Tuesday, February 28, 2017

New e-banking framework "deregulation" VS "consumer protection"



[South Korea's Choice Financial News Reporter] "and catch two rabbits."

Gimjongseok 28 in the National Assembly lawmaker and open to the Yeouido Research Institute co-hosted "4th industrial revolution and the future strategy of the financial industry: Focus on Electronic Financial Transactions Act amended to enable the pin-tech industries' opinions of the participants in the debate are thus narrowed.

Day debate took place a discussion of the need for legislation amendments in electronic banking environment changes. Financial Services Commission plans to announce a "two-step pin-tech development roadmap 'for financial regulation test bed, block chains, big data next month with three major challenges. Another time there '24 specializing in non-face-to-face banking, Internet banking and bank-oriented 'even ahead of the launch next month.

Business School Professor day spiral with Speaker Kim, Yong - Jin of Sogang the 'pin-Tech ensure the stability of trading for the industries, and security-related security management is critical to pre-analyze prevent vulnerability, it said "the transaction convenience, reliability and autonomy and expertise of the transaction He argued that it is necessary to secure "the workforce.

Korea Pin Tech Industry Association yiseunggeon (g) of the pin-tech industry, P2P (interpersonal) loans, Robo advisors and related non-industry faces yet Among the difficulties in financial regulation incomplete "financial consumer protection yirwojyeo history and abuts up financial regulation has "attracted point out is the point. Yiseunggeon president said, "If you break up a financial consumer protection deemed to create a new type of regulatory framework.

Also yiseunggeon president added, "when you launch an internet banking professional is looking to be a breakthrough in solving the non-face-to-face trade laws.

Spiral in the banking industry as a panelist hanjun St. KEB, Hana Bank Financial Group Future buhaengjang the 'tech industries and pin positions at the bank has two sides to linger opportunities and threats, he said. Hanjun St. buhaengjang the 'banks stance Fourth Industrial Revolution, the pin Tech in difficulty that there is a difference in the digital finance and any point of the bank' said 'what to pass the existing transaction (transactions) electronically, new infrastructure there troubled banks in if necessary "he explained.

Kim Jung - Soo Shinhan Card DT (Digital Transformation) Division is In 'e in the financial and Exchange Law Capital scale, it is important to sentencing comparisons in terms of pin-tech start-ups and Consumer Protection, said "start-up capital scale setups allow haneunge needed, but many aspects of consumer protection the compensation for the accident said that the opinion will need.

Also Kim Jung - Soo Division was also highlighted as' any technology, even if there is a strong competitor in this market growth potential and patent sources, the pin-tech industries and conditions.

In the negative financial authorities discussed in the industry (negative, comprehensive care) it has provided an alternative approach to regulatory requests in the comments. One gimyeonjun FSC Electronic Banking Division, participated as panelists is "our country is basically positive (positive, listed Note)'re taking a regulatory approach can be seen tteoleojindago institutional flexibility," said that "quickly reflected in the laws as possible the needs of industry it may be the next best thing "he explained.

Gimyeonjun manager said it "plans to raise the industry, including Electronic Financial Code review comments institutional improvement '' Step 32 pins tech development will present a roadmap of the month, he said.



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