In view of an ever-evolving technology landscape and the potential risks associated with this, the “Hong Kong Monetary Authority (HKMA)” issued the new TM-E-1 Risk Management of e-Banking in September 2015 (“new TM-E-1”) to cover a wider scope of electronic banking (e-banking) services. The new requirements cover phone banking, internet banking, mobile banking, self-service terminals, e-banking services in social media platforms and contactless mobile payments. This thought leadership summarises the new ebanking requirements and also discusses the industry best practices for provisioning secure eBanking platforms.
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