AFIN shared an update at the “ASEAN Central Bank Governors & ASEAN Financial Institutions CEOs Lunch Dialogue”.The meeting was attended by the governors of the ASEAN central banks and selected CEOs from banks in the region.

The update was well received and spurred a number of expressions of support as well as constructive issues of concern to regulators. It was noted that in association with the ABA, AFIN can provide a framework to help financial institutions in the region address the opportunities and challenges presented by fintech innovations and constructively collaborate with policy makers on these issues.

Some challenges were highlighted by participants that would need to be addressed including (i) how to ensure data localisation and privacy; (ii) cyber security risks;  and (iii) we were asked to address how supervisors would be involved.

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