of China (PBC) and State Administration for Market Regulation (SAMR) signed a Memorandum of Cooperation on Data Sharing, with the aim to promote orderly data transfer and the integrated application across regions and departments, and consolidating the base for accelerating the building of the modern central banking system, facilitating financial digitisation, and improving the business environment via data.

The signing of the Memorandum is said to be an effective measure to implement the Opinions of the CPC Central Committee and the State Council on Improving the System and Mechanism for Market-Based Allocation of Factors. This is expected to facilitate the interconnection and information exchange between the systems in the field of finance and people’s livelihood, promote the effective integration and in-depth application of data, improve financial services in areas including micro, small and medium-sized enterprises (MSMEs), targeted poverty alleviation and people’s livelihood, and ease the difficulty of enterprises in accessing affordable funding.

By leveraging the role of data sharing, the public could help to make fewer visits to government departments in person, thereby improving greater capabilities of the financial sector in benefiting individuals and businesses.

Going forward, the PBC will guide financial institutions to take full advantage of the multiplier effect of data on other factors, tap into data value, release data potential, and realise multi-directional empowerment on the premise of legal compliance and data security, so as to promote the high-quality development of financial services.

Related IBS Intelligence Research

Related Posts


NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »