I. FINMA publishes guidelines on artificial intelligence risk management
Ⅱ.Russia's largest bank Sberbank joins digital ruble pilot programme
III.The NUCC has taken the lead in achieving a new breakthrough in the international standard for third-party payments
IV. Microsoft to add non-OpenAI models to 365 copilot
On 23 December 2024, the Swiss Financial Market Supervisory Authority （FINMA）published a guidance on governance and risk management when using artificial intelligence. The guidance points out that the rapid adoption of AI in the financial sector poses a number of risks, such as operational risks (including modelling risks, lack of robustness, etc.), data-related risks, IT and cyber risks, third-party dependencies and legal and reputational risks.
(Source: weiyang, December 31, 2024)
According to Interfax, the Central Bank of Russia (CBR) announced that Sberbank, Russia's largest banking institution, will join TBank and Tochka Bank in participating in a digital ruble pilot program. Starting from July 2025, major Russian banks must provide support for digital ruble functionalities to their customers, ensuring that clients can "open and top up digital ruble accounts within these banks infrastructure, make transfers, and receive digital rubles." Smaller financial institutions will have several years to gradually implement these features. Banks that fail to complete preparations on time will face fines from the Central Bank of Russia.
(Source: mpaypass, December 31, 2024)
On December 19, 2024, under the guidance of the People's Bank of China and the China Financial Standardization Technical Committee (SAC/TC180), the International Standard “Guidelines for Security Framework of Third-Party Payment Service Information Systems” (ISO/TS 9546) led by the NetsUnion Clearing Corporation(NUCC) was officially released. This marks a breakthrough in China's financial standards ‘going global’.
(Source: financialnews, December 30, 2024)
Microsoft is reportedly working on adding internal and third-party AI models to its Microsoft 365 Copilot product, aiming to reduce reliance on OpenAI's underlying technology and lower costs.
(Source: IThom, December 24, 2024)
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Editor：Ms. Li Shuang, Development Dep. I of AFCA
E-mail：lishuang@afca-asia.org
Tel: +86-10-58018299
